The move is in line with McDonald's plans to bring in partners as it switches to a less capital-intensive franchise model in Asia. Sources said CIMB would provide the bulk of the term loan to back the deal, and the financing would be denominated in both Malaysian ringgit and Singapore dollars. In July, McDonald's had said it was seeking franchise partners for its restaurants in Singapore and Malaysia and was negotiating with parties, but did not provide any details or a timeline. McDonald's has about 120 restaurants in Singapore and about 260 in Malaysia. Citing sources, Reuters reported last month that McDonald's had received final bids from at least three groups for its China and Hong Kong outlets.

Source: The Edge Markets October 05, 2016 11:43 UTC