In a bid to address the ongoing boycott of Starbucks Malaysia, Tan Sri Vincent Tan Chee Yioun, founder and advisor for Berjaya Corporation Bhd, made a compelling appeal to fellow Malaysians, urging them to reconsider their stance.
Tan stressed that the boycott, far from achieving its intended goals, is only serving to harm Malaysians and the local economy.
During a media briefing held recently, Tan expressed his concerns, stating, “I think all those who are boycotting Starbucks Malaysia should know that it is a Malaysia-owned company. We don’t even have one foreigner working in the head office. In the stores, 80-85 per cent of employees are Muslims. This boycott doesn’t benefit anyone.”
Tan underscored the fact that the boycott has had some adverse effects on the company, impacting its sales, reported NST.
However, he noted a positive shift in the tide, with signs of improvement already emerging. He expects the third quarter of the financial year 2024 to reflect this progress.
Berjaya Food Bhd, the parent company of Starbucks Malaysia, reported a significant quarter-on-quarter drop in revenue for the second quarter of FY24, along with a notable loss after tax and minority interest.
Tan acknowledged the impact but reassured stakeholders that the situation is gradually improving.
“It has some impact on us, but now at least it is improving, and like I said, it’s all Malaysian-owned, it’s run by Malaysians. It’s just a franchise; it’s not owned by an American,” Tan elaborated.
