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Rakyat Post
05-06-2025
- Business
- Rakyat Post
A Fresh Recipe for Success: Chef Wan's Restaurant Backer In RM30.8m Deal
Subscribe to our FREE Oasis Harvest Corporation, a food and beverage company listed on Bursa Malaysia, is making a big move in the restaurant world. They're planning to buy over Metta Food & Lifestyle, which holds an 80% stake in the companies operating 1958 by Chef Wan and Cafe Chef Wan restaurants, for RM30.8 million. The remaining 20% stake in these operating companies is owned by Chef Wan, whose real name is Datuk Redzuawan Ismail, through his company Redzuawan Ismail Holdings Sdn Bhd. The deal has an interesting twist because one of the key players, Datuk Seri Tan Ooi Han, wears multiple hats in this story. He's not just a big shareholder and executive director at Oasis Harvest – he's also involved with Metta as a shareholder, director, and one of the sellers. Details of the proposed acquisition have been Oasis Harvest bercadang utk ambil alih 100% ekuiti Metta Food (pengendali jenama 1958 dan Cafe Chef Wan) dengan nilai RM30.8 juta sebagai usaha strategik memperluaskan empayar F&B dan hospitaliti Chef Wan kekal sebagai ikon utama jenama 👍 — StratCommX (@StratCommX) Show Me The Money: Profit Promises and Payment Plans The sellers seem pretty confident about how well these restaurants will do. They're so sure that they've promised the restaurants will make at least RM5.6 million in profit over the next two years (until June 2026). As for how they're paying for all this, Oasis Harvest has it planned out. RM6 million will come from selling some property they own, and they'll borrow the remaining RM24.8 million from banks. Strategic Growth: Adding Star Power to the Restaurant Portfolio Ch'ng Eu Vern, who's an Executive Director at Oasis Harvest, explains that this purchase makes a lot of sense for them. This acquisition perfectly aligns with our strategic vision to diversify and strengthen our offerings in the F&B, travel, leisure, and hospitality sectors. Chef Wan's prominent brands will significantly complement and expand our existing portfolio They already own other restaurant chains, such as Uncle Don's and Verona Trattoria, and adding these Chef Wan restaurants will help them expand further in the food, travel, and hospitality industries. Once everything's finalised, Oasis Harvest plans to find ways to run all its restaurants more efficiently together. It's like adding new members to their restaurant family, but making sure everyone works well together. Proof in the Pudding: Growth and Success While some social media comments have questioned why Chef Wan doesn't fully own his 1958 and Cafe Chef Wan restaurants, the current 20% ownership structure through his holding company, is The misconception that celebrity chefs should be sole proprietors overlooks the complex reality of running a restaurant chain, where substantial capital investment and business expertise are crucial for success and expansion. The current partnership model has proven effective, with the brand expanding to eight outlets across the Klang Valley and Melaka, while maintaining its quality standards and brand value. The proposed RM30.8 million acquisition deal by Oasis Harvest, which is still pending finalisation, would further validate the effectiveness of this business model, suggesting that having professional investors and operators handle the business side is beneficial. At the same time, the celebrity chef's focus on culinary excellence and brand development can be a winning formula in the competitive food and beverage (F&B) sector. Chef Wan Sets the Record Straight on Business Structure As Chef Wan clarified in his social media post, he maintains his 20% equity in the business through Metta (the investment company that owns 80% of the group of companies), and continues to manage the recipes, kitchen and chefs. At the same time, his business partner handles overall management. Beyond the equity stake, Chef Wan also receives 5% of the gross monthly revenue for living expenses—a business structure he chose after consulting with corporate lawyers and successful corporate friends to leverage his global brand and recipes, which he has built over 37 years in the industry. He strongly criticised those spreading misinformation and calling for boycotts based on racial issues regarding Chinese investors, warning that such defamatory statements could lead to legal consequences. As he pointed out, many businesses in Malaysia operate through multi-racial partnerships, and he urged critics to 'do their homework' before making unfounded accusations. Parts of this story have been sourced from Share your thoughts with us via TRP's . Get more stories like this to your inbox by signing up for our newsletter.
