The group plans to diversify its business profile.
Singapore bakery chain Baker & Cook and investment holding company Pan Malaysia entered into a joint venture and shareholders agreement (JVSA) in creating a joint venture company.
The agreement is for the expansion of Baker & Cook and Plank Sourdough Pizza stores in Malaysia. The initial paid-up capital of the JV company is USD$362,250 (RM 1.5 million) divided for 100,000 shares.
“The Group intends to diversify its business profile and income stream, and it believes that the JV is expected to contribute positively to the earnings of the Group in the future,” Pan Malaysia said in its announcement in the stock exchange.
(Photo credit: Baker & Cook SG Facebook)
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