PNS allocates up to RM35 million for franchise business
KUALA LUMPUR: Perbadanan Nasional Bhd (PNS) is allocating between RM30 million and RM35 million this year to finance entrepreneurs who are keen to undertake franchise business.
Managing director, Datuk Syed Kamarulzaman Syed Zainol Khodki Shahabudin said the amount was the same as what the agency allocated last year to finance franchise entrepreneurs.
“We expect the allocation to benefit between 200 and 250 entrepreneurs this year,” he told a press conference on PNS’s strategic collaboration with fast food chain operator, Marrybrown Sdn Bhd.
He said apart from franchise sector financing, PNS would also allocate RM30 million for investment in the property sector.
To date, PNS had disbursed some RM400 million for the franchise sector, benefiting 1,700 entrepreneurs, and invested RM424 million in the property sector, he added.
On the collaboration with Marrybrown, Syed Kamarulzaman said the agency would offer financing to 17 entrepreneurs who wanted to become its franchisee.
He said that PNS would provide an average of 70 per cent of the cost of opening a Marrybrown restaurant, which ranges from RM800,000 to RM2 million depending on the size and services offered.
Meanwhile, Marrybrown chief executive officer, Datuk Joshua Liew said the company planned to open 25 new outlets this year and would allocate 10 outlets for Bumiputera entrepreneurs.
He said the company was also planning to open at least six outlets overseas this year, one each in Iran and Sri Lanka and three in New Zealand.
Liew said the agreement with the master franchisor in Iran would see the opening of at least 30 outlets in that country within the next five years.
Meanwhile, in Sri Lanka, he said the master franchisor was expected to open at least 10 outlets within the next three years.
Currently, Marrybrown has more than 400 restaurants in 15 countries including Malaysia, Singapore, China, India, the Maldives and Indonesia. — Bernama