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BRAHIM’S CONSIDERING DISPOSING OF 70% STAKE IN BRAHIM’S FOOD SERVICES

--------------------------------------------------------------------------------


 * Corporate News

 * Friday, 08 Sep 2023
   
   6:36 PM MYT
   


   RELATED NEWS
   
   --------------------------------------------------------------------------------
   
   Corporate News 09 Sep 2023
   
   
   BRAHIM’S CONSIDERS SALE OF 70% STAKE IN BFS
   
   Markets 45m ago
   
   
   BURSA MALAYSIA DERIVATIVES TO LAUNCH ITS FIRST CURRENCY FUTURES...
   
   Corporate News 19h ago
   
   
   SIME TO ACQUIRE REMAINING STAKE IN UMW

   

Brahim’s Holding Bhd executive chairman Datuk Seri Ibrahim Ahmad - YAP CHEE
HONG/The Star

SEPANG: In-flight caterer, Brahim’s Holdings Bhd (BHB), is prepared to dispose
of 70 per cent of its stake in Brahim’s Food Services (BFS) to assist the
restructuring of the latter’s financial position, BHB executive chairman Datuk
Seri Ibrahim Ahmad said.

He said several interested local and foreign companies have held discussions
with BHB regarding the matter.



"We do intend to let go of the 70 per cent at the right and fair price (and)
there are local interested parties and foreign interested parties but that’s all
in discussion and no decision has been made.

"We expect to conclude (the negotiation) as soon as possible,” he said at a
press conference here today.




The remaining 30 per cent stake in BFS is held by Malaysia Airlines Bhd (MAB).

Meanwhile, BHB’s chief executive officer Mohd Fadhli Abdul Rahman said BHB is
open to renegotiate with Malaysia Aviation Group (MAG), the parent company of
MAB, following the termination of the catering contract with MAB after 25 years
on Aug 31.

"We are very open to welcome them back but of course, the term must be fair
between both parties. If the term is fair then we are willing to accept, no
problem,” he said.

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FUEL TO IGNITE YOUR DAY

He said overall, the in-flight catering services offered by BHB is still running
as usual despite the termination of the catering contract with MAB, thus,
dispelling claims by some parties that the company is problematic.

"If we are problematic, how could we supply food to 10 of the world’s best
airlines?” he said.

Currently, BFS provides services to 35 foreign airlines with clients including
Qatar Airways, Turkish Airlines, Japan Airlines and Korean Air.

MAG activated a Business Continuity Plan (BCP) for in-flight meal services on
selected routes under MAB effective Sept 1. - Bernama



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Tags / Keywords: Brahim’s , Brahim’s Food , MAB , MAG , Ibrahim Ahmad , Malaysia
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RELATED NEWS

--------------------------------------------------------------------------------

Corporate News 09 Sep 2023


BRAHIM’S CONSIDERS SALE OF 70% STAKE IN BFS

Markets 45m ago


BURSA MALAYSIA DERIVATIVES TO LAUNCH ITS FIRST CURRENCY...

Corporate News 19h ago


SIME TO ACQUIRE REMAINING STAKE IN UMW


RELATED NEWS

--------------------------------------------------------------------------------

Corporate News 09 Sep 2023


BRAHIM’S CONSIDERS SALE OF 70% STAKE IN BFS

Markets 45m ago


BURSA MALAYSIA DERIVATIVES TO LAUNCH ITS FIRST CURRENCY...

Corporate News 19h ago


SIME TO ACQUIRE REMAINING STAKE IN UMW




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FBM KLCI

1442.85

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FBMKLCI



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Thursday, 7 Dec 2023



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