KUALA LUMPUR: Focus Dynamics Group Bhd has acquired a substantial stake in ailing in-flight catering firm Brahim's Holdings Bhd.
The company said today that it has amassed a 12.19% equity interest in Brahim after spending RM7.34mil buying 28.8 million shares in a direct business transaction (DBT) earlier this week.
"Focus Dynamics' with its plans for digital cloud Kitchen services, E-kitchen network and other flagship outlets, sees this acquisition as the key step to establish a solid platform of operations to cater for its expansion and growth plans," it said in a statement today.
Brahims is a in-flight catering services provider, with business spanning various verticals including logistics, storage, catering and restaurant services.
It's central kitchen, which is recognised as the world's largest halal central kitchen, caters for up to 60,000 meals per day.
Focus Dynamics' executive director Benson Tay said establishing this cornerstone relationship with Brahims opened the doors for an international trading network via airlines and in-flight catering services for Focus' brand of products.
"We are excited with the direction, and we hope to be able to speed things up significantly with this association. Having access to the largest central kitchen in Kuala Lumpur and with a strong existing portfolio of clients, we will be able to turnkey a few concepts into operational viability far quicker than an organic approach," Tay said.
Meanwhile, in a separate filing with Bursa Malaysia today, Brahim's Holdings has announced that Brahim's International Franchises Sdn Bhd, a company controlled by Tan Sri Mohd Ibrahim Mohd Zain and Datuk Seri Ibrahim Ahmad, has disposed 28.8 million shares in the company.
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