July, 2016 | Biz Info

Monthly Archives: July 2016

McDonald’s plans to sell Malaysia, Singapore franchises

McDonald’s Corp is planning a sale of 20-year franchise rights in Malaysia and Singapore that could collectively fetch at least US$400mil, people with knowledge of the matter said.

Suitors for the fast-food operations in the two Southeast Asian markets have begun sounding out banks for financing, said the people, who asked not to be identified because the information is private. A potential bidder is in talks with lenders for as much as US$300mil in funding, they said.

McDonald’s is seeking local franchise partners to run its restaurants in Malaysia and Singapore as it pursues an international turnaround plan put in place after CEO Steve Easterbrook took over last year.

The Big Mac maker, which has a US$112bil market value, is revamping its ownership models throughout Asia, including plans to sell operations in China, Hong Kong and South Korea.

McDonald’s has adopted a “development licensee model” for the two markets, a Singapore-based spokeswoman for the company said in an e-mailed response to Bloomberg queries. It is negotiating with candidates “who are committed to helping accelerate growth and innovation in Malaysia and Singapore,” she said.

Unlike in its other major markets — including the U.S. — most McDonald’s outlets in Asia are company-owned. The chain aims eventually to have 95% of its restaurants in the region under local ownership, it said in March.

McDonald’s currently has more than 120 restaurants with around 9,000 employees in Singapore, according to its local website. In Malaysia, the chain runs more than 250 restaurants, its website shows.

Attended Archidex 16 in KLCC (Kuala Lumpur Convention Centre)

Yesterday, I attended Architecture Festival or abbreaviated at Archidex 16 in KLCC and I stayed at the nearby 5-star Mandarin Oriental Hotel using the Elite voucher for 50% discount from RM 1,100 per nite to RM 550 per night excluding taxes and GST. Managed to collect a free golf umbrella with 4 colours, a panda toy pen holder covered in velvet, some notepads, coasters, 2 mugs and 2 diaries with lots of colourful canvas bags and pens. Due to space limitation here in this blog, I did not post the pictures here taken at the exhibition. And if you would get a stamp each from Halls 9 and 6, you stand a chance to win a trip to Venice, Italy with RM 3,000 cash for 2 persons. There is also a premium place for coffee breaks with free coffee, creamer, etc for the free flow. It was worth visiting and next year, I will definitely register a place for the 17th installment.

csgo item hack

I was surfing the website when I came across csgo item hack. To find out more information and if curiosity kills the cat, then check out the link above. It is something new to me also and looks like part of an online game or something like counter strike global offensive. Playing online games can also earn you money by selling weapons as you overcome each challenge one after another.

Network Tigers

There is a website selling wireless access points, firewalls, and other tech gadgets in Network Tigers, where you can click on the link to find out more information. It has a neat shopping cart with safe and secure payment gateway to accept credit card payments and have the items delivered right to your doorsteps.

The site is easy to navigate and neat. Online shopping is becoming more and more common and convenient at the touch of the keyboard and computer mouse. This is the miracle of the internet, allowing people to do business online that crosses borders and reach the masses 24/7 all the time.

Virtual and Augmented Reality Pro Store

I was browsing through the internet this evening when I came across a virtual and augmented reality pro store with a safe and secure shopping cart known as VR where you can click on the link to find out more information. It has robust payment gateway where you can type in your credit card details on the robust system of AR and order the items online at the comfort of home or office. Then you can have the items delivered right to your door steps at the touch of the keyboard.

By checking out WEARVR, you will get the drift of what I mean when you browse through the website with e-commerce. This is the magic of using technology to bring the world together which reach the masses across borders and in a jiffy.

Tax Invoices to Update

I have to create purchase receive using a cloud GST system from the many tax invoices for June 2016. It is also time to pay income tax for my boss as a sole proprietor to customs. Last month, I registered online for him to file his returns for the first time via the internet. I went to the customs department to get a PIN number that correlates to his IC number and from it, registered online and gave the password to my accountant. The last day to file is 15 of July this month for companies. So far a few calls to my accountant went unanswered, and I guess probably she is on a long holiday somewhere and does not want to be bothered. With GST, the tax collection is more broad based and not limited to the few thousands who pay tax regularly.

Classic Teddy Cafe at 1st Avenue Mall

Classic-Teddy-Cafe

Classic Teddy Cafe recently opened on the 4th level of 1st Avenue Mall in Penang. It is a British establishment with a teddy bear theme. This photo was taken at the entrance with the famous UK soldier with a tall black hat and rifle in red blazer and black pants. It is located opposite Sakae Sushi and near the rest rooms. The place was left vacant for some time until it was refurbished for the new cafe.

Mushroom-soup

For starters, I ordered mushroom soup for RM 10 per bowl that comes with thick gravy and chopped button mushrooms and perhaps some black shitake mushrooms and soup cream outlining a teddy bear face. I also had Earl Grey tea in a cute teddy bear designed mug while my friend ordered strawberry smoothie topped with whipped cream in a clear container.

The mushroom soup tasted delicious with plenty of mushrooms flavour in a thick soup. The Earl Grey Tea was just right and I had a sip of the strawberry smoothie that was pleasant and sweet.

Pan-Fried-Seabass

For the mains, I had pan-fried seabass with florets of broccoli and carrots on the sides. There was a scoop of mashed potato drizzled with gravy together with the seabass that came in a big portion. My friend had barbecued chicken breast with the same vegetables on the side.

I think the seabass would have tasted better with a slice of lemon to squeeze out the juice for that extra kick and more sauce like lemon butter or even thousand island. As it was quite new, except for another table and our table, the rest of the place was empty, perhaps due to its pricey selections.

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