PETALING JAYA: Loob Holding Sdn Bhd, the former master franchisee of bubble tea chain Chatime in Malaysia, has strongly refuted all the allegations contained in a press statement issued by La Kaffa International Co Ltd of Taiwan recently. Last Friday, the Taiwan franchisor of the popular Chatime terminated its agreement with Malaysian company Loob Holding, saying that Loob Holding “used raw materials that were not part of the approved recipe”. “Suffice for us to point out the following at this juncture,”said Loob Holding chief executive officer Bryan Loo in a press conference yesterday. For Chatime, Loob Holdings had made early substantial investments to secure an aggregate 30-year tenure ending in 2041, prior to the termination of the agreement. “We will be ready to launch our new bubble tea brandname by early next month.

Source: The Star February 06, 2017 23:46 UTC