Short Story

Thirst Company ( THIRST ) is looking to obtain capital for expanding their latest milkshake & smoothies bar kiosk at a premium location in Kuching, Sarawak.

Expansion of Milkshake & Smoothies Bar

  • RM51600

    Funding Goal
  • RM48000

    Funds Raised
  • 0

    Days to go
  • Target Date

    Campaign End Method
Raised Percent :
93.02%
This campaign has been invalid or not started yet.
Kuching, Sarawak, Malaysia

Campaign Story

SUMMARY

Thirst Company ( THIRST ) is looking to obtain capital for expanding its latest milkshake & smoothies bar kiosk at a premium location in Kuching, Sarawak.

 

BUSINESS OVERVIEW

THIRST Milkshake is the brainchild of a second-generation Kuching food entrepreneur, Izuwan Rabaie, who started selling snacks and food since the tender age of 10. His drive inspired a marine biology student in the same university, Dayang Amira, to partner with him and grow his vision for healthy and refreshing milkshakes for all Kuchingites.

Since the duo began championing this vision in 2016, they have grown their business from a small stall by the street sides of Kuching, to establishing a kiosk in the heart of the city. Whilst they have been in operations for close to two years, they are now ready to bring their business to the next level.

The light bulb moment came when they saw the huge trend of bubble tea in Kuching. THIRST need to differentiate their beverage from the typical bubble tea or similar drinks which contain a profusion of additives while serving millennials’ need for speed and convenience.

Consequently,the birth of THIRST Milkshake & Smoothies : delicious, healthy and unique beverages concocted from the exotic flavors of Sarawak. THIRST beverage is about BEING REAL

.

THIRST offers premium and healthy fruit-based milkshakes and smoothies. What is special about THIRST is that all the drinks are made only with the freshest ingredients. The secret behind the refreshing taste of THIRSTs milkshakes and smoothies is the use of fruit puree and flavored ice.

“We never use any powder in our beverages! At the same time, we offer great value to our customers as our drinks are affordably priced compared to other products in the market.”

 

THE PROJECT

Due to consistent demand, THIRST aims to further grow its market by expanding its new kiosk at The Hills Shopping Mall.

The increased presence will ensure sustainable growth for THIRST.

 

MISSION

 

KEY DIFFERENTIATION

 

RISK MITIGATION

  • Directors’ Guarantee
  • The funding amount is a small portion of the total project amount.

 

UTILIZATION OF PROCEEDS – FUNDING SUMMARY

NO.  ITEM TERMS & CONDITIONS
1. Product Name Mudharabah Financing-i (“Facility”)
2. Purpose of the Investment Total Project Funding Amount shall be utilized by the Issuer in the following purpose and manner according to shariah principle employed in relation to the Project:

(i)  Increase production & expand business

(ii) Service Fee (Wakalah Fee)

3. Project Expanding new kiosk at The Hills Shopping Mall. Purchase of Machinery & Tools
4. Investor’s Capital The target financing size is RM 51,600.00
5. Issuer (Mudharib) Thirst Company
6. Sector / Industry Food and Beverage Industry
7. Risk Grade 2.51
8. Expected Returns 15.00% p.a.
9. Investment Tenure 3 months
10. Documentation 1. Mudharabah Agreement

2. Mudharabah Wakalah Letter

3. Investor Agreement

4. Personal Guarantee by Thirst Company Director

11. Trustee Pacific Trustees Berhad

A mudharabah muqayyadah (restricted investment profit-and-loss sharing basis) contract will be signed between investor(s) and Thirst Company Investor(s) are not lending money or buying equity.

 

FINANCIAL SUMMARY

 

INCOME STATEMENT (RM) (‘000)

 

 

2018

 

 

2017

 

Sales revenue 312 138
Operating cost 156 74
Administrative cost 127 59
Net profit / (loss) after tax 21 4
 

BALANCE SHEET (RM) (‘000)

 

 

As at 31 Dec, ‘18

 

 

As at 31 Dec, ‘17

 

Current assets 28 17
Fixed assets 118 59
Total assets 147 76
Accounts payables 87 37
Retained earnings 25 4
Capital 35 35
 

Total equity & liabilities

 

147 76

Note: the financial summary is based on information provided by the Issuer

 

SHAREHOLDERS, DIRECTORS AND KEY MEMBERS

 

CONTACT INFORMATION

Name              :  Izuwan Bin Rabaie

Designation      : CEO / Director

Address           : SMA- Tegas Digital Innovation Hub,

                          B325-B329, Level 3, Block B2, Icom Square

                          93450 Kuching Sarawak Malaysia

Email               : [email protected]

Phone              : +6014 881 8013