The Company has also Appointed Warren Wang as its Managing Director in Malaysia to Lead the Growth of the Business in the New Market
VANCOUVER, BC, June 15, 2022 /CNW/ - Just Kitchen Holdings Corp. ("JustKitchen" or the "Company") (TSXV: JK) (OTCQB: JKHCF) (FRA: 68Z), a technology-focused and enabled operator of ghost kitchens specializing in the development of delivery-only food brands, is pleased to announce the opening of two new ghost kitchen locations in Malaysia (the "New Locations"). The first location is situated within a COOX Kitchens facility in the Glo Damansara Mall (the "Mall") in Petaling Jaya (the "PJ Location"), which opened in late May. The second location is a standalone Spoke near the commercial centre of Kuala Lumpur, within the Pavilion district in Bukit Bintang ("Bukit Bintang Location") and is targeted to open in late June. The Company will utilize GrabFood, Foodpanda, and Shopee Food as delivery service partners for the New Locations.
The PJ Location is expected to benefit from the efficiencies of a shared commercial kitchen and JustKitchen will be occupying two of the facility's 26 kitchen stalls. Initially, JustKitchen is offering an assortment of proprietary and partner food brands from this location including MrBeast Burger, Another Wing, and BIT Beef Noodles. The Mall is a six-floor shopping center located in Kuala Lumpur, Malaysia that houses a supermarket, offices, restaurants, and retail stores.1 The Company also plans to open six to ten additional locations in and around Klang Valley in the suburbs of Jalan Ampang, Mont Kiara, Bangsar, Sri Petaling, Puchong, and Putrajaya/Cyberjaya. .
The Bukit Bintang Location is situated within walking distance from the commercial and tourist centre of Kuala Lumpur, which is also soon to be home to the 106-storey Tun Razak Exchange Tower – the new financial centre of the city. Bukit Bintang is the most prominent retail belt to many shopping and entertainment complexes in the heart of Kuala Lumpur. The Bukit Location is over 3,400 square feet and includes space for delivery and take-out services, as well as a self-serve dining area and will also serve as a mini-hub. An additional 3,400 square feet is to be used for JustKitchen's headquarters for Malaysia. The Bukit Bintang Location will prepare food from the menus of MrBeast Burger, Another Wing, BIT Beef Noodles, Curry Don, Body Fit, Thai High, Hutong, the pork-free version of In-Luck Taiwanese Delicatessen and Kitsutaya Curry, as well as pizza, boba tea and American breakfast brands being launched in the near future.
The Company also announces the appointment of Warren Wang as the Managing Director of JustKitchen in Malaysia, who has been hired to oversee the New Locations and future business development in the new market. Mr. Wang is the former General Manager of Dave and Buster's Taiwan; he has extensive experience in the international hotel industry as well as in the restaurant and lifestyle industries. Warren has worked with the Grand Hyatt Taipei, Ambassador Hotel Group and Warner Village Cinemas Taiwan.
Management Commentary
"We are happy to open two ghost kitchen locations in Malaysia and offer a variety of popular brands to consumers in and around Kuala Lumpur. We are grateful for the opportunity to expand JustKitchen into Malaysia and its densely populated communities," said Jason Chen, Co-Founder and Chief Executive Officer of JustKitchen. "I am confident that the New Locations will be under strong management with Warren Wang as our new Managing Director in the area and that, as a team, we will work to deliver high-quality food to a continuous set of new customers across Malaysia," added Mr. Chen.
ABOUT JUSTKITCHEN
JustKitchen is primarily a technology-focused and enabled operator of ghost kitchens specializing in the development and marketing of proprietary and franchised delivery-only food brands for customers. The Company currently operates in Taiwan, Singapore and Hong Kong with plans to expand operations to other Asian countries. JustKitchen uniquely utilizes a hub-and-spoke operating model, which features advanced food preparation taking place at larger hub kitchens and final meal preparation taking place at smaller spoke kitchens located in areas with higher population densities. The Company combines this operating model with online and mobile application-based food ordering fulfilled by third-party delivery companies, to minimize capital investments and operating expenses and reach more customers in underserved markets. The Company's other business, JustMarket, is an e-commerce grocery delivery platform that allows customers to purchase groceries for delivery or add select grocery items to meals ordered through JustKitchen.
For more information about the Company, please visit investors.justkitchen.com. JustKitchen's final prospectus, financial statements and management's discussion and analysis, among other documents, are all available on the Company's profile page on SEDAR at www.sedar.com.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
FORWARD-LOOKING STATEMENTS
This news release contains certain "forward-looking statements" within the meaning of such statements under applicable securities law. Forward-looking statements are frequently characterized by words such as "anticipates", "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed", "positioned" and other similar words, or statements that certain events or conditions "may" or "will" occur including but not limited to the Company's comments regarding the PJ Location expecting to benefit from the efficiencies of a shared commercial kitchen and opening in late May; the Bukit Bintang Location opening in late June; utilizing GrabFood, Foodpanda, and Shopee Food as delivery service partners for the New Locations; and the launch of pizza, boba tea and American breakfast brands in the near future. These statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks, including those risk factors identified in the Company's prospectus dated March 26, 2021, and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.
ENDNOTES
- "Glo Damansara Shopping Mall", Trip Advisor, 2022, https://www.tripadvisor.com/Attraction_Review-g298570-d10717941-Reviews-GLO_Damansara_Mall-Kuala_Lumpur_Wilayah_Persekutuan.html
SOURCE Just Kitchen Holdings Corp.
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