Texchem Resources Bhd, a Penang-based food and beverage firm, has announced that Tim Ho Wan operator Dim Sum Delight Sdn Bhd has shut down due to “challenging future prospects”.
Texchem, which owns 51% share in DSD, said in a Bursa Malaysia filing that as of 31st December 2016, DSD incurred a loss of RM895,642, and “is not expected to turn around in the near future”.
“Accordingly, the shareholders of Dim Sum Delight are of the opinion that Dim Sum Delight should cease its business operation to minimise losses,” Texchem added.
Known to be “The Dim Sum Specialist”, Tim Ho Wan (添好運) is a hole-in-the-wall eatery hailing from Hong Kong that has been named the world’s cheapest Michelin-starred restaurant. In November 2014, Tim Ho Wan opened its first Malaysian branch at Boulevard, Mid Valley City. A couple of months later, a second outlet at 1 Utama Shopping Centre in Bandar Utama followed.
At this time, Texchem, is yet to ascertain the extent of the closure costs. “Texchem will provide updates on this matter in due course,” it said, adding that its board of directors have considered all aspects and is of the opinion that the cessation is Texchem’s best interest.
Dubbed the world’s cheapest Michelin-star restaurant, its dim sum have won the plaudits of food critics and the hearts of epicureans around the world. Tim Ho Wan has 45 locations around Hong Kong, China, Taiwan, Singapore, the Philippines, Australia, Vietnam, Thailand, and the US.
Sources: Sin Chew, The Edge Markets, Texchem.
