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YB DATO’ MUKHRIZ MAHATHIR
DEPUTY MINISTER OF INTERNATIONAL TRADE AND INDUSTRY
INTERNATIONAL FRANCHISE SIGNING CEREMONY
SECRET RECIPE CAKES & CAFÉ
with
SECRET RECIPE RESTAURANTS INDIA PVT. LTD &
FABA GLOBAL GROUP CO., LTD, CAMBODIA
19 DECEMBER 2011 (MONDAY)
MECC HALL, MATRADE
Assalamualaikum W.B.T, Good Afternoon and Salam 1Malaysia.
His Excellency Mr. Sevala Naik,
Deputy High Commissioner of High Commission of India;
Mr. Puth Hemonna,
Counsellor of Trade of Royal Embassy of Cambodia;
Dato’ Steven Sim,
Chief Executive Officer of Secret Recipe Cakes & Café Malaysia;
Mr. Chelikam Rajashekara Reddy and Mr. Ganesan KP Vijayan,
Directors of Secret Recipe Restaurants India Pvt. Ltd;
Mr. Luu Meng and Mr Ung Lyheng,
Directors of Faba Global Group Co., Ltd Cambodia;
Dr. Wong Lai Sum,
CEO of MATRADE;
Senior Directors Representatives from MATRADE;
Senior Representatives from Malaysia Franchise Association (MFA);
Senior Representatives from Malaysian Retailer-Chains Association (MRCA);
Senior Officers from MITI;
Members of the Media;
Distinguished Guests.
1. First and foremost, please allow me to extend my appreciation to Secret Recipe Cakes & Café Malaysia for having me here to witness the signing of the Memorandum of Agreement (MOA) between Secret Recipe Cakes & Café with Secret Recipe Restaurants India Pvt Ltd and, and Faba Global Group Co. Ltd Cambodia and to officiate this significant occasion.
2. The signing of these two memoranda will be a very positive boost in encouraging local brands, SMEs and companies to take similar paths. The collaboration between these companies represent the type of partnerships that we hope to see more of in the future. That is, partnerships that will bring together local enterprises and foreign investors, so that all parties can benefit from the cross provisions of best practices and trades.
Distinguished Guests,
3. Secret Recipe has been one of Malaysian’s favourite household names for many years now and has never failed to please and tempt our taste buds especially with its award-winning cheese cakes. In fact, Dato’ Steven has informed me that next year will be their 15th Anniversary. For the last 14 years, I believe many Malaysian families have grown up with this brand. We are proud to have such a strong brand with great products, born and bred in Malaysia.
4. I recall when I was involved in building the franchise industry through MFA a few years ago, Secret Recipe was growing its outlets steadily and had about 150 outlets at that time, and today they have grown to more than 211 outlets in Malaysia itself and another 76 outlets overseas. Their overseas outlets are also expanding quickly to fill the gaps in China; I believe there are 12 outlets in Shanghai and another 6 outlets in Melbourne, Australia.
5. For your information, over the last decade the local franchise industry enjoyed a healthy pace of growth between 10 per cent and 15 per cent each year.
6. As a matter of fact, the franchise industry currently contributes about 6 per cent to our country's retail sector revenue, while in the US and Australia franchises contribute more than 50 per cent. Therefore, it is evident that there is great potential and room for growth in this sector locally.
7. In this context, the Government is giving a lot of focus to SMEs and the franchise industry in line with the ETP (Economic Transformation Programme) to achieve key economic objectives. An example of support in this area will be The National Franchise Development Blueprint which has been finalised and launched recently to spur the franchise industry to greater heights.
Honourable Guests,
8. As franchise penetration to overseas markets is expected to grow between 10 per cent and 25 per cent next year especially among Asian countries-developing countries in high gear like India and Cambodia are both on the radar screens of global companies and businesses looking for expansion. Their anticipated economic growth, demographics expansion and robust GDP trends makes for a robust and very attractive consumers market. Thus, Secret Recipes venture into these markets is timely.
9. Secret Recipe’s strength lies in its branding, product positioning and franchise expansion that has opened many doors and possibilities for its ventures into the international arena. Though operating via the café chain outlets, through the franchise concept, Secret Recipe is able to also create further exports and trade from its manufacturing of food products to their overseas franchisees under the franchise system.
10. Consequently, Secret Recipe’s venture to overseas markets have increased their own manufacturing and productions activities from their base here in Malaysia as export volumes sharply increase as they now supply their own products to ten countries. Secret Recipe’s 360 degrees franchise and business model that includes managing the supply chain, manufacturing, export trade and franchise is truly commendable. Well done.
Honourable Guests,
11. Without further ado, I would like to thank you for joining me this afternoon and I commend all parties involved and wish you great success in your partnerships. Before I take my leave, I would like to once again thank the organisers for their kind invitation. I would also like to extend my sincere appreciation to His Excellency Sevala Naik for his support.
12. And with this I end my short speech with a quote – ‘Life has no limitations, except the ones you make’.
Thank you. |
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