Tuesday 23 Apr 2024
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KUALA LUMPUR (May 26): Brahim's Holdings Bhd said the collaboration between its 51%-owned subsidiary Brahim's SATS Food Services Sdn Bhd and 7-Eleven Malaysia Sdn Bhd has come into effect.

This follows the signing of a service agreement, it said in a filing today to Bursa Malaysia today.

Under the partnership, announced in a April 12 memorandum of understanding (MoU) between the two sides, Brahim's SATS will plan, develop, and create menu specifications and products to be marketed through 7-Eleven's convenience stores.

In turn, 7-Eleven will provide a centralised distribution centre for Brahim's SATS to deliver its products.

Meanwhile, in separate filings to the exchange, Brahim's said its MoUs with Servair Investissments Aeroportuaries (S.I.A.) and Dhyafat Albalad Alameen Co Ltd have lapsed.

To recap, Brahim's and S.I.A., which is a subsidiary of French airline catering company Servair, had entered into the MoU on Jan 21, 2015 to collaborate and improve commercial and industrial cooperation in airline catering business based on each other's 'know-how' competency.

The objective of the MoU was to draw on the parties' core competencies in the airline catering business and airport services.

Additionally it was to enable Brahim's to benefit from using the Servair brand mark and for S.I.A. to tap into Brahim's halal certification expertise.

Brahim's and Dhyafat, on the other hand, had on March 6, 2014 entered into a MoU to formalise their intention to collaborate and establish a joint venture company to develop food manufacturing, production and services in Makkah, Saudi Arabia.

Dhyafat is a private development company owned by the Municipality of Holy Makkah. Its role is to identify, assess and develop business opportunities with private partners to improve hospitality and tourism services in Makkah.

The two sides were to collaborate and cooperate to bring to fruition the project of setting up a food factory in Makkah to produce, sell and distribute food products to interested parties.

The MoU was also inked with the intention to tap other opportunities in trading, food services, restaurant operations, industrial catering including in-flight catering, logistics and warehouse management including cold storage, and consultancies.

At 3.31pm today, Brahim's share price was unchanged at RM1.02 for a market capitalisation of RM243.37 million.

 

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