Jakarta, Indonesia Sentinel — Support the growth and expansion of Richeese Factory outlet network across Malaysia, the Indonesia Eximbank, officially known as Lembaga Pembiayaan Ekspor Indonesia (LPEI), has extended overseas financing facility. The financial assistance comes in the form of a Term Loan – Corporate Finance facility provided to Richeese Factory Malaysia Sdn. Bhd a subsidiary of Indonesia’s Nabati Group.
LPEI’s partnership with Nabati Group began in December 2023. This financing arrangement aligns with LPEI’s mandate as a government agency to promote Indonesia’s gastrodiplomacy initiatives through the export of services, particularly by enhancing Indonesia’s commercial presence abroad. It is also part of the “Indonesia Spice Up the World” program, which aims to increase the global exposure of Indonesian food products, boost their competitiveness, and assist local businesses in penetrating international markets.
The initiative is expected to serve as a gateway for Indonesian brands, like Richeese Factory, to gain recognition and acceptance in various countries. Chong Kok Yeow, Director of Richeese Factory Malaysia Sdn. Bhd., expressed his pride in bringing an authentic Indonesian brand overseas.
“With the support of Indonesia Eximbank, we are optimistic that Richeese Factory can grow further and elevate Indonesia’s reputation in the international market. We hope this partnership will continue to thrive, creating mutually beneficial solutions,” Chong stated.
Recheese Factory Malaysia
Richeese Factory Malaysia, wholly owned by Nabati Group, focuses on the fast-food sector. The brand sees significant potential in the Malaysian market, which boasts a much higher GDP and chicken consumption per capita—50.5 kilograms compared to Indonesia’s 12.7 kilograms. This offers a substantial opportunity for the brand to tap into Malaysia’s large consumer base.
As of December 2023, Richeese Factory Malaysia operated several outlets, with plans to expand further in 2024. By October 2024, the company had established 55 outlets across West Malaysia, including key regions like Kuala Lumpur, Malacca, Johor, Penang, and Selangor.
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Anton Herdianto, Acting Managing Director of Business at LPEI, highlighted that the overseas financing facility is a testament to LPEI’s support for Indonesian companies investing abroad.
“We view Nabati Group, through Richeese Factory Malaysia, as an inspiring example of Indonesian pride on the global stage. This facility is expected to bolster business growth and unlock more international opportunities,” Anton remarked.
With this strategic support from LPEI, Richeese Factory Malaysia is set to strengthen its foothold in the competitive fast-food market, showcasing the potential of Indonesian brands on a global scale
(Raidi/Agung)
