Malaysia's QSR to open KFC outlets in CambodiaThursday August 30, 2007
The Star (Malaysia)
KUALA LUMPUR: QSR Brands Bhd is expanding its restaurant business under the KFC brand to Cambodia.
The first outlet is expected to be operational in Phnom Penh by year-end, said chairman Tan Sri Muhammad Ali Hashim during a press conference to announce the new venture Thursday.
The group plans to open four outlets initially in the capital as well as in major towns. This would be followed by two new restaurants every year.
The expansion to Cambodia involves setting up a joint venture company with two local partners, Royal Group of Companies Ltd and Rightlink Corp Ltd. QSR will hold 55% while Royal Group and Rightlink have 35% and 10% respectively.
QSR's initial investment is about US$3mil (RM10.5mil), which will be funded internally.
The group is hopeful that Cambodia would contribute profitably in the first year. "Everyone likes to eat chicken," Muhammad Ali said, adding that the country has a population of more than 14 million.
Presently, overseas operations, namely Singapore and Brunei, contribute about 15% of revenue.
If this latest venture proves to be successful, the group will consider expanding the Pizza Hut and Ayamas brands to Cambodia as well, Muhammad Ali said.
He noted that besides Cambodia, Myanmar and Laos also did not have the KFC presence.
The first outlet is expected to be operational in Phnom Penh by year-end, said chairman Tan Sri Muhammad Ali Hashim during a press conference to announce the new venture Thursday.
The group plans to open four outlets initially in the capital as well as in major towns. This would be followed by two new restaurants every year.
The expansion to Cambodia involves setting up a joint venture company with two local partners, Royal Group of Companies Ltd and Rightlink Corp Ltd. QSR will hold 55% while Royal Group and Rightlink have 35% and 10% respectively.
QSR's initial investment is about US$3mil (RM10.5mil), which will be funded internally.
The group is hopeful that Cambodia would contribute profitably in the first year. "Everyone likes to eat chicken," Muhammad Ali said, adding that the country has a population of more than 14 million.
Presently, overseas operations, namely Singapore and Brunei, contribute about 15% of revenue.
If this latest venture proves to be successful, the group will consider expanding the Pizza Hut and Ayamas brands to Cambodia as well, Muhammad Ali said.
He noted that besides Cambodia, Myanmar and Laos also did not have the KFC presence.
4 comments:
This is a disservice for the Cambodian people. It is well known that American fast-food chains contribute heavily to a serious health problem in the U. S. 70% of the entire U. S. population is either overweight or obese, costing billions of dollars in health care. McDonald's, Pizza Hut, KFC, etc. are to blame for the change in eating habits because they misled people to think that their fast-food is not only cheap but healthy too. They were proved otherwise. Now you see them all over the world exporting their unhealthy life-style, either directly or through franchise companies. Cambodia has good food as it is and does not need those companies. I hope they will fail in seducing especially the young generation. Sent them packing home. Khmer friends.
Majority Cambodian don't even have chance to tested it! It took a father more than one year salary to buy a bucket of the KFC Chicken!
Do not worry mutch 9:20PM
Local and regional economies are the building blocks of a regions and the nation competitiveness. While sound macroeconomic policies, stable legal and political systems, and factors of production, will affect the potential for the market competitiveness, as wealth is actually created at the microeconomic local and regional level. Al though wealth is created in the microeconomic foundations of the economy, it deeply rooted in Government operating practices and strategies as well as in the quality of the inputs, infrastructure, institutions, and array of regulatory and other policies that constitute the business environment in which a nation’s firms compete. So far, I doubt Hun Sen Government will have any ability to handle all of that.
That's is one fucking good question. I think it should be call Kampuchea Fried Chicken. that's genious.
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