SEOUL, June 20 (Korea Bizwire) — South Korean meals and beverage large SPC Group stated Monday it has arrange a three way partnership with Malaysia’s Berjaya Meals Bhd. in a transfer to increase its presence within the world halal meals market.
The 50:50 three way partnership, named Berjaya Paris Baguette Sdn. Bhd, stated it’s making ready to interrupt floor on a 40 billion-won (US$31 million) halal-certified manufacturing facility in Johor Bahru, Malaysia, with the completion scheduled for June subsequent yr.
Halal is the Arabic phrase for “lawful” and “permitted.” Halal meals is ready in response to spiritual guidelines for Muslims.
The 16,500-square-meter manufacturing facility will be capable to produce 100 forms of baked items, desserts and sauces for the primary Paris Baguette retailer to be opened in Malaysia’s capital, Kuala Lumpur, across the finish of this yr, in addition to different Paris Baguette shops in Singapore, Indonesia, Cambodia and Vietnam, SPC Group stated.
“We plan to penetrate into the worldwide halal meals market estimated at round $2 trillion yearly by constructing the halal-certified manufacturing facility in Malaysia,” stated Hur Jin-soo, president of SPC Group, who has been behind the corporate’s world enterprise.
He additionally stated SPC Group will additional increase its world enterprise by daring investments. He, nonetheless, didn’t elaborate.
Malaysia is SPC Group’s eighth abroad entry and has one of many largest Muslim populations amongst Southeast Asian international locations.
SPC Group stated it plans to open greater than 600 Paris Baguette shops in Southeast Asia by 2030, up from the about 30 as of the top of Could.