Gerbang Alaf Restaurants has requested BDS Malaysia to retract damaging statements, post an apology to McDonald's Malaysia, and cease any actions that harm the company's reputation.
McDonald's in Malaysia and Singapore is owned by the Reza Group, a company from Saudi Arabia that also operates McDonald's franchises in the western and southern regions of Saudi Arabia.
McDonald’s Corporation (NYSE:MCD) [Trend Analysis] retains strong position in active trade, as shares scoring -0.19% to $118.24 in a active trade session, while looking at the shares volume, about 3.35 Million shares have changed hands in this session. McDonald’s Corp. (MCD) released that it has selected Lionhorn Pte. Ltd. as the Developmental Licensee or DL for its Malaysia and Singapore markets. Lionhorn is led by Sheik Fahd and Abdulrahman Alireza, who bring 20 years of experience as the DL for the around 100 McDonald’s restaurants in the Western and Southern regions of Saudi Arabia.
The new DL assumed ownership of the McDonald’s business in Malaysia and Singapore on December 1, 2016, which comprises a total of 390 restaurants, over 80% of which were Firm-owned. Financial terms of the transaction were not revealed. Under the DL structure, McDonald’s transferred its ownership interest in McDonald’s Malaysia and Singapore and granted a license to the DL to run McDonald