KUALA LUMPUR (Feb 10): OldTown Bhd, an Ipoh-based coffee beverage manufacturer and operator of the OldTown White Coffee café chain, is expanding to Yangon, Myanmar as part of its plan to venture into other territories in Southeast Asia. In a filing with Bursa Malaysia today, OldTown said its wholly-owned subsidiary Kopitiam Asia Pacific Sdn Bhd has executed a licence agreement with Nikmat Mujur Sdn Bhd and its director and majority shareholder Low See Nam to operate OldTown White Coffee café outlets in Yangon within nine months. The term of the licence agreement is for five years, with an option to renew for one consecutive term of five years. Under the agreement, Nikmat Mujur will hold an exclusive licence to operate three outlets in Yangon for 24 months. The company will also have a non-exclusive right to use the OldTown White Coffee trade name and trade mark, to operate the system, to sell the approved products and to provide specialised services within Yangon.

Source: The Edge Markets February 10, 2017 11:48 UTC