by S BIRRUNTHA
FOCUS Dynamics Group Bhd has bought a 16.67% equity stake in Hong Kong-listed food and beverage group Top Standard Corp for HK$0.077 (RM0.04) per subscription share.
The group has completed the subscription of 192 million new shares of Top Standard via its wholly owned Hong Kong subsidiary, Focus Dynamic Group Ltd.
Listed on Hong Kong’s Growth Enterprise Market since 2018, Top Standard is a Hong Kong-based restaurant group that offers Sichuan cuisines under the “San Xi Lou” brand.
“Top Standard has been a mainstay in the Hong Kong restaurant industry and is consistent in its delivery of high-end quality Chinese and Japanese cuisine to discerning diners,” Focus Dynamics said in a statement yesterday.
The partnership with Top Standard is in line with the group’s recent revelation on its expansion plans with Oversea Enterprise Bhd to bring Oversea brand onto the international stage.
Last month, Focus Dynamics mentioned that its venture with Oversea will build a collaborative brand “EMP by Oversea” and open eight new international restaurants in global metropolises including New York, Las Vegas, London, Paris, Sydney, Shanghai, Hong Kong and Singapore.
It also noted that Top Standard’s expertise in operating restaurants in Hong Kong will provide the group with a turnkey operator to expand the Oversea brand and also provide a platform for Focus Dynamics to expand its products internationally.
Focus Dynamics’ ED Benson Tay (picture) said with this investment, the group will be able to tap into Top Standard, who is a long-time industry player and has numerous award-winning brands under its belt.
“Their industry expertise and knowhow in rolling out restaurants and operating in China and Hong Kong markets are invaluable in our plans to expand the EMP by Oversea brand into Shanghai and Hong Kong,” he added.
Additionally, the group also expects to increase its footprint with cross border trade between the existing Hong Kong outlets that Top Standard operates.
This includes crossing selling food products and meshing food menus to provide innovative, creative and modern cuisine offerings to capture international awareness.
At the end of yesterday, Focus Dynamics shares closed 5.5 sen or 6.51% lower at 79 sen with a market capitalisation of RM4.84 billion.