Group executive chairman Tan Sri Fumihiko Konishi(filepic) said the growth would be driven by the increase in minimum wages, which had raised the purchasing power of the people, and the halal certifications of its Sushi King outlets.
GEORGE TOWN: Texchem Resources Bhd expects revenue of is restaurant division to grow by 17% to 20% this year.
It also expects the division’s profit to double.
Group executive chairman Tan Sri Fumihiko Konishi said the growth would be driven by the increase in minimum wages, which had raised the purchasing power of the people, and the halal certifications of its Sushi King outlets.
“Since last year, more Sushi King outlets have received halal certifications, making them more popular with the Muslim population.
“About 40% of Sushi King’s customers are Muslims. The profitability of the restaurant division should also double,” he said.
The division should contribute about 30% to the group’s revenue, up from about 25% last year, while the industrial division should add another 40%, according to Konishi.
The remaining 30% would be generated by the group’s polymer engineering and food divisions.
Texchem is spending RM74mil to expand its four business divisions.
“About RM27mil is for the expansion of Sushi King, Yoshinoya, and Hanamaru outlets.
“We will spend RM7mil to open seven more Doutor Coffee outlets, and another RM10mil to expand Kokubu Food Logistic Malaysia Sdn Bhd operations. The remaining RM30mil will be for expanding the aquaculture business under the food division,” he said.
The Sushi King outlets will be increased to 130 by the end of this year from 113 presently.