KUALA LUMPUR, Sept 20 (Bernama) – Pan Malaysia Corporation Bhd (Pan Malaysia) is forming a joint-venture company (JVco) with Singapore’s Baker & Cook Pte Ltd (B&C) to operate retail food and beverage franchise outlets.

In a filing with Bursa Malaysia today, Pan Malaysia said the JVCo would be managed by B&C, and the outlets would operate under the names “Baker & Cook” and “Plank Sourdough Pizza”.

The initial paid-up capital of the JVco would be RM1.5 million for 100,000 ordinary shares, with a 50:50 shareholding ratio between the two shareholders.

“The JVCo is not expected to have a material effect on the consolidated earnings of the group for the financial year ending June 30, 2019,” it added.