Berjaya Food Bhd reported its fifth consecutive quarterly loss, with a 46 per cent drop in revenue to RM247.3 million for the six months ending December 31, 2024, citing...
How in the world did a plane flip upside down on a Toronto runway and everyone survive? Experts explain ‘Don’t panic’ : Earth’s options to city-killer asteroid that might hit in seven yearsAccording to its 2024 annual report, Berjaya Food operates 408 Starbucks outlets across the country as of June 30, 2024.
— Picture By Raymond ManuelBerjaya Food Bhd reported its fifth consecutive quarterly loss, with a 46 per cent drop in revenue to RM247.3 million for the six months ending December 31, 2024, citing boycotts over the Middle East conflict as the main factor. Despite challenges, the group remains focused on expansion and diversification, while founder Tan Sri Vincent Tan’s call to end the Starbucks boycott sparked controversy. KUALA LUMPUR, Feb 21 — Berjaya Food Bhd reported today its fifth straight quarterly loss, blaming pro-Palestine boycott against American brands as the reasons behind its financial struggles. The group, which operates the Starbucks and Kenny Rogers franchise in Malaysia, reported a pre-tax loss of RM67.09 million in the six-month period ending December 31, 2024. Its pre-tax revenue in that period was RM247.3 million — a whopping 46 per cent steep fall from RM461.09 million in the same period the previous year. “The lower revenue and higher loss from operations in the current quarter under review were mainly attributed to the prolonged impact of the ongoing sentiment related to the Middle East conflict,” it said in its quarterly financial report dated yesterday. “The lower revenue and pre-tax loss were mainly due to the abovementioned reasons,” it added, referring to performance in the second half of 2024. Berjaya Food shares opened at 34 sen per unit this morning, its lowest since 34.5 sen per unit in November 18 last year. “While the Starbucks brand faces challenges, the Group remains committed to growth and diversification by expanding its brand portfolio and leveraging opportunities locally and internationally,” the group said in the report. According to its 2024 annual report, the group operates 408 Starbucks outlets across the country as of June 30, 2024. It also operates five stores of French-based Korean bakery chain Paris Baguette, and 70 Kenny Rogers Roasters outlets in Malaysia. Other brands under the group include soy product chain Joybean, vegan fast food chain Sala, and ice-cream brand Kelava. In January, Berjaya founder and tycoon Tan Sri Vincent Tan stoked public anger after he was reported telling Malaysians that they should not boycott Starbucks any more after a Gaza ceasefire was brokered between Hamas and Israel., Starbucks Malaysia refuted claims that over 100 of its stores in the country had closed, saying most of its locations were just temporarily closed as part of a strategic review aimed at better aligning the company’s operations and no jobs were lost.
Starbucks Middle East Conflict Pro-Palestine Boycott
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Malaysian Embassy in Bangkok Assists in Search for Missing Malaysian ManThe Malaysian Embassy in Bangkok is working with Thai authorities to locate a missing Malaysian man named Andy Jee Ying Kit, who was last reported in Bangkok on January 8th. His family and the embassy are seeking public assistance in finding him.
Read more »
Malaysian Flood Evacuees Decline While Brussels Shooting Leaves No Malaysian CasualtiesFlood evacuees in Sabah and Sarawak, Malaysia, saw a decrease in numbers over the weekend. However, the Malaysian government ensured that no Malaysians were harmed in the Brussels shooting incidents.
Read more »
Berjaya Times Square Hotel Invites You to Experience Malaysia's Culinary Heritage with Klasik 3 RasaAs Ramadan approaches, Berjaya Times Square Hotel in Kuala Lumpur invites you to indulge in the Klasik 3 Rasa buffet, a culinary journey through Malaysia's diverse and flavorful cuisine. Available from March 3 to 28, this buffet offers a harmonious blend of Malay, Chinese, and Indian flavors, featuring over 150 dishes inspired by the country's rich culinary landscape. Indulge in aromatic rendang, spicy fish head curry, hearty Sup Gearbox, and the showstopping roasted lamb, all crafted by the hotel's culinary team led by Chef Rossham Rusli. This is more than just a meal; it's a celebration of tradition, unity, and togetherness.
Read more »
Anwar Proposes Estate-Government Housing Model Using Berjaya Land in SelangorPrime Minister Anwar Ibrahim has proposed a model for estate-government collaboration in developing workers' housing, citing the successful PRR Harmoni MADANI Bestari Jaya project as an example. This project, developed on land provided by Berjaya Corporation Berhad, addresses a longstanding housing issue for plantation workers in the Bestari Jaya area.
Read more »
Intervensi KPM berjaya turun ketidakhadiran calon SPMMenteri Pendidikan, Fadhlina Sidek berkata, pencapaian positif itu adalah kejayaan daripada pelbagai inisiatif yang dilaksanakan oleh pihak kementerian.
Read more »
Ibu, anak terperangkap dalam kebakaran berjaya diselamatkanSUBANG JAYA: Seorang wanita bersama anaknya berdepan detik cemas apabila terperangkap dalam kebakaran di sebuah rumah teres dua tingkat di Jalan SS 19/1C, SS19, di sini pagi tadi.
Read more »