The Edge Daily: Former KFC Holdings executive director Datuk George Ting Yew Tong has emerged as a major shareholder of Kuala Lumpur, Malaysia-based Dommal Food Services Sdn Bhd, the master franchise holder of Domino's Pizza in the country.
Ting, who has been appointed Domino's chief executive officer-designate, will soon sell his stake in Domino's competitor, Shakey's Pizza, as well as the brand itself to an undisclosed buyer. He will then focus on expanding Domino's presence via proposed venture in Singapore.
"We will sell both the (Shakey's) brand and the (10) stores to the identified buyer," Ting said. "We hope to complete this before end of March."
The agreement will see the sale and conversion of 21 Shakey's Pizza restaurants into Domino's outlets. A new holding company, named Mikenwill Sdn Bhd, will emerge and will also own Dommal Food.