KUALA LUMPUR: QSR Brands (M) Holdings Bhd, the operator of KFC and Pizza Hut restaurants, has signed a memorandum of agreement (MoA) with fuel conversion company FatHopes Energy Sdn Bhd to deploy sustainable practices and eco-friendliness in its operations by processing cooking oil waste into biofuel.The initiative is an effort in driving change towards social and environmental well-being while generating a consistent sustainable stream of biofuels originating from Malaysia.The MoA was formalised with a document exchange between QSR Brands restaurants division chief executive officer Merrill Christopher Pereyra and FatHopes Energy founder and CEO Vinesh Sinha.The exchange was witnessed by QSR Brands managing director Datuk Seri Mohamed Azahari Mohamed Kamil. Also present during the ceremony was FatHopes Energy chief operating officer Datuk Eddy Leong.
“QSR Brands is now committed to making corporate decisions that are in the best interests of the environment, while being mindful towards the operational efficiency and stakeholder value,” he said.He said the company is committed to minimising its carbon footprint whenever possible and it needed to ensure that it would achieve this in a resilient, low carbon, resource-efficient and socially inclusive manner.“This is part of our corporate social responsibility, to ensure that our used cooking oil are not consumed by Malaysians, because we do not want these oils to be sold in the black markets to the unsuspecting public,” he added.Mohamed Azahari also alluded to its Ayamas-owned wastewater treatment and recycling plant at its factory in Port Klang, which reduced its factory dependency on city water supply by almost 25% and promotes sustainable conservation of water and contributes towards the preservation of the ecosystem.
He said QSR Brands is the first KFC franchisee in the Asia-Pacific to turn waste into energy on a commercial scale and that the initiative with FatHopes Energy would be rolled out in stages, starting with the installation of the iTank systems in KFC restaurants across Malaysia and potentially in Singapore.All KFC outlets are expected to be fitted with the iTank system by the third quarter of this year.Mohamed Azahari also revealed that QSR Brands is in the final stages of discussion on the operations of its existing biodiesel refinery in Port Klang for waste-based biofuel production, which will be operated by FatHopes Energy.This is part of QSR Brand’s global agenda for decarbonisation and will make Malaysia a pioneer in waste-based biofuel production.Vinesh said collaborating with QSR is another significant milestone in the company’s journey and an exemplary initiative that should be adopted across the industry.“But we remain persistent and proactive in creating or exploring solutions that are not just economically sound but also bring about significant social and environmental benefits,” he said.
On QSR’s initial public offering (IPO) plan, Mohamed Azahari said it is on target and the IPO would proceed as scheduled.“We are finalising all documentations to be submitted to the regulators, particularly the Securities Commission.”The listing is targeted for the first half of this year.
Read more at https://www.thestar.com.my/business/business-news/2019/03/04/qsr-to-turn-oil-waste-into-biofuel/#c10loZOXH4eUbPhq.99