KUALA LUMPUR: Magma Group Bhd

, via its wholly-owned subsidiary Magma Chain Management Sdn Bhd (MCM), is setting up a joint venture company (JVC) with beverage retailer Chagee (M) Sdn Bhd to operate and grow the Chagee business in Malaysia.

In a statement, the hospitality group said the JVC, Chagee Magma Sdn Bhd, will be the primary vehicle for developing branded retail outlets and other commercial initiatives within the premium tea and beverage segment.