Oldtown expands business in China

OldTown to gain from lower interest rates as consumer spending to rise.

PETALING JAYA: Oldtown Bhd is expanding its business in China by appointing a local partner, with the first outlet in Fujian targeted for opening in the third quarter of this year.

The company entered into a territorial licence agreement yesterday with Xiamen Kuaike Investment Management Co Ltd, which will give Xiamen Kuaike the rights to operate the restaurant business under the “Oldtown White Coffee” brand name in Fujian, China.