KFC staff posing with the latest promotion – KFC’s Cheezy Mushroom Crunch.
KUALA LUMPUR: QSR Brands (M) Holdings Sdn Bhd (QSR Brands) is planning to expand its KFC business by adding up to 30 new outlets nationwide this year.
Chandrasagran Munusamy, general manager for KFC operations at QSR Brands unit QSR Stores Sdn Bhd, said the expansion would materialise with or without the relisting of KFC or QSR Brands on the local bourse this year as speculated.
He said funding for KFC’s expansion in Malaysia was not an issue and was not the main reason for the relisting.
“Thirty outlets were opened last year without any funding issue and to-date we have a franchisee of 665 KFC outlets nationwide.
“Malaysia has great potential and we want to open 20 to 30 more outlets this year in areas that we have identified,” he said after launching the new KFC Cheezy Mushroom Crunch in Kuala Lumpur on Thursday.
Chandrasagran said the cost of opening a new outlet would vary between RM1mil and RM4mil depending on whether it would be a drive-thru restaurant, a shoplot restaurant or one in a shopping complex.
It was reported recently that the fast-food franchise brand was returning to Bursa Malaysia after being taken private in 2013 by CVC Capital Partners, Employees Provident Fund and Johor Corp.
The relisting is expected take place this year with its initial public offering capable of raising up to RM2bil.
“The funds from relisting will cover many areas, not necessarily for the KFC expansion plan only. The management is working on it now, however, nothing much has been finalised,” Chandrasagran said, adding that he projected another incremental sales growth for KFC Malaysia this year.
QSR Brands, which currently holds a franchisee of over 750 KFC restaurants in Malaysia, Singapore, Brunei and Cambodia, is also the operator of Pizza Hut in Malaysia (370 outlets) and Singapore (75 outlets).
Meanwhile, senior general manager for KFC marketing Angelina Villanueva said despite the bleak economic outlook, the food and beverage industry was very competitive nowadays.
“The demand for KFC in the country is intact and KFC Malaysia is doing well in terms of sales.
“For the new KFC Cheezy Mushroom Crunch product, we are looking at 15% contribution to the overall revenue. We hope 2017 will be another good year,” she said. - Bernama
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