Domestic Trade and Cost of Living Ministry targets potential investments of RM50 million from trade mission to Indonesia

JAKARTA - The trade mission to Indonesia involving 12 Malaysian franchise companies has targeted to generate RM50 million in potential investments, according to the Domestic Trade and Cost of Living Ministry.

Two memoranda of understanding (MoU) between MyeongDong Topokki and Genius Aulad brands and their partners in Indonesia were signed relating to the opening of outlets here.

"The two MoUs will involve investments worth RM7.5 million," said ministry secretary-general Datuk Azman Mohd Yusof in a statement here, today.

Azman, who led the Malaysian Franchise Association delegation, is confident that the 12 companies would reap investment returns for the country.

The brands comprise Marrybrown, Globalart, HOME Maths Therapy, Smart Reader Kids, Laundrybar, Q-dees, US Pizza, MY Art Studio, Mokti’s, MyeongDong Topokki, Genius Aulad, and Little Caliphs.

Azman also officiated the Malaysia Franchise Pavilion at the International Franchise, Licence and Business Concept Expo and Conference in Tangerang, Banten, Java from Aug 25-27.

The exhibition gathers more than 150 franchise companies from various countries to promote their franchise businesses.

Azman is scheduled to officiate the third US Pizza outlet in Jakarta and visit the MyeongDong Topokki and Globalart outlets to check out their operations. - BERNAMA