Winding-up petitions against PappaRich Malaysia group filed
ST Group, the chain’s operator in Australia, expects the petitions to not have any impact on their business.
Winding-up petitions have been filed against PappaRich Group Sdn Bhd, the operator of namesake restaurants in Malaysia.
Both petitions against the group were filed in the country’s High Court of Malaya last May and due to be heard on 21 September and 3 November, respectively.
PappaRich Group Sdn Bhd is a joint venture partner of Singapore-listed ST Group Food Industries, in connection with the latter’s indirect subsidiary PappaRich Australia.
ST Group holds 50% of the equity interest in PappaRich Australia, with PappaRich Group Sdn Bhd holding a 40% stake and investment holding firm Agathisfour Sdn Bhd having the remaining 10%.
ST Group Food, which has 29 outlets in Australia and five in New Zealand, said it does not expect the petitions to have any impact on its business and operations. "Our group will continue to hold the exclusive rights to the PappaRich brand in Australia and New Zealand," it said in an update.
The Australian-based food and beverage group also operates other international brands such as Gong Cha, Ne Ne Chicken, Hokkaido Baked Cheese Tart, Ippudo, IDarts and Go Noodle House.
Currently, there are about 125 PappaRich restaurants worldwide.
