Subscribe to our FREE Newsletter, or Telegram and WhatsApp channels for the latest stories and updates.

Berjaya Food sold its stake in Paris Baguette Malaysia for RM1.

But walking away costs significantly more than that.

The Malaysian food and beverage company paid RM3.91 million to settle outstanding liabilities as a condition of the sale — meaning the true cost of exiting the loss-making bakery venture was closer to RM24 million, including its original RM20 million investment.

That investment, made when Berjaya Food entered the joint venture in July 2022, has since been fully written off.

The RM1 sale price reflected the reality on the ground: Paris Baguette Malaysia had accumulated RM67.09 million in losses since opening its doors in January 2023 — roughly RM22 million per year — and carried net liabilities of RM33.41 million as of December 2025.

Berjaya Food sold its entire 50% stake in the venture to its joint-venture partner, Paris Baguette Singapore, which now holds full ownership of the Malaysian operation.

A Promising Start

Paris Baguette, the popular South Korean bakery chain, arrived in Malaysia in early 2023 with considerable fanfare.

Its first outlet opened at Pavilion Kuala Lumpur, selling pastries, cakes, and sandwiches — and the queues were long enough to suggest the brand had found its footing.

The venture was a joint effort between Malaysian company Berjaya Food and South Korea’s SPC Group, the conglomerate behind the Paris Baguette brand.

More outlets followed quickly, spreading across major malls including 1 Utama and The Exchange TRX.

By 2025, the ambitions had grown bigger.

SPC Group opened a sprawling manufacturing facility in Nusajaya Tech Park, Johor — 12,900 square metres, Halal-certified, and built to produce up to 300,000 bakery items a day for Malaysia and the wider region.

On paper, it looked like a long-term bet on Southeast Asia; it didn’t work out that way.

Three Years, RM67 Million, One Ringgit

Despite the expansion, the business never turned profitable.

By the time Berjaya Food exited this month — selling its entire 50% stake for a symbolic RM1 — the venture had racked up RM67 million in losses over roughly three years.

The full cost to Berjaya Food, including its original investment and the liabilities it had to settle as part of the exit, came to nearly RM24 million.

The brand remains in Malaysia under SPC Group’s full ownership.

But for Berjaya Food, the Paris Baguette chapter is closed.

@malaysiafoodandtravel [🥰Trying the first HALAL Paris Baguette in Malaysia located at Pavilion KL!] ✅SAVE THIS FOR LATER! 🤩These are the top 4 best-seller in their shop: Salted Caramel Macaron 👉Thick filling and it’s sweet! Crab Croquette 👉String seafood taste! Garlic Bread 👉Soft and savory! Pain Au Chocolat 👉It was okay! These are what we’ve tried! Comment below if you LOVE any other items here 😍 📍Paris Baguette Pavilion Kuala Lumpur #parisbaguette #breads #koreanbread #pavillionkl #parisbaguettehalal #malaysiafoodandtravel #mft #MakanLokal ♬ OMG – NewJeans

Share your thoughts with us via TRP’s Facebook, Twitter, Instagram, or Threads.