Tag: Loob Holding
People with knowledge of the matter say the firm is considering seeking a valuation of as much as RM1 billion and targets a listing next year.
Both agree to withdraw all court and arbitral proceedings in Malaysia and Singapore.
Mahkamah Persekutuan membenarkan permohonan Loob Holiding Sdn Bhd menangguhkan perintah Mahkamah Rayuan bertarikh 27 Jun.
The Federal Court ruled that there were special circumstances to allow Loob Holding's application.
It says the decision to allow affected outlets to return and re-operate under Chatime was made due to overwhelming requests.
It will also file a stay application to maintain present status quo until final settlement of entire legal process.
Chatime Malaysia group MD Aliza Ali says legal letter was issued yesterday to the former Chatime master franchisee.
This means Loob Holdings Sdn Bhd can continue its Tealive business throughout its 161 stores.
Will Group takes over the bubble milk tea franchise from Loob Holding.
Former Chatime master franchisee Loob Holdings' numbers contradict that of Taiwanese owner who claims that almost 50 out of 165 outlets will remain with them.