December 25, 2014 8:45 PM ET

Hotels, Restaurants and Leisure

Company Overview of Brahim's Holdings Berhad

Company Overview

Brahim’s Holdings Berhad provides in-flight catering, restaurant, and warehousing and logistics services in Malaysia. The company offers in-flight catering services at the Kuala Lumpur International Airport and Penang International Airport to international and national carriers; and provides cabin handling services, such as laundry services for pillows and blankets, and filling the cabin trolley with items for in-flight sales, as well as passenger headsets, newspapers, and periodicals. It operates a portfolio of fast food and casual dining restaurants, and cafes at the Kuala Lumpur International Airport and Penang International Airport, as well as sells coffee beans to various hotels. The co...

Menara Hap Seng

7-05, 7th Floor

Jalan P. Ramlee

Kuala Lumpur,  50250

Malaysia

Phone:

60 3 2072 0730

Fax:

60 3 2072 0732

Key Executives for Brahim's Holdings Berhad

Brahim's Holdings Berhad does not have any Key Executives recorded.

Brahim's Holdings Berhad Key Developments

Brahim's Holdings Berhad Enter into Memorandum of Understanding with Carpenter Beef Pty Ltd for the Purpose of Entering into Joint Venture

The Board of Directors of Brahim's Holdings Berhad announced that the company had on 2 December 2014 entered into a memorandum of understanding with Carpenter Beef Pty Ltd. for the purpose of entering into a joint venture for the reasons as set out in Section 3 (a). CB was incorporated in Australia, and is operating from Perth, Western Australia. CB supplies cattle to the live export trade and domestic beef to Australia’s supermarkets and supplies high and medium value beef to the major Asian markets. CB is finalizing the development of an abattoir which is designed to meet all China, EU, USDA and Halal requirements. The plant will have a capacity of 100,000 carcasses per annum on a single shift basis, with a 400 head per day capacity. The first stage of completion will produce a 4-way cut facility. Upon additional CAPEX of AUD 15 million, the plant will be fully operational within 6 to 9 months from investment date. The salient terms of the MOU, which include amongst others, are as follows: an investment by Brahim’s of 49% in the Cataby Abattoir project with the remaining held by CB. The parties agree it is essential that the Project receives Jabatan Kemajuan Islam Malaysia’s endorsement and certification and that Brahim’s seeks to enable financial consolidation of the joint venture. In this regard, when it deems expedient to do so, CB will facilitate Brahim to allow majority control of at least 51% to enable performance of the above expectations; Brahim’s to be the major off taker for the products produced by Cataby Abattoir; CB shall be the responsible party to operate the Cataby Abattoir and overall program management of cattle as feedstock for the abattoir including sourcing, procurement, custom feeding and holding of cattle; and future expansion opportunities to collaborate in breeding capabilities of high, medium and low value cattle, partnership in feedlot development, and management of farmland and open range cattle farming. The objective of the MOU is to form a joint venture to draw on the inherent competence and synergies of the respective parties revolving around Abattoir and feedlot development and new markets facilitated by Brahim’s supply chain. The MOU will allow Brahim’s to tap into the opportunity of co-owning the Cataby Abattoir, as a Halal Compliance abattoir, with CB as its partner. The MOU is not expected to immediately have material effects on the earnings per share, net assets per share, gearing, share capital and substantial shareholders’ shareholding of Brahim’s for the financial year ending 31 December 2014.

Brahim's Holdings Berhad Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014

Brahim's Holdings Berhad reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, revenue was MYR 89,691,000 against MYR 100,082,000 a year ago. Profit before taxation was MYR 5,685,000 against MYR 16,525,000 a year ago. Profit attributable to owners of the company was MYR 1,011,000 or 0.43 sen per basic share against MYR 6,496,000 or 3.01 sen per basic share a year ago. For the nine months, revenue was MYR 274,500,000 against MYR 285,709,000 a year ago. Profit before taxation was MYR 23,716,000 against MYR 36,613,000 a year ago. Profit attributable to owners of the company was MYR 6,730,000 or 2.88 sen per basic share against MYR 10,185,000 or 4.74 sen per basic share a year ago. Net cash used to operating activities was MYR 45,437,000 against net cash provided by operating activities of MYR 7,180,000 a year ago. Purchase of intangibles assets was MYR 384,000. Purchase of plant and equipment was MYR 7,783,000 against MYR 8,604,000 a year ago.

Brahim's May Divest Up To 40% In An SPV

Brahim's Holdings Berhad (KLSE:BRAHIMS) has acquired the Burger King franchise from Ekuiti Nasional Bhd. Post-acquisition, a special purpose vehicle (SPV) will be set up in which Brahim's will hold an 80% stake. Brahim may divest up to 40% equity in the SPV to a strategic co-investor.

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