QSR Seals Deal To Operate KFC Restaurants In Cambodia

KUALA LUMPUR, March 3 (Bernama) -- QSR Brands Bhd has signed an agreement with Royal Group of Companies Ltd (RGC) and Rightlink Corporation Ltd Hong Kong (RCL) to form a joint venture company to operate the Kentucky Fried Chicken Restaurant (KFC Cambodia) business in Cambodia.In a filing to Bursa Malaysia Monday, QSR said the new joint venture company, Kampuchea Food Corporation Ltd (KFCL) will be responsible for the operations of KFC Cambodia.It said the new company will have an initial paid-up capital of RM5.25 million with QSR holding 55 percent equity, RGC 35 percent and RCL the remaining 10 percent."The rationale is to set up opportunity to QSR to be the market leader and established fast food restaurant operator in Cambodia as the presence of other big players are still in the infancy stage," it said.QSR added that the business partners will combine QSR financial and operational strength with their strong local knowledge and contact to create synergistic benefits as well as the opportunity to explore other markets in the Indochina region.-- BERNAMA