Manhattan Fish Market opening more outlets

SEAFOOD restaurant operator Manhattan Fish Market (MFM) plans to open 12 new outlets in Malaysia this year and six in other countries. 

Chief executive officer Zakaria Hussin said three outlets would be set up in the Klang Valley, and one each in Penang and Johor Baru, while the overseas outlets are in Singapore (2), Dubai, Thailand, Indonesia, Sri Lanka and China. 

The company would manage the outlets in Malaysia and Singapore and the others through joint ventures or master licensing or franchises, he told reporters after the launching of MFM’s newest outlet in Kuala Lumpur last Thursday. 

MFM charges US$80,000 (RM304,000) for a master licence in each country. 

From left: Young enterprising founders Dickson Low, Dr Jeffrey Goh and George Ang with the signature dish, Flaming ManhattanSeafood Platter for Two.

It has also signed a memorandum of understanding with Malaysian Industrial Development Finance (MIDF) for a RM2.25mil loan to construct new outlets. 

Despite its name, MFM is a home-grown product which started its business in 2002 at the Mid Valley Megamall in Kuala Lumpur. It has now expanded to eight outlets, of which seven are located in the Klang Valley and one in Singapore. 

“In future, we plan to open one new outlet a month. We are also eyeing new markets outside Asean,” Zakaria said. 

MFM offers a wide variety of American, Mediterranean and Western-styled seafood. 

On its existing business, Zakaria said sales had been very encouraging, touching RM14mil a year or RM1.5mil a month. 

“However, the margin is rather small, between 10% and 15%. As such, we need to expand to create the volume,” he added. – Bernama