DBE Gurney enters 'Harumi' JV in Thailand

In a filing with Bursa Malaysia, Country View said that the acquisition

KUALA LUMPUR: DBE Gurney Resources Bhd is expanding its Harumi brand of restaurants to Thailand via a collaboration with a local partner.

In a stock exchange filing, DBE said its subsidiary DBE Poultry Sdn Bhd is collaborating with Farmmesh Foods Co Ltd to run a chain of quick service restaurants in Thailand operating under the Harumi banner.

According to the terms of the agreement, DBE will hold a 30% stake in the new joint venture with the remainder held by Farmmesh. The proposed initial paid-up capital of the joint venture is about RM124,000.

"The JV Business is not expected to have material effect on the earnings, net assets and gearing of DBE for the current financial year ending 31 December 2018.

"Nonetheless, DBE expects positive contribution from the operation, promotion and marketing of the JV Business on its earnings in the future," said the group.