Oriental Kopi Lists in Malaysia: a 20-Store Nanyang Kopitiam Chain Raises ~RM184M

This is an English adaptation of a FoodBud historical article originally published on February 6, 2025.

For operators watching Southeast Asian café concepts, Oriental Kopi's Malaysian listing is a snapshot of a fast-rising Nanyang-style kopitiam chain pairing cafés with a packaged-food line.

The listing

Oriental Kopi Holdings Berhad listed on Bursa Malaysia's ACE Market on January 23, 2025 at MYR 0.44 per share; the stock opened at MYR 0.75 (+70.45%) on debut, for a market value of about MYR 1.73 billion (~RMB 2.8 billion). The IPO issued ~418.1 million new shares to raise ~MYR 183.96 million (~RMB 302 million), earmarked for a new HQ, central kitchen and warehouse plus a nationwide store rollout. Founded in December 2020, the company runs Nanyang-flavor cafés.

Footprint and growth plan

As of January 2025: 19 company-operated cafés in Malaysia plus one JV café in Singapore (with Paradise Group). Store sizes range 225–621 sqm across malls, street and airport sites. The plan is 14 new Malaysian cafés in 2024–2026 (10 in 2025, 3 in 2026) plus two more in Singapore; a ~108,448 sq ft (≈10,000 sqm) three-floor HQ/central-kitchen/warehouse in Selangor is intended to centralize food prep, cut per-store kitchen cost and standardize quality.

Economics and model

• Revenue scaled fast: MYR 5.02M (FY2021) → 48.64M (FY2022) → 133.01M (FY2023) → 277.28M (FY2024). Cafés are 90%+ of revenue; packaged food (coffee, tea, instant noodles, mooncakes, etc.) rose to ~4.16% in FY2024 and is sold via cafés, Shopee/Lazada and retail.
• Supply chain is local-led: 93.91–99.64% of purchases from Malaysian suppliers (controlling logistics cost and disruption risk), with packaging sourced partly from China; top-5 supplier concentration ~30–42% and supplier relationships of 1–3 years, deliberately avoiding single-supplier dependence. A central kitchen handles pre-baked items (egg-tart shells, bolo buns) and sauces.
• Workforce 921 (84.9% in retail operations), with ~28% foreign contract staff — a labor-mix dependency to watch.

Market context

Oriental Kopi holds under 1% of Malaysia's ~MYR 79.4 billion foodservice market and under 1% of the ~MYR 1 billion branded packaged-food market — small against Berjaya Starbucks (FY2023 revenue MYR ~1,009M), OldTown (MYR ~583M) and Coffee Bean Malaysia (MYR ~292M). Overseas, it is testing Singapore (JV) and Hong Kong (packaged-food export via a distributor signed Feb 2024). IPO use-of-proceeds, store targets and forward plans are historical (early 2025).