NetX Holdings Bhd has formed a strategic partnership with Saudi Cold Storage Sdn Bhd, a subsidiary of Saudee Group Bhd, to enter the rapidly growing fast-food consumer market in Malaysia.
The collaboration involves the establishment of a joint venture company, with NetX holding a controlling 51% equity stake, while Saudi Cold Storage retains the remaining 49%.
The flagship location for their new fast-food chain, branded as "Saudi Burger," is slated to open its doors in December 2023 at Sungei Wang Plaza in the heart of Bukit Bintang, Kuala Lumpur.
In pursuit of expansion, NetX aims to franchise an additional 20 Saudi Burger outlets across Malaysia within the next three years, with ongoing collaboration with their partners to execute this exciting rollout plan.
NetX ED, Steven Tan, said the partnership signifies NetX's entry into Malaysia's competitive fast-food landscape, with a strong commitment to substantial growth and development in the near future.