Latest news with #OasisHarvest
The Sun
4 days ago
- Business
- The Sun
Che Wan Group's partnership with Oasis Harvest a recipe for expansion, future growth
PETALING JAYA: Chef Wan Group's strategic partnership with Oasis Harvest Corporation Bhd is a major milestone in its next phase of growth, reinforcing its position as a beloved national culinary brand and propelling the group's future ambitions. Oasis Harvest, through investment holding company Metta Food & Lifestyle Sdn Bhd – a Malaysia-based investment company with a strong focus on developing, scaling, and nurturing premium food and beverage brands – is deeply involved in the growth and strategic development of Chef Wan Group, which includes renowned dining concepts such as 1958 and Cafe Chef Wan. Metta Food CEO and managing director of Chef Wan Group Andre Shum Khum Yuin said this exercise will allow the company to enhance the reach of Datuk Redzuawan Ismail's (Datuk Chef Wan) brand and continue its mission of sharing his culinary legacy with more people. 'With Oasis Harvest's support and partnership, we are confident that CWG (Chef Wan Group) will thrive and expand to new markets,' he said in a statement. Metta Food, with its expertise in the food and beverage sector and understanding of emerging culinary trends, together with Datuk Chef Wan, plays a role in elevating the group's brands while maintaining a close partnership with Datuk Chef Wan, whose culinary vision continues to shape the brand's identity. Chef Wan Group is known for its iconic dining experiences such as 1958 by Chef Wan and Cafe Chef Wan. Datuk Chef Wan, who remains actively involved in the direction of the brand, said, 'I'm honored to remain a guiding force behind the brand as we embark on this next phase. Our goal is clear: to preserve and celebrate Malaysia's culinary traditions while expanding our reach to food lovers everywhere and internationally.' As a 20% stakeholder in Chef Wan Group through Metta Food's subsidiaries, Datuk Chef Wan continues to play an integral role in shaping the brand's future, ensuring that his culinary vision remains central to its ongoing success. This exercise represents a significant development for Chef Wan Group, providing the necessary resources to propel the Chef Wan brand forward and strengthen its position in the culinary scene. Datuk Chef Wan's legacy remains central to its identity, and he continues to be an integral part of the group's growth. Chef Wan Group is excited about the partnership and opportunities ahead, and the brand's core values of quality, authenticity, and excellence will continue to guide its growth, as the group remains dedicated to representing Malaysia's rich culinary heritage consistently. 'We are immensely proud of CWG's success as a Malaysian-born brand,' said Shum. 'This exercise is not about changing who we are; it's about enabling the brand to grow and reach more people while remaining true to our roots.' With the continued support of its loyal patrons and stakeholders, Chef Wan Group is poised to expand its presence and elevate Malaysian cuisine.
Rakyat Post
5 days ago
- Business
- Rakyat Post
A Fresh Recipe for Success: Chef Wan's Restaurant Backer In RM30.8m Deal
Subscribe to our FREE Oasis Harvest Corporation, a food and beverage company listed on Bursa Malaysia, is making a big move in the restaurant world. They're planning to buy over Metta Food & Lifestyle, which holds an 80% stake in the companies operating 1958 by Chef Wan and Cafe Chef Wan restaurants, for RM30.8 million. The remaining 20% stake in these operating companies is owned by Chef Wan, whose real name is Datuk Redzuawan Ismail, through his company Redzuawan Ismail Holdings Sdn Bhd. The deal has an interesting twist because one of the key players, Datuk Seri Tan Ooi Han, wears multiple hats in this story. He's not just a big shareholder and executive director at Oasis Harvest – he's also involved with Metta as a shareholder, director, and one of the sellers. Details of the proposed acquisition have been Oasis Harvest bercadang utk ambil alih 100% ekuiti Metta Food (pengendali jenama 1958 dan Cafe Chef Wan) dengan nilai RM30.8 juta sebagai usaha strategik memperluaskan empayar F&B dan hospitaliti Chef Wan kekal sebagai ikon utama jenama 👍 — StratCommX (@StratCommX) Show Me The Money: Profit Promises and Payment Plans The sellers seem pretty confident about how well these restaurants will do. They're so sure that they've promised the restaurants will make at least RM5.6 million in profit over the next two years (until June 2026). As for how they're paying for all this, Oasis Harvest has it planned out. RM6 million will come from selling some property they own, and they'll borrow the remaining RM24.8 million from banks. Strategic Growth: Adding Star Power to the Restaurant Portfolio Ch'ng Eu Vern, who's an Executive Director at Oasis Harvest, explains that this purchase makes a lot of sense for them. This acquisition perfectly aligns with our strategic vision to diversify