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SINGAPORE: Apex-Pal International has signed an agreement with Malaysia's Yotei to buy over the chain of Genki Sushi outlets in Malaysia.
The deal is worth 3.88 million ringgit or S$1.64 million.
With the purchase, Apex-Pal will take over the four Genki Sushi outlets in Malaysia and convert them to Apex-Pal's brands of restaurants.
Apex-Pal currently has nine outlets in Malaysia.
The deal is expected to increase Apex-Pal's market share there from 13 per cent to about 20 per cent.
Apex-Pal manages a global chain of 60 Sakae Sushi restaurants in seven countries, covering 12 major cities. - CNA/vm
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