New Straits Times
04-06-2025
- Business
- New Straits Times
Oasis Harvest to buy Chef Wan-branded restaurant, cafe chains for RM30.8 mil
KUALA LUMPUR: Oasis Harvest Corporation Bhd, a Bursa Malaysia-listed food and beverage (F&B) player, has proposed to acquire the entire equity interest in Metta Food & Lifestyle Sdn Bhd (Metta) for RM30.8 million. Metta is the operator of banquet-themed restaurants and cafes under the brands 1958 by Chef Wan and Cafe Chef Wan. In a statement today, Oasis Harvest executive director Ch'ng Eu Vern said the acquisition includes a profit guarantee from the vendors, ensuring Metta achieves a cumulative audited profit after tax of at least RM5.6 million over two years ending June 30, 2026. This reflectes strong confidence in the long-term growth and profitability of the enlarged group, he said. "This acquisition perfectly aligns with our strategic vision to diversify and strengthen our offerings in the F&B, travel, leisure, and hospitality sectors. Chef Wan's prominent brands will significantly complement and expand our existing portfolio," he added. According to Ch'ng, the strategic acquisition will enable Oasis Harvest to broaden its culinary offerings, benefiting from Metta's market recognition, operational expertise, and the prestigious reputation of international celebrity chef Datuk Redzuawan Ismail, famously known as Chef Wan. Post-acquisition, Oasis Harvest intends to streamline Metta's operations with existing brands such as Uncle Don's and Verona Trattoria. In a filing with Bursa Malaysia yesterday, Oasis Harvest said the purchase will be financed partly by reallocating existing proceeds from a proposed property disposal (RM6 million) and supplemented by bank borrowings (RM24.8 million). The proposed acquisition is deemed as a related party transaction as Datuk Seri Tan Ooi Han, who is Oasis Harvest executive director and major shareholder, is also a vendor as well as a director and shareholder of Metta. SCS Global Advisory (M) Sdn Bhd has been appointed as the independent adviser to advise the non-interested directors and non-interested shareholders of the company in relation to the proposed acquisition.
The Sun
04-06-2025
- Business
- The Sun
Oasis Harvest acquires Chef Wan dining brands for RM30.8m
KUALA LUMPUR: Bursa Malaysia-listed food and beverage (F&B) player Oasis Harvest Corporation Bhd has proposed to acquire the entire stake in Metta Food & Lifestyle Sdn Bhd for RM30.8 million. The acquisition will enhance Oasis' presence in the domestic F&B sector with renowned dining brands such as 1958 by Chef Wan and Cafe Chef Wan. Metta, through its establishments, is known for banquet-themed dining experiences and cafes that capture diverse culinary tastes. This strategic acquisition enables Oasis to broaden its culinary offerings, benefiting from Metta's market recognition, operational expertise, and the prestigious reputation of international celebrity chef Datuk Redzuawan Ismail, famously known as Chef Wan. Commenting on the acquisition, Oasis executive director Ch'ng Eu Vern said this acquisition perfectly aligns with the company's strategic vision to diversify and strengthen offerings in the F&B, travel, leisure, and hospitality sectors. 'Chef Wan's prominent brands will significantly complement and expand our existing portfolio,' he said in a statement. The acquisition includes a profit guarantee from the vendors, ensuring Metta achieves a cumulative audited net profit of at least RM5.6 million over two years ending June 30, 2026, reflecting strong confidence in the long-term growth and profitability of the enlarged group. Post-acquisition, Oasis intends to streamline Metta's operations with existing brands such as Uncle Don's and Verona Trattoria. Leveraging Metta's central kitchen will enhance operational efficiency, cost management, and consistent food quality across the company's establishments. 'We are dedicated to creating a cohesive and integrated ecosystem across our brands to optimise shared resources, enhance our market presence, and deliver improved profitability. 'This strategic acquisition strengthens our competitive edge and underscores our commitment to offering exceptional dining and hospitality experiences,' he said. The acquisition will be financed partly by reallocating existing proceeds and supplemented by bank borrowings. Oasis anticipates this corporate exercise, pending approval by shareholders and relevant authorities, to contribute positively to company earnings and overall shareholder value. With Malaysia's F&B and hospitality sectors displaying robust growth driven by tourism and consumer spending, Oasis remains optimistic about its future prospects. This strategic move highlights the company's ongoing dedication to innovation, outstanding service, and sustainable growth for all stakeholders.
