Sheng Tai International Sdn Bhd (Sheng Tai), an award-winning home grown developer and a proven specialist in property tourism, recently unveiled a RM10 million fund to support the growth of the franchise industry in Malaysia.
The fund is accessible to the entire franchise community who are members of the Malaysian Franchise Association (MFA). These include franchisors, would-be franchisors, master franchisees, would-be master franchisees as well as suppliers and vendor of franchises.
The launch of the fund was marked with a signing ceremony between Sheng Tai and MFA, represented respectively by Dato’ Leong Sir Ley, Founder and Chairman of Sheng Tai, and Datuk Dr Radzali Hassan, Chairman of MFA.
Commenting on the move, Leong said, “We are in a unique position to provide support for the local business community as we are able to leverage on our strategically located property assets, our presence in Greater China and other countries, our experience in sales and marketing as well as our extensive network of vendors and suppliers in Malaysia and overseas.”
Members of MFA will have access to up to RM200,000 interest free financial aid (terms apply) when they open an outlet at one of Sheng Tai’s projects in Malaysia, namely “The Sail” and “Metrasquare”, in Melaka.
Rental fees for the first six (6) months will be waived while a rental rebate for another six (6) months will apply based on revenue sharing or base rent, whichever is lower.
Tenants will also get to market their products at Sheng Tai International’s One Stop Centres, located in Kuala Lumpur, Japan, Hong Kong and Shanghai, as well as leverage on its media partners for a specific period of time.
They would also be entitled to become part of the fastest-growing membership programme, Sheng Tai World Card Membership, which has over 50,000 members currently.
Datuk Dr Radzali meanwhile said, “We are pleased to be working with Sheng Tai International and believe this initiative will play a part in stimulating the retail and franchise industry.”
According to the Minister of Domestic Trade and Consumer Affairs, Datuk Alexander Nanta Linggi, the food and beverage industry and the education sector have plunged by 70% and 80% respectively during the Movement Control Order (MCO).
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