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Oriental Kopi Unit Forms $1 Million Restaurant JV in Indonesia; Shares Up 3%

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Oriental Kopi (KLSE:KOPI) unit Oriental Coffee International formed a $1.2 million joint venture with Indonesia's PT Era Boga Nusantara to expand the Oriental Kopi restaurant brand in Indonesia, according to a Friday filing with Bursa Malaysia.

The venture will operate restaurants under the Oriental Kopi name, initially focusing on Jakarta while excluding Medan and airport locations.

Oriental Kopi will hold a 40% stake in the venture, investing $480,000, while PT Era Boga Nusantara will own the remaining 60%, contributing $720,000.

The joint venture aims to begin restaurant operations within one year, with Oriental Kopi funding its investment through internally generated funds and/or bank borrowings.

Shares of the restaurant operator were up nearly 3% in recent trade.

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