RECENT LIBERALISATION OF LOAN SCHEME TO PROMOTE MALAYSIAN RESTAURANTS ABROAD

KUALA LUMPUR, April 23 (Bernama) -- Recent liberalisation of terms and
conditions in the loan scheme for the Malaysia Kitchen Global Campaign is
expected to promote more Malaysian restaurants abroad.

The campaign is an initiative by the government to create awareness and
demand for Malaysian restaurants around the world.

International Trade and Industry Minister Mustapa Mohamed said in order to
attract interest for expansion of Malaysian restaurants overseas, Exim Bank had
revised equity conditions owned by Malaysia from 70 to 51 per cent.

"Also, there are also no restrictions on the number of Malaysia dishes to be
served at the Malaysian restaurants overseas," he said during the launch of
the Malaysia Kitchen Global Campaign.

According to Mustapa, the repayment structure has also been liberalised to a
maximum of five years inclusive of a six-month grace period plus three-month
moratorium.

"The government allocation for Exim Bank to promote the Malaysia Kitchen
Global Campaign amounted to RM180 million (US$52.94 million), of which RM20
million (US$5.88 million)has been disbursed," he said.

The loans are also open to all franchises from Malaysia, at an interest rate
of three per cent.

Mustapa said Malaysia External Trade Development Corporation (Matrade) as
coordinator of the Malaysia Kitchen Global Campaign was aggressively marketing
the programme in London and New York.

He said the Malaysia Kitchen Dining Promotion in the Metro and Evening
Standard newspapers in London had resulted in an average increase in patronage
of 25 per cent for the partcipating restaurants.

"View London, the largest online guide, and the Foodpedia.co.uk food and
drink website have given positive reviews on the Malaysian restaurants at their
sites as a result of the promotion undertaken," he added.

Matrade chief executive officer Noharuddin Nordin said there are now
465 Malaysian restaurants overseas, located in 29 countries.

Noharuddin said a key component the global campaign was the development of
a web portal which provided information to visitors about Malaysian restaurants
overseas, their locations and site maps.

"Information on Malaysian cuisine, recipes, events and happenings at these
restaurants are also featured," he said during the launch.
-- BERNAMA


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