PETALING JAYA: Oversea Enterprise Bhd
(OEB) will be expanding its business to accommodate other cuisines and concepts and include lifestyle and entertainment modules into its ecosystem.
In a statement, the restaurant chain operator and food manufacturer said it would complete a rights issue totalling RM68mil to fortify its expansion plans.
Executive director Benson Tay said the rights issue had been earmarked for acquisition of new brands, expansion and refurbishment of its restaurants and factories as well as digitalisation.
“The first steps have already been taken, with the opening of EMP KL, our first pork-free offering based in the Westin Kuala Lumpur, which provides a fine dining experience with Chinese food,” he said.
According to Tay, the company aims to be recognised as an international brand.
“We don’t wish to be defined as a traditionally pure Chinese cuisine and confectionary provider but instead as an international brand with multiple avenues of entertainment, food and beverage lifestyle options spanning multiple locations.“Although we have many customers from different generations choosing to dine with us, we are conscious that the new era of diners has different tastes and we aim to stay ahead of the curve by constantly evolving,” Tay said.
OEB has been in Chinese cuisine-themed restaurants since the 70s.
It owns and operates nine food outlets across the country as well as a manufacturing facility that produces mooncakes, egg rolls and western cookies.
