Lotus Capital to fuel myBurgerLab’s international expansion
The group is allocating $4.27m for the expansion.
Lotus Capital DKR Sdn Bhd is a major shareholder of Malaysian burger chain myBurgerLab Sdn Bhd through the recent acquisition of a 47.5% stake in the company for an undisclosed sum, a report by The Edge Malaysia revealed.
Lotus Capital DKR is controlled by Karthiik Doraisingam, son of Lotus Group founder Tan Sri R Doraisingam Pillai. The Lotus Group is involved in multiple businesses from F&B, hospitality, cinemas, construction, real estate, and more.
With the entry of the new investor, myBurgerLab plans to expand its restaurant to 25 by the end of 2025 and enter Indonesia, Singapore, and the Middle East. The report said it has allocated RM20m ($4.27m) for its expansion between 2023 to 2025.