DBE Gurney to open Harumi fried chicken brand quick service restaurants in Thailand
In this article (5)
D.B.E. Gurney Resources Bhd’s subsidiary, D.B.E. Poultry Sdn Bhd (DBEP) has on May 23, 2018 entered into a joint venture agreement with Farmmesh Foods Co LTD (FFCL) to open and jointly operate Quick Service Restaurant operations with Harumi™ fried chicken brand concept in Thailand.
The deal is following a Memorandum of Understanding signed between the parties on March 8, 2018.
DBEP will hold a 30% interest in Super Harumi Thailand, while FFCL will take the remaining 70%. DBEP will inject an initial capital of RM37,000 into the joint venture, along with providing training and the running of the business.
DBE Gurney said the JV business will enable it to expand its retailing business through HARUMi products and allow it to expand to Thailand following its early expansion into Taiwan, in addition to the existing outlets in Malaysia.
The stock trading half a sen lower at three sen with some 1.3 million shares changing hands.
Questions & Answers
Q.What percentage of the new joint venture will DBEP own?
What percentage of the new joint venture will DBEP own?
DBEP will hold a 30% interest in Super Harumi Thailand. FFCL will take the remaining 70% share of the quick service restaurant operations in Thailand.
Q.How much initial capital is DBEP investing in the joint venture?
How much initial capital is DBEP investing in the joint venture?
DBEP will inject an initial capital of RM37,000 into the joint venture. It will also provide training and assist with running the business.
Q.What is the primary reason for DBE Gurney entering this joint venture?
What is the primary reason for DBE Gurney entering this joint venture?
The joint venture allows DBE Gurney to expand its retailing business through HARUMi products. It also facilitates expansion into Thailand, following earlier growth in Taiwan and existing Malaysian outlets.
Q.When did DBEP and FFCL formally sign the joint venture agreement?
When did DBEP and FFCL formally sign the joint venture agreement?
DBEP and FFCL signed the joint venture agreement on May 23, 2018. This formal agreement followed a Memorandum of Understanding signed between the parties on March 8, 2018.
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