KUALA LUMPUR: Brahim’s Holdings Bhd expects its decision to venture into non-airline catering business will put it on a better footing in the next three years.
Its shareholders on Friday approved the plan to dispose of its 49% stake in Brahim’s Airline Catering Holdings Sdn Bhd, which is involved in in-flight catering service, to Singapore-based SATS Ltd for RM218mil.
Brahim’s executive chairman Datuk Seri Ibrahim Ahmad said the company would be able to reduce its dependence on airline catering business by up to 60%.
“We have decided at the board meeting that we should look at non-airline catering business and reduce our dependency on airline catering. But this does not mean that we do not do airline catering anymore.
“We will carry on as best as we can and hopefully increase our in-flight catering growth,” he said after the company’s EGM on Friday.
SATS is a Singapore-based provider of gateway services and food solutions which lists Singapore Airlines, Qantas, British Airways, United Airlines and Silk Air as its customers.
Ibrahim said Brahim’s would leverage on SATS, which has 43 kitchens worldwide and a major player in the airline catering and catering businesses.
“As our strategic partner, SATS will support our intentions to explore opportunities for halal in-flight kitchen catering capabilities.
“We will tap SAT’s know-how on non-airline catering business and leverage on this core competency to venture overseas with our foreign counterparts that want to go halal,” he said, adding that Brahim’s had also signed with Mahsa College to cater to its institution.
“We are also looking at collaborations with Tabung Haji and Keretapi Tanah Melayu Bhd to increase our topline revenue in the non-airline catering business,” he said. - Bernama
Brahim's closed 4 sen lower at RM1.01 on Friday.
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