PETALING JAYA: Despite the expected slowdown in consumer spending, TCRS Restaurants Sdn Bhd is bullish on achieving a double-digit sales growth for its The Chicken Rice Shop (TCRS) chain this year and will continue with its expansion.
Managing director Gaik Wong said the company would continue to provide more value products and services to mitigate the impact from the economic downturn and maintain last year’s double-digit sales growth.
“The demand for food and beverage is still positive, particularly for the mass market segment, so we will continue to invest during the downturn,” she told a press conference after the launch of the senior citizens and government employees’ discount campaign yesterday.
She said the company planned to invest between RM7mil and RM10mil in three to five years to expand and upgrade its TCRS chain in Malaysia and Singapore, and also grow its Sweet Chat Cafe outlets in Malaysia.
It planned this year to open few new TCRS outlets in Malaysia and three in Singapore at an average investment cost of between RM350,000 and RM500,000 each, she said.
“The lower entry cost during the crisis is actually providing us with the opportunity to expand,” she said.
She said the company was looking to expand its network in east Malaysia and explore business opportunities in Asian countries like Thailand and the Middle East.
The company currently has 50 TCRS outlets in Malaysia and one in Singapore.
It owns two Sweet Chat Cafe in the Klang Valley.
Wong also said the company was looking to fill up 200 positions at its restaurants currently.
On the promotional campaign, senior citizens aged 60 and above are offered a 20% discount on the total bill at TCRS every Tuesday (expect public holidays).
Meanwhile, the government employees are entitled to a 10% discount on the total bill everyday.