New Straits Times
30-05-2025
- Business
- New Straits Times
CIMB's Q1 net profit rises to RM1.97bil on RM5.5bil revenue
KUALA LUMPUR: CIMB Group Holdings Bhd recorded a higher net profit of RM1.97 billion for the first quarter ended March 31, 2025, up from RM1.94 billion in the same period last year, supported by stronger net interest income (NII). Its revenue slipped slightly to RM5.5 billion from RM5.6 billion in the same period last year, mainly due to compressed net interest margins (NIM). However, this was cushioned by growth in assets. CIMB's NII saw a slight increase both quarter-on-quarter (QoQ) and year-on-year (YoY) to RM3.82 billion. Meanwhile, its non-interest income (NOII) rose 11.1 per cent QoQ, supported by an 18.9 per cent jump in treasury client sales and a 12.6 per cent rise in fee and commission income. In a filing with Bursa Malaysia, the banking group said it remains committed to implementing its Forward30 strategic plan, focusing on customer-centric initiatives, enhancing operational efficiency, and promoting sustainable banking practices. "During the quarter, CIMB transitioned its leadership in Thailand and Cambodia, and have included Thailand, Cambodia and Singapore as part of the group's growth markets to sharpen strategic focus and drive growth in priority segments. "In the medium term, CIMB believes the evolving global landscape will continue to present new opportunities, particularly in intra-Asean trade, where the Group's integrated Asean franchise is poised to seize growth prospects," it added. CIMB stated that it is well-equipped to manage ongoing market volatility, thanks to its limited exposure to trade-related financing and clients heavily reliant on exports to the US. Group chief executive officer Novan Amirudin said CIMB's first-quarter results reflect the resilience of its diversified Asean portfolio, with solid performance across various income streams, especially client franchise income, which has been steadily growing since 2022. "We have maintained healthy asset quality and exercised disciplined cost controls to enhance resilience amid a dynamic operating environment. "In an increasingly uncertain market condition, we remain committed to being a reliable and trusted partner for our customers. Novan said the group's strong focus on prudent risk management and operational discipline has positioned it well to support its clients, maintain stability and create value for shareholders. "With disciplined execution of our Forward30 strategic plan, we are confident in our ability to deliver both short- and long-term targets, backed by the strength of our franchise. "We will remain disciplined and proactive with capital optimisation, including returning excess capital to our shareholders as we have demonstrated over the last two years," he added.
Barnama
29-05-2025
- Business
- Barnama
Ekuinas Committed Direct Investments Rose To RM4.9 Bln In FY2024
BUSINESS KUALA LUMPUR, May 29 (Bernama) -- Ekuiti Nasional Bhd's (Ekuinas) cumulative committed direct investment rose to RM4.9 billion in financial year 2024 (FY2024) from RM4.5 billion a year ago, with total economic capital deployed is RM5.6 billion. In a statement today, the government-linked private equity company said funds under management (FUM) increased by 19 per cent to RM5 billion. Its operating expenditure (OPEX)-to-FuM ratio remained steady at 1.1 per cent. The government-linked private equity company said the gross internal rate of return (GIRR) for Ekuinas Direct Tranche IV Fund was 38.9 per cent, while Tranche II Fund was 12.0 per cent. "Ekuinas Direct (Tranche III) Fund showed modest improvement with a GIRR of 1.6 per cent. Meanwhile, its outsourced programme reported GIRRs of 3.8 per cent (Tranche I) and -6.9 per cent (Tranche II)," it said. The earnings before interest, tax, depreciation and amortisation (Ebitda) of portfolio companies under Ekuinas Direct Funds grew by 3.3 per cent, rebounding from a 7 per cent contraction in 2023. UNITAR Education group recorded a soaring Ebitda of 77.2 per cent while Medispec (M) Sdn Bhd and Exabytes Capital Group achieved 48.7 per cent and 30.9 per cent Ebitda growth, respectively. "Ekuinas' headline achievement in FY2024 was the strategic divestment of a 50.2 per cent stake in ICON Offshore Bhd in March 2024. "Another key highlight was the roll-out of Ekuinas' RM800 million Private Credit Fund in November 2024 to provide shariah-compliant, highly bespoke and innovative financing to underserved mid-market businesses," it said. Chief executive officer Aliff Omar Mohamad Omar said the company sharpened its investment focus and unlocked meaningful value across portfolios.
