KFC Corp to be first fast-food chain allowed into Cambodia
- From: Chim <ChimS1@xxxxxxx>
- Date: Fri, 31 Aug 2007 03:00:30 -0700
Fri, 31 Aug 2007 09:24:00 GMT
Phnom Penh - Cambodia will welcome its first major international fast
food chain when KFC begins operations later this year, the managing
director of the major local shareholder said Friday. Vice chairman and
managing director of Cambodia's Royal Group of Companies Ltd, Oknha
Thieng Kith, confirmed Malaysian media reports of an imminent KFC
launch but said a major announcement would not be made until next
week.
"We are still ironing out final details, although I can confirm it is
happening," Thieng Kith said by telephone.
The joint-venture company bringing KFC to the kingdom will operate
between majority shareholder, Malaysia's QSR Branding Bhd, and two
other partners in Royal Group of Companies Ltd and Hong Kong's
Rightlink Corp Ltd.
Reports said QSR will hold a 55 percent share with Royal Group and
Rightlink holding 35 percent and 10 percent respectively.
Thieng Kith declined to give details on how many outlets were planned,
nor if any ingredients would be locally sourced. Supply has previously
been a factor in discouraging other giants in the field such as
McDonalds, which has a policy of locally sourcing.
Cambodia, still recovering from decades of war, imports between 60 and
80 percent of its vegetables and fruits from neighbouring countries
and has virtually no large-scale food production facilities.
Royal Group has made a specialty out of partnering with major
international firms in Cambodian investment ventures, including
telecommunications giant Millicom and ANZ Bank.
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