Tim Ho Wan Malaysia Outlets Officially Closed Down
It is a tough year for food and beverage business in Malaysia as famous Hong Kong dim sum restaurant Tim Ho Wan will ceased their operations. It is another shocker as they opened their first outlet in Mid Valley Megamall three years ago.
According to TheEdgeMarkets.com, Penang-based food and beverage firm Texchem Resources Bhd announced that Dim Sum Delight Sdn Bhd, the operator of two Michelin-star Tim Ho Wan restaurants in Malaysia, has ceased business operations due to challenging future prospects.
For the financial year ended Dec 31, 2016 (FY2016), Dim Sum Delight incurred a loss of RM895,642, and “is not expected to turn around in the near future”, Texchem said in a Bursa Malaysia filing today.
You can read the article HERE.
We still remember visiting Tim Ho Wan’s original shop in Mongkok, Hong Kong 2011 (read review HERE) before they go on a huge expansion in Asia. Then, Tim Ho Wan Malaysia invited us for their opening review in Mid Valley in 2014. You can read the review HERE.
Currently there are two Tim Ho Wan outlets in Malaysia and they are in Mid Valley Megamall and 1 Utama Shopping Mall.
Tim Ho Wan was popular due to its Michelin One Starred recognition many years ago and it was the cheapest back then. With its huge popularity, it grows tremendously in Hong Kong and later to many other Asian countries like Singapore, Malaysia and Thailand.
Tim Ho Wan is not the first food brand to leave Malaysia. Tous Les Jous Malaysia also left the country just months ago. Looks like there will be more food and beverage business to close shop in Malaysia this year and we just have to wait and see.