KUALA LUMPUR (Nov 10): Focus Dynamics Group Bhd has acquired a 16.67% equity stake in Hong Kong-listed food and beverage (F&B) group Top Standard Corp for RM7.85 million.

In a statement today, Focus Dynamics said the acquisition was carried out through its 100%-owned Hong Kong subsidiary Focus Dynamic Group Ltd.

Top Standard is a restaurant group that offers Sichuan cuisine under the "San Xi Lou" brand and has been listed on Hong Kong's Growth Enterprise Market since 2018.

"Top Standard has been a mainstay in the Hong Kong restaurant industry and is consistent in its delivery of high-end quality Chinese and Japanese cuisine to discerning diners," said Focus Dynamics.

The group said the partnership with Top Standard is in line with its expansion plans with Oversea Enterprise Bhd to bring the Oversea brand onto the international stage.

"With this investment, Focus Dynamics will be able to tap into Top Standard, who is a long-time industry player and has numerous award-winning brands under its belt.

"Their industry expertise and know-how in rolling out restaurants and operating in China and Hong Kong markets are invaluable in our plans to expand the EMP by Oversea brand into Shanghai and Hong Kong," said Focus Dynamics executive director Benson Tay Ben Seng.

On Oct 7, Focus Dynamics announced that it had signed a heads of agreement with Oversea Enterprise Bhd to embark on an international expansion plan and brand enhancement strategy for the Oversea restaurant brand.

The companies said they would pool resources, skill sets, investment and experience to execute an international network of new age Chinese restaurants, under the Oversea banner.

Shares in Focus Dynamics have been trending upwards since mid-April, and were seen to pick up drastically in late-June. The counter closed at 20 sen on June 25, and rose more than threefold to 84.5 sen yesterday.

Today, Focus Dynamics closed 5.5 sen or 6.51% lower at 79 sen with a market capitalisation of RM4.85 billion.