McDonald's Malaysia to invest RM1.4 billion in 9 years

KUALA LUMPUR: McDonald's Malaysia will be investing RM1.4 billion in the next nine years as part of its expansion plans.

For starters, RM363 million has been dished out for the next three years, which will see 33 new restaurants coming into shape, while 86 more will be remodeled and some 2,000 new jobs created, said McDonald's Malaysia managing director and operating partner Azmir Jaafar.

Last year, Saudi Arabia's Lionhorn Pte Ltd bought over the rights to McDonald's Malaysia and Singapore as the Developmental Licensee.

Azmir said a big portion of the investment will come from McDonalds' own funds while an undisclosed portion will come from Lionhorn.

McDonald's recorded a year-on-year revenue growth of 16% in 2016 and is looking to repeat this with a double digit growth in revenue and profit this year.

However, the value of the revenue and profits earned was not disclosed owing to the company's status as a private company.