The bakery was a venture between Mahathir and a company with Japanese interests, Motoko Resources Sdn Bhd, with Mahathir owning a 51% stake. It closed down in April 2018 after 12 years in business.
Ekovest Group under executive chairman Lim Kang Hoo has decided to revive the brand through its wholly-owned subsidiary Duke Dining Sdn Bhd, which has bought over The Loaf’s entire interest.
Its CEO, Gopalan Menon, told FMT that the purchase was part of the group’s foray into the food and beverage (F&B) sector.
“We also own a one Michelin star restaurant known as Xin Dau Jin in Eko Cheras Mall, and are planning to acquire more F&B assets,” he said.
He said plans are in the pipeline to open 10 Loaf outlets by the end of the year.
Ekovest has revived four outlets so far in Langkawi, Pavilion, Sunway Pyramid and NuSentral.
The first outlet to be revived was at the Telaga Harbour Marina in Langkawi.
The bakery had originally opened in 12 locations, including KLCC, Pavilion and NuSentral in Kuala Lumpur, and Empire Shopping Gallery in Subang Jaya.
Mahathir, who was often seen dining at some of the outlets, was reported as saying that the entity was a loss-making concern, and that he had no choice but to dispose of it.