Malaysia’s QSR Brands to invest $238.7 mln in new KFC restaurants

Malaysian investment holding company QSR Brands announced that it will invest more than 1 billion ringgit ($238.7 million) in the coming years as it plans to add more outlets in the country.

QSR Brands agreed with Malaysian real estate developer Kepong Industrial Park (KIP) Group to start up new KFC drive-thru restaurants. It is seeking to open 67 new KFC outlets and another 60 Pizza Hut outlets over the next three years.

The company will develop two new KFC-drive thru restaurants at KIP Group’s retail outlets, namely KIP Mall Desa Coalfields in Sungai Buloh and KIP Mart Lavendar in Senawang.

KIP Group said the partnership is expected to boost KIP Real Estate Investment Trust’s occupancy rate and footfall to 1,500 visitors per day once it opens its doors to the public in December next year.