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.
It said the flaship outlet of the new fast-food chain with the brand name Saudi Burger is scheduled to open in December 2023 at Sungei Wang Plaza in Bukit Bintang, Kuala Lumpur.
"We aim to not only tantalise taste buds but als controbute to the ever-evolving food culture of this bustling district.
"We expect to franchise out 20 outlets in Malaysia over the next three years, and presently working with our partners for this exciting rollout plan," said NetX executive director Steven Tan.
