KUALA LUMPUR (June 22): Hextar Retail Bhd (KL:HEXRTL) is acquiring the assets of a Zok Noodle House outlet in Bandar Sunway for RM1.25 million as it expands its food and beverage business.

The acquisition, through its 51%-owned indirect subsidiary Craving Hub Sdn Bhd, includes the restaurant’s inventory, equipment, licences, tenancy rights, brand goodwill and customer data at its outlet at Sunway Square. Hextar Retail in a filing said the deal supports its strategy to diversify into the F&B sector.

The transaction is classified as a related-party deal due to overlapping shareholding and directorship interests. However, the group said the acquisition is not expected to have a material impact on its financial position.

Craving Hub is 51% owned by Hextar F&B Sdn Bhd, which in turn is a wholly-owned subsidiary of Hextar Retail. The remaining interests in Craving Hub are held by Zok Noodle House Sdn Bhd and Maxliaw Ventures Sdn Bhd.

Zok TRX shareholder Wong Yew Loong is also a director of Craving Hub while Zok TRX’s majority shareholder Datuk Ong Choo Meng is a major shareholder of Hextar Retail through Hextar Portfolio Sdn Bhd.

Managing director Vo Nghia Huu is also regarded as a connected person by virtue of his relationship as a brother-in-law to Ong.

Hextar Retail said the purchase price was based on the carrying value of the assets. Payment is to be made within 60 days from the effective date of June 1, unless both parties agree otherwise.

For the first quarter ended March 13, 2025 (1QFY2026), Hextar Retail slipped further into the red with a net loss of RM1.32 million compared to a net loss of RM0.55 million in the previous corresponding quarter while revenue was higher by 96.6% at RM30.36 million.

Its total assets stood at RM201.5 million as at end-March.

Shares of Hextar Retail ended flat at 43 sen on Monday’s market close, giving the group a market capitalisation of RM215.3 million. Year-to-date, its shares have declined by 8.51%.