Texchem to focus on growing F&B divisions
GEORGE TOWN: Texchem Resources Bhd will focus on driving growth for its food and restaurant divisions under the helm of its new president and chief executive officer Yap Kee Keong.
Group executive chairman Tan Sri Fumihiko Konishi ( pic) told StarBiz that from 2012 till 2017, the group was reconsolidating its operations under the leadership of Datuk Brian Tan, who was then president and CEO. Tan is now the group’s deputy chairman. “The group’s new business direction is to change the focus of the food division to aquaculture farming.
“One of our business plans is to do hybrid-garoupa farming in Pulau Jerejak. Currently, we have barramundi and soft-shell crab farming in Myanmar,” he said.
Konishi said the food division would be supported by upstream business for sustainable growth.
“The seafood from aquaculture farming will be turned into value-added products for export to global markets,” he added.
For its restaurant division, Texchem will spend about RM80mil to open 80 new Sushi King outlets in the country until 2021, according to Konishi.
“The restaurant division will continue to focus on growing our brand equity to boost market share as well as as expansion via new concept restaurants in Malaysia and Asean,” he said.
Both the food and restaurant divisions gen- erate about 45% of the group’s revenue.
For its polymer engineering division, efforts will be channelled to key growth drivers particularly in hard-disk drive, medical and life sciences as well as semiconductor segments, apart from exploring new opportunities in other areas.
“The industrial division will continue to be the regional leader in Asean in the sales and distribution of industrial raw materials and additives.
“This will be achieved by focusing on geographical expansion, key market resilient industries, expansion as well as diversification of both chemical and non-chemical-based products,” Konishi added.
Both the polymer engineering and industrial divisions contribute 15% and 40%, respectively, to the group’s revenue.