Expansion of Milkshake & Smoothies Bar
0Days to go
Target DateCampaign End Method
Thirst Company ( THIRST ) is looking to obtain capital for expanding its latest milkshake & smoothies bar kiosk at a premium location in Kuching, Sarawak.
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 THIRST‘s 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.”
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.
- 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|
|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.
INCOME STATEMENT (RM) (‘000)
|Net profit / (loss) after tax||21||4|
BALANCE SHEET (RM) (‘000)
As at 31 Dec, ‘18
As at 31 Dec, ‘17
Total equity & liabilities
Note: the financial summary is based on information provided by the Issuer
SHAREHOLDERS, DIRECTORS AND KEY MEMBERS
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