26 Jul '16, 8am

McDonald's seeks franchise partners for Singapore, Malaysia stores

HONG KONG/SINGAPORE McDonald's Corp (MCD.N ) said it is seeking franchise partners for its restaurants in Malaysia and Singapore as part of its move to away from direct ownership and operation in Asia. "McDonald's has taken the decision to adopt a development licensee model for the Malaysia and Singapore markets in order to enable focused investment in the brand and speed up growth in these key Asian markets," a Singapore-based spokeswoman at McDonald's said in a statement on Tuesday. McDonald's said it was negotiating with "suitable candidates," for the Malaysia and Singapore markets, but did not provide any details or a timeline. Sources told Reuters that some suitors looking at both countries had begun to tap banks for financing options to buy the 20-year franchise rights. The sources declined to be identified as they were not authorized to speak to the media. The move ...

Full article: http://www.reuters.com/article/us-mcdonalds-singapore-idU...

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