and strengthen our offerings in the F&B, travel, leisure, and hospitality sectors. Chef Wan's prominent brands will significantly complement and expand our existing portfolio They already own other restaurant chains, such as Uncle Don's and Verona Trattoria, and adding these Chef Wan restaurants will help them expand further in the food, travel, and hospitality industries. Once everything's finalised, Oasis Harvest plans to find ways to run all its restaurants more efficiently together. It's like adding new members to their restaurant family, but making sure everyone works well together. Proof in the Pudding: Growth and Success While some social media comments have questioned why Chef Wan doesn't fully own his 1958 and Cafe Chef Wan restaurants, the current 20% ownership structure through his holding company, is The misconception that celebrity chefs should be sole proprietors overlooks the complex reality of running a restaurant chain, where substantial capital investment and business expertise are crucial for success and expansion. The current partnership model has proven effective, with the brand expanding to eight outlets across the Klang Valley and Melaka, while maintaining its quality standards and brand value. The proposed RM30.8 million acquisition deal by Oasis Harvest, which is still pending finalisation, would further validate the effectiveness of this business model, suggesting that having professional investors and operators handle the business side is beneficial. At the same time, the celebrity chef's focus on culinary excellence and brand development can be a winning formula in the competitive food and beverage (F&B) sector. Chef Wan Sets the Record Straight on Business Structure As Chef Wan clarified in his social media post, he maintains his 20% equity in the business through Metta (the investment company that owns 80% of the group of companies), and continues to manage the recipes, kitchen and chefs. At the same time, his business partner handles overall management. Beyond the equity stake, Chef Wan also receives 5% of the gross monthly revenue for living expenses—a business structure he chose after consulting with corporate lawyers and successful corporate friends to leverage his global brand and recipes, which he has built over 37 years in the industry. He strongly criticised those spreading misinformation and calling for boycotts based on racial issues regarding Chinese investors, warning that such defamatory statements could lead to legal consequences. As he pointed out, many businesses in Malaysia operate through multi-racial partnerships, and he urged critics to 'do their homework' before making unfounded accusations. Parts of this story have been sourced from Share your thoughts with us via TRP's . Get more stories like this to your inbox by signing up for our newsletter.
New Straits Times
6 days ago
- Business
- New Straits Times
Oasis Harvest to buy Chef Wan-branded restaurant, cafe chains for RM30.8 mil
KUALA LUMPUR: Oasis Harvest Corporation Bhd, a Bursa Malaysia-listed food and beverage (F&B) player, has proposed to acquire the entire equity interest in Metta Food & Lifestyle Sdn Bhd (Metta) for RM30.8 million. Metta is the operator of banquet-themed restaurants and cafes under the brands 1958 by Chef Wan and Cafe Chef Wan. In a statement today, Oasis Harvest executive director Ch'ng Eu Vern said the acquisition includes a profit guarantee from the vendors, ensuring Metta achieves a cumulative audited profit after tax of at least RM5.6 million over two years ending June 30, 2026. This reflectes strong confidence in the long-term growth and profitability of the enlarged group, he said. "This acquisition perfectly aligns with our strategic vision to diversify and strengthen our offerings in the F&B, travel, leisure, and hospitality sectors. Chef Wan's prominent brands will significantly complement and expand our existing portfolio," he added. According to Ch'ng, the strategic acquisition will enable Oasis Harvest to broaden its culinary offerings, benefiting from Metta's market recognition, operational expertise, and the prestigious reputation of international celebrity chef Datuk Redzuawan Ismail, famously known as Chef Wan. Post-acquisition, Oasis Harvest intends to streamline Metta's operations with existing brands such as Uncle Don's and Verona Trattoria. In a filing with Bursa Malaysia yesterday, Oasis Harvest said the purchase will be financed partly by reallocating existing proceeds from a proposed property disposal (RM6 million) and supplemented by bank borrowings (RM24.8 million). The proposed acquisition is deemed as a related party transaction as Datuk Seri Tan Ooi Han, who is Oasis Harvest executive director and major shareholder, is also a vendor as well as a director and shareholder of Metta. SCS Global Advisory (M) Sdn Bhd has been appointed as the independent adviser to advise the non-interested directors and non-interested shareholders of the company in relation to the proposed acquisition.
