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Rakyat Post
3 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
4 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.
Malay Mail
03-05-2025
- Health
- Malay Mail
Health Ministry warns of surge in online sales of illegal medicines after seizing RM37.5m worth in 2024
KUALA SELANGOR, May 3 — The Ministry of Health (MOH) seized 21,571 illegal health products worth RM37.5 million in 2024, an increase of nearly 8 per cent from the 20,157 items worth RM24.8 million confiscated in 2023. Health Minister Datuk Seri Dr Dzulkefly Ahmad said the majority of the seized items were unregistered products, particularly supplements, accounting for 17,630 cases, with an additional 3,941 units of cosmetics without MOH notification. 'This reflects a concerning trend, but the authorities are taking firm and proactive measures to tackle the issue,' he said after launching the Central Zone Reject Illegal Medicines Expedition (TOBaTS) programme today. Dzulkefly noted that nearly 70 per cent of the seized products were traced to complaints involving the online sale of medicines. He cautioned that the use of illegal medications can pose serious long-term health risks, potentially damaging vital organs such as the liver, kidneys and nervous system. Dzulkefly further explained that illegal medications generally fall into five categories: counterfeit drugs, products not registered with the Ministry of Health, items adulterated with banned substances, illegally sourced products and unapproved imports. He urged the public to be vigilant, particularly when buying health products online, and to always verify their authenticity. 'Consumers must ensure that every product carries a valid 'MAL' registration number and the Farma Tag security hologram. 'Verification can be done via the National Pharmaceutical Regulatory Division (NPRA) website at or through the FarmaChecker mobile app,' he said. He added that the public can also report any suspicious health products via the Public Complaint Management System (SisPAA) portal or by contacting the Pharmacy Enforcement Division at 03-7841 3200. — Bernama
The Sun
03-05-2025
- Health
- The Sun
MOH seizes RM37.5m in illegal health products in 2024
KUALA SELANGOR: The Ministry of Health (MOH) seized 21,571 illegal health products worth RM37.5 million in 2024, an increase of nearly 8 percent from the 20,157 items worth RM24.8 million confiscated in 2023. Health Minister Datuk Seri Dr Dzulkefly Ahmad said the majority of the seized items were unregistered products, particularly supplements, accounting for 17,630 cases, with an additional 3,941 units of cosmetics without MOH notification. 'This reflects a concerning trend, but the authorities are taking firm and proactive measures to tackle the issue,' he said after launching the Central Zone Reject Illegal Medicines Expedition (TOBaTS) programme today. Dzulkefly noted that nearly 70 percent of the seized products were traced to complaints involving the online sale of medicines. He cautioned that the use of illegal medications can pose serious long-term health risks, potentially damaging vital organs such as the liver, kidneys and nervous system. Dzulkefly further explained that illegal medications generally fall into five categories: counterfeit drugs, products not registered with the Ministry of Health, items adulterated with banned substances, illegally sourced products and unapproved imports. He urged the public to be vigilant, particularly when buying health products online, and to always verify their authenticity. 'Consumers must ensure that every product carries a valid 'MAL' registration number and the Farma Tag security hologram. 'Verification can be done via the National Pharmaceutical Regulatory Division (NPRA) website at or through the FarmaChecker mobile app,' he said. He added that the public can also report any suspicious health products via the Public Complaint Management System (SisPAA) portal or by contacting the Pharmacy Enforcement Division at 03-7841 3200.
New Straits Times
03-05-2025
- Health
- New Straits Times
RM37.5 mil worth of unregistered medicines confiscated last year, MOH says
KUALA SELANGOR: The Health Ministry has confiscated 21,571 unregistered medicines nationwide in 2024, totalling RM37.5 million. Its minister, Datuk Seri Dr Dzulkefly Ahmad, said this marks an increase compared to 2023, where a total of 20,157 items, including medicines, cosmetics and raw materials, were confiscated, valued at around RM24.8 million. In 2024, he said a total of 17,630 unregistered products were confiscated, including health supplements, along with 3,941 cosmetic products that were not notified to the ministry. "These figures send a clear message that the sale of illegal drugs is becoming more rampant — and efforts to combat it must be strengthened with a comprehensive approach and cooperation from all parties," he said at a press conference after launching the Kembara Tolak Ubat Tidak Sah (Reject Illegal Medicines Roadshow) programme here today. Dzulkefly added that the roadshow would be expanded to other regions, including Kelantan, Johor, Sabah, and Perak. He added that nearly 70 per cent of the confiscated products were made based on complaints about the sale of medicines online. He also warned that the consumption of unregistered medicines poses long-term health risks, including potential damage to vital organs such as the liver, kidneys and nervous system. He said the term unregistered medicine comprises five main types of offences commonly identified by the Pharmacy Enforcement Division: medicines not registered with the ministry; counterfeit medicines; products adulterated with scheduled substances or poisons; medicines obtained from unauthorised sources; and those imported without the ministry's approval. He advised the public to verify the authenticity of health products before making a purchase by checking for the 'MAL' registration number and the FarmaTag™ hologram security label. "Verifications can also be done via the National Pharmaceutical Regulatory Agency website or by using the FarmaChecker mobile app," Dzulkefly said.
