JCorp eyes November relisting for QSR Brands

JOHOR BARU: Johor Corp (JCorp), the parent company of QSR Brands (M) Holdings Bhd, is looking at November to relist the company on Bursa Malaysia.

“We are still waiting for approval from the Securities Commission for the company to go public,” said JCorp president and chief executive officer Datuk Kamaruzzaman Abu Kassim.

QSR Brands is the operator of KFC and Pizza Hut restaurant chains in Malaysia.

JCorp which is the Johor state investment arm, is the parent company of QSR Brands with an equity stake of 51.8%.

The other two owners of the company are the Employees Provident Fund and private equity firm CVC Capital Partners Ltd.

QSR Brands was taken private in 2013. QSR Brands has a network of restaurants throughout Asean, with a total of 1,268 Pizza Hut and KFC outlets in Malaysia, Singapore, Brunei and Cambodia to date.

Separately, Kamaruzzaman said it is business as usual at JCorp following the change in the state administration from Barisan Nasional to Pakatan Harapan government.

Kamaruzzaman said he had a meeting with the new Johor Mentri Besar Datuk Osman Sapian on Monday, the first day which Osman reported from work after taking oat of office on May 12.

“I’ve briefed him on our operations and business activities of JCorp and companies under us,” he said.

Kamaruzzaman added that all projects currently undertaken by JCorp and its companies launched during Barisan’s time would continue as planned as of to date.

“The Mentri Besar is expected to make a working visit to JCorp and we are looking at the possible date,” he said.

Kamaruzzaman also gave assurance to buyers who had purchased affordable houses under the Rumah Mampu Milik Johor (RMMJ) with projects undertaken by JCorp that the houses would be delivered to them upon completion.