KUALA LUMPUR (June 21): Focus Dynamics Group Bhd has subscribed to 138.05 million rights issue shares of Saudee Group Bhd, equivalent to a 19.37% stake in the latter’s share capital.
In a statement today, the group said the share subscription was pursuant to the memorandum of understanding (MOU) inked by the two companies in relation to the rolling out of a robotics-based manufacturing facility and the development of robotic burger kiosks.
“After six months of exploration and discussion, both the companies have decided to cement the partnership, with Focus taking a substantial stake of 19.37% in Saudee.
“The funds will be deployed into research and development (R&D) to streamline Saudee's current operations by including more robotics processes in their current manufacturing operations and additional allocation for automated and robotic burger kiosks,” said Focus Dynamics.
The parties have set up a working committee to jointly develop the technology, aiming to launch the robotic kiosks within 12 months.
It said the kiosks will feature seamless and automated functions, such as providing accurate measurements of dressings, perfectly grilled meat patties and toasted buns at automated kiosks and food trucks.
The company said the outlets will be available via a franchisee model either under its own brand or via owner-operator models.
“Automation, digitisation and artificial intelligence have been Focus' primary direction with its F&B concepts. With the launch of Mixobot in its flagship premises Lavo in April 2021, Focus intends to bring about the whole technological push into the F&B space in the years to come,” it said.
Focus Dynamics fell 0.5 sen or 12.5% to close at 3.5 sen for a market capitalisation of RM223.03 million.