Kulim (Malaysia) Bhd, a company own by Johor Corporation Bhd, has proposed to take over QSR Brand Bhd, holding company of Kentucky Friend Chicken or KFC Holdings (M) Bhd.
Upon completion of the deal, Johor state government , which control Johor Corporation Bhd would become the ultimate owner of KFC Holdings (M) Bhd.
Johor state government has been identified as one of the bankrupt state by the central government not too long ago.
If the state government have money, why don't they repay it to central government.
Although I am not satisfied with the present management of KFC as they no longer provide knift to customer to eat chicken. However, I do not agree state or federal government step in and compete with private sector.
State government should concentrate on improving the water industry if they really keen on doing business. Rather then compete with private sector in the fast food industry.
KFCH managing director apparently never feel displeasure on such move and he seek approval from YUM! International to disposed of his 5% stake in the company.
Ex-KFCH Chairman apparently has pledged his 20% stake in the company to Soh Chee Wen. This cause him loss control of the company.
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