By Chelsea J Lim and Syafiqah Salim
KUALA LUMPUR (March 5): Paramount Corp Bhd (KL:PARAMON) is open to considering other food-and-beverage franchises following its entry into the business last year, its chief executive officer (CEO) Jeffrey Chew said on Thursday.
Several franchise holders have approached Paramount about their businesses since the company bought a stake in the operator of Texas Chicken restaurants last year, Jeffrey Chew said at an earnings briefing. Paramount has yet to seriously consider any of the offers, he noted.
“However, it’s something we are open to, if there are opportunities and the valuation is attractive,” Chew said.
Paramount acquired the 28% stake in Envictus International Holdings Ltd from JAG Capital Holdings Sdn Bhd, the private investment vehicle of Investment, Trade and Industry Minister Johari Abdul Ghani, last year for about RM126.32 million in cash.
Envictus currently operates 104 Texas Chicken restaurants and 50 San Francisco Coffee outlets in Malaysia. It plans to add at least another 15 Texas Chicken outlets by September this year.
Chew said Paramount currently has no plan to increase its stake in Envictus, although the option could be revisited in the longer term depending on market conditions.
“Maybe three to five years down the road, when things change and depending on the purchase price, we may take a look at it,” he said.
For the financial year ended Sept 30, 2025, Envictus recorded a profit after tax of RM30.2 million, which accounts for less than 10% of Paramount’s earnings.
As published: The Edge