Saudi Fast Food Chain Plans To Set Up Logistics Hub In Malaysia

KUALA LUMPUR, April 1 (Bernama) -- Saudi Arabia's fast food chain, Albaik Food Systems Co Ltd is interested to invest US$25.76 million (RM100 million) to set up an industrial and logistics hub in Malaysia, as a gateway to the ASEAN market. Chief executive officer (CEO) Rami Abu Ghazaleh said the main step before entering any market was to ensure the company picked the right location for the industrial and logistics hub. "DWA Advisory Sdn Bhd will advise us on the best location for the investment. "We need a market with good infrastructure and a government that is supportive of businesses...Malaysia is on the top of our list," he told reporters after handing over the certificate of appointment to DWA Advisory as its project manager, here, Thursday. The ceremony was witnessed by Malaysian International Trade and Industry Minister, Mustapa Mohamed. Following the appointment, DWA Advisory will undertake a feasibility study on the expansion of Albaik Food Systems in the ASEAN market, which is expected to be completed in six months. Rami said the industrial and logistics hub would become the backbone of the company's operations in the region, ensuring high quality food production while maintaining its competitiveness. DWA Advisory Managing Principal, Wan Asmadi Wan Ahmad, said as the project manager, it would also assist in manpower recruitment, obtaining relevant regulatory approvals and setting up of business in relation to the potential expansion into Malaysia. He said the hub facilities would not only be used to support Albaik Food Systems' expansion in the region, but also for the possibility of re-exporting back to Saudi Arabia. Meanwhile, Malaysia External Trade Development Corporation CEO, Dzulkifli Mahmud, who was also present at the event, said Albaik Food Systems' expansion plan would become a catalyst to spur more bilateral trade and investment opportunities between Malaysia and Saudi Arabia. "Saudi Arabia is our second largest trading partner in the Gulf Cooperation Council, whereby our total trade amounted to US$2.83 billion (RM11 billion) last year," he added. --BERNAMA