NetX, Saudee unit to launch fast-food chain

KUALA LUMPUR Netx Holdings Bhd has entered into a partnership with Saudi Cold Storage Sdn Bhd, a unit of Saudee Group Bhd, in a venture into the fast-food consumer market in Malaysia.

In a statement, NetX said the business will be carried out by a joint venture company, in which it will own a 51% equity stake while the remaining 49% will be held by Saudi Cold Storage.