By FARA AISYAH / Pic By MUHD AMIN NAHARUL
The integrated poultry company DBE Gurney Resources Bhd has allocated US$500,000 (RM1.99 million) for its expansion plan of the Harumi fried chicken brand in Thailand.
It is the company’s second international development as it has already begun its expansion in Taiwan last year.
DBE MD Datuk Alex Ding Seng Huat said the company targets to open two Harumi signature restaurants in Thailand by the end of this year.
“The total allocation we have for the expansion plan is US$500,000 and if it is not enough, we will raise the fund.
“This year, we target to open two signature restaurants in Thailand and we estimate the cost to be around RM500,000 for each outlet,” Ding told reporters at the signing ceremony in Kuala Lumpur yesterday.
He said a food and beverage business needs a high population, hence the expansion of the business to Thailand, a country with an estimated 65 million population.
“We believe there is a great potential for retail business in Thailand. Based on its population, we believe we can grow at least 5% in the number of outlets or market share,” he added.
DBE’s wholly owned subsidiary DBE Poultry Sdn Bhd has signed a joint-venture (JV) agreement with Thailand’s Farmmesh Foods Co Ltd (FFCL) to establish a private limited company named Super Harumi Thailand for the exclusive purpose of running a chain of quick-service restaurants, which will operate under the Harumi brand.
DBE Poultry will hold a 30% share of the JV company, while the remaining 70% belongs to FFCL.
The Malaysian firm will provide consultation and training to the JV company with regard to the launching and opening of the Harumi businesses in Thailand.