• Yum approves Malaysian Pizza Hut, KFC franchisee's restructuring plan

    Tags: Shakey's

KUALA LUMPUR, Malaysia -- KFC Holdings Malaysia Bhd has been granted approval by Louisville, Ky.-based Yum! Brands Inc., owner of several quick-serve chains including Pizza Hut and KFC, to restructure its businesses.

According to AFX News, KFC Holdings managing director Johari Abdul Ghani said the change will allow the company to franchise and operate both Pizza Hut and KFC units in the area for 10 years, with an option to renew for another 10 years. Additionally, the agreement requires KFC Holdings to open 16 Pizza Huts and 16 KFCs annually.

KFC Holdings director George Ting will stay on with the company, but, per Yum's insistence, will divest his stake in Shakey's pizza franchises in the Far East.

Johari said KFC Holdings next must secure the consent of creditor Alliance Bank for the restructuring plan. Once approved, he expects the company will submit an application to the Malaysia Securities Commission and then complete the restructuring by September.

In 2002, KFC Holdings posted a net profit of 61.3 million ringgits (U.S. $16.1 million), up from 47.7 million (U.S. $12.6 million) a year earlier. Group sales rose to 1.25 billion ringgits (U.S. $329 million) from 1.07 billion ringgits (U.S. $282 million) in 2001.

Related Content

User Comments – Give us your opinion!
Products & Services

Restaurant Digital Signage Advertising Network

http://global.networldalliance.com/new/images/products/6691.png

6691/Restaurant-Digital-Signage-Advertising-Network

Standard coffee

http://global.networldalliance.com/new/images/products/6963.png

6963/Standard-coffee

Solutions

http://global.networldalliance.com/new/images/products/4551.png

4551/Solutions

ExpressNet

http://global.networldalliance.com/new/images/products/ExpressNet_iix.gif

1428/ExpressNet

Self Serve iPad Ordering

http://global.networldalliance.com/new/images/products/5605.png

5605/Self-Serve-iPad-Ordering

POS health test: do a quick check

http://global.networldalliance.com/new/images/products/1288.png

1288/POS-health-test-do-a-quick-check

Features

http://global.networldalliance.com/new/images/products/4541.png

4541/Features

Restaurant technology news, trends & best practices

http://global.networldalliance.com/new/images/products/5079.png

5079/Restaurant-technology-news-trends-best-practices

See the latest in restaurant POS

http://global.networldalliance.com/new/images/products/1926.png

1926/See-the-latest-in-restaurant-POS

Call Center Ordering

http://global.networldalliance.com/new/images/products/5939.png

5939/Call-Center-Ordering

Request Information From Suppliers
Save time looking for suppliers. Complete this form to submit a Request for Information to our entire network of partners.