Pan Malaysia to form JVCO with Singapore’s Baker & Cook
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Investment holding company Pan Malaysia has entered into a partnership with Singaporean artisan baker and food store Baker & Cook.
The 50-50 joint venture will serve to diversify Pan Malaysia’s business to include F&B retail outlets, trading as Baker & Cook and Plank Sourdough Pizza. Pan Malaysia’s investment is being made through its wholly owned unit Megafort.
Under the agreement, Baker & Cook will manage day-to-day operations while Megafort handles concession and sub-franchisee agreements.
The stock exchange filing announcing the joint venture read: “The group (Pan Malaysia) intends to diversify its business profile and income stream, and it believes that the JV is expected to contribute positively to the earnings of the group in the future.”
Questions & Answers
Q.What will be the primary role of Pan Malaysia’s subsidiary, Megafort, within this new joint venture?
What will be the primary role of Pan Malaysia’s subsidiary, Megafort, within this new joint venture?
Megafort will be responsible for managing concession and sub-franchisee agreements for the joint venture. This role contrasts with Baker & Cook's responsibility for day-to-day operational management.
Q.What is the strategic objective for Pan Malaysia in forming this partnership with Baker & Cook?
What is the strategic objective for Pan Malaysia in forming this partnership with Baker & Cook?
Pan Malaysia aims to diversify its business profile and income streams by entering the F&B retail sector. The company anticipates that this joint venture will contribute positively to its future earnings.
Q.Which brands will the new joint venture operate under in the F&B retail market?
Which brands will the new joint venture operate under in the F&B retail market?
The joint venture company will trade under the brand names Baker & Cook and Plank Sourdough Pizza. These brands represent the F&B retail outlets that the partnership intends to operate.
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