QSR plans 4 KFC stores in Phnom Penh annuallyTuesday April 29, 2008
By YVONNE TAN
The Star Online (Malaysia)
PHNOM PENH: QSR Brands Bhd hopes to set up four Kentucky Fried Chicken (KFC) outlets a year in Phnom Penh.
This is given the robust growth of the city's tourism industry, said chairman Tan Sri Muhammad Ali Hashim.
He said four outlets would be set up by year-end with a total investment of US$1mil.
“The immediate plan is to open three more here this year,” he said after the launch of Cambodia’s first KFC restaurant here yesterday.
Ali said the company would subsequently expand to other populous cities such as Siem Reap and Sihanoukville.
“Tourism here is growing rapidly. We hope to establish outlets to cater to the increasing number of foreign visitors,” he said.
He added that QSR obtained the franchise to operate KFC restaurants in Cambodia last year through its 46.79% associate company KFC Holdings (M) Bhd.
QSR is the operator of 489 KFC outlets in Malaysia, Singapore, Brunei and Cambodia. It is also the franchisee for Pizza Hut.
The new outlet is operated by Kampuchea Food Corp Ltd, a joint-venture company set up by QSR; Cambodian investment and development company The Royal Group of Co Ltd of Cambodia; and Hong Kong-incorporated strategic investment holding firm Rightlink Corp Ltd.
QSR has a 55% stake in the joint-venture company while The Royal Group and Rightlink each has 35% and 10% interest.
On when the new outlet would break even, Ali said: “Hopefully, in a year but this is a long-term investment.'' Currently, overseas operations contribute 30% to QRS’ sales.
“We hope it will be much higher after this,” Ali said, adding that he expected Malaysian sales to also grow at double digit this year.
Despite rising prices of raw materials, Ali is confident of the group’s financial performance, going forward. “This year will be better than last year,” he added.
On a possible price increases in its products, he said: “Only if it is absolutely necessary but we will try to maintain prices for now.”
Meanwhile, the Cambodian government hopes Malaysia will continue to grow its investments in the country.
"China is currently Cambodia's biggest investor while Malaysia ranks ninth or 10th," Cambodia's Senior Minister of Commerce Dr Cham Prasidh said.
This is given the robust growth of the city's tourism industry, said chairman Tan Sri Muhammad Ali Hashim.
He said four outlets would be set up by year-end with a total investment of US$1mil.
“The immediate plan is to open three more here this year,” he said after the launch of Cambodia’s first KFC restaurant here yesterday.
Ali said the company would subsequently expand to other populous cities such as Siem Reap and Sihanoukville.
“Tourism here is growing rapidly. We hope to establish outlets to cater to the increasing number of foreign visitors,” he said.
He added that QSR obtained the franchise to operate KFC restaurants in Cambodia last year through its 46.79% associate company KFC Holdings (M) Bhd.
QSR is the operator of 489 KFC outlets in Malaysia, Singapore, Brunei and Cambodia. It is also the franchisee for Pizza Hut.
The new outlet is operated by Kampuchea Food Corp Ltd, a joint-venture company set up by QSR; Cambodian investment and development company The Royal Group of Co Ltd of Cambodia; and Hong Kong-incorporated strategic investment holding firm Rightlink Corp Ltd.
QSR has a 55% stake in the joint-venture company while The Royal Group and Rightlink each has 35% and 10% interest.
On when the new outlet would break even, Ali said: “Hopefully, in a year but this is a long-term investment.'' Currently, overseas operations contribute 30% to QRS’ sales.
“We hope it will be much higher after this,” Ali said, adding that he expected Malaysian sales to also grow at double digit this year.
Despite rising prices of raw materials, Ali is confident of the group’s financial performance, going forward. “This year will be better than last year,” he added.
On a possible price increases in its products, he said: “Only if it is absolutely necessary but we will try to maintain prices for now.”
Meanwhile, the Cambodian government hopes Malaysia will continue to grow its investments in the country.
"China is currently Cambodia's biggest investor while Malaysia ranks ninth or 10th," Cambodia's Senior Minister of Commerce Dr Cham Prasidh said.
6 comments:
I have tested this KFC last month but I think it is not delicious like product of Lucky 7 near BBU. And also the smell of tomatos and Chilli are disgusting.
How were you able to test KFC when it just opened a few days ago?
Just curious. Anyone know how much these new fast food places pay their workers. (i.e. KFC, Lucky Burger, etc...)
Brother@10.40, the one open on Monivong Blvd is not KFC? It is under Asian Hotel building. or I confused? I saw most of the customers are Malaysian and foreigners.
Try yourself.
in a capitalistic economy like cambodia is now starting to experience the good life, all business is opened to compete in cambodia. the long they wait, the higher the price they have to pay for the wait. so, like any businesses anywhere, got to take some risk along with the huge potential for profit and contribution to good living standard in cambodia. it's called helping your community at the time time as you are doing business there. like all businesses anywhere on the planet, growth may start slow at first, however in cambodia it might be a good exception as more and more tourist are drawn to cambodia once they discovered cambodia and like it or love it and some don't even want to leave cambodia. i guess, seeing is believing! cambodia is truly the land of golden opportunity now as there are lots and lots of room to growth and investments in all fields to be made. here's the hint: look around the world, if cambodia did not have it yet, then go for it in cambodia to establish that kind of business opportunity as cambodia is still considered an economic or business virgin. plus, think of it this way, your businesses don't have to cater just to the cambodian people, but to the millions and millions of tourists as well as they are now beginning to flock to cambodia like a new found golden opportunity to get things started for the better for all to enjoy. together, let's make cambodia a joyful, fun, loving place to live, work and visit, alike. don't forget that there are also a large expat community mushrooming all over phnom penh, too. so businesses will be good. i say, please don't wait too long as cambodia can not wait for long for any investors. god bless cambodia.
i love kfc. also, why not bring in pizza hut, domino's pizza, carls junior, subway sandwiches and any other famous chain from the EU, japan, the US, etc... we want all of them in cambodia.
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