Malaysia’s fast food giant QSR said to have revived IPO plan

Kuala Lumpur, Malaysia. Photo by Kah Hay Chee on Unsplash

Malaysian fast food restaurant business QSR Brands (M) Holdings Bhd has revived plans for an initial public offering that could be worth hundreds of millions of dollars, The Edge Weekly reported on Saturday, citing unidentified sources.

Johor Corp, the controlling shareholder in QSR, which operates KFC and Pizza Hut franchises in Malaysia, has engaged Maybank Investment Bank and RHB Investment Bank as advisors, the business weekly said.

QSR, Malaysia’s largest fast food chain operator, was delisted in 2013 and attempted to relist in 2019, after several delays, to raise around 2 billion Malaysian ringgit ($474 million). The plan was shelved after investors deemed its valuation too lofty.

QSR and Johor Corp did not immediately respond to requests for comment outside of normal working hours.

Reuters

Singapore Reporter/s

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Following vacancies can be applied for (only in Singapore).   

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.