Hextar Retail Bhd is acquiring the assets of a Zok Noodle House outlet in Bandar Sunway for RM1.25 million as part of its expansion into the food and beverage (F&B) sector.
The acquisition will be undertaken through Craving Hub Sdn Bhd, a 51%-owned indirect subsidiary of Hextar Retail, and covers the outlet’s inventory, equipment, licences, tenancy rights, brand goodwill, and customer database at Sunway Square.
In a Bursa Malaysia filing, Hextar Retail said the purchase aligns with its strategy to diversify and strengthen its presence in the F&B business.
The transaction is deemed a related-party transaction due to overlapping shareholdings and directorships, although the company said it is not expected to have a material impact on its financial position.
Craving Hub is 51%-owned by Hextar F&B Sdn Bhd, a wholly-owned subsidiary of Hextar Retail, while the remaining stakes are held by Zok Noodle House Sdn Bhd and Maxliaw Ventures Sdn Bhd.
Zok TRX shareholder Wong Yew Loong also serves as a director of Craving Hub, while Zok TRX majority shareholder Datuk Ong Choo Meng is a substantial shareholder of Hextar Retail through Hextar Portfolio Sdn Bhd. Hextar Retail managing director Vo Nghia Huu is considered a connected person as he is Ong’s brother-in-law.
The company said the RM1.25 million purchase price was determined based on the carrying value of the assets. Payment will be made within 60 days from the effective date of June 1, unless otherwise agreed by both parties.
For the first quarter ended March 31, 2025 (1QFY2026), Hextar Retail recorded a net loss of RM1.32 million, widening from a net loss of RM550,000 a year earlier, despite revenue rising 96.6% to RM30.36 million.
As at the end of March, the group had total assets amounting to RM201.5 million. Shares of Hextar Retail closed unchanged at 43 sen on Monday, giving the company a market capitalisation of RM215.3 million. Year-to-date, the stock has declined by 8.5%.
