KUALA LUMPUR, Malaysia, Oct. 30, 2024 /PRNewswire/ -- City Coin Group (CCG), Malaysia's largest self-service laundry operator, is poised to accelerate its growth following the successful completion of Project Coin Tranche 1 in July 2024, which raised RM5 million for franchise model enhancements and technology upgrades. With 750 outlets currently operating internationally—including in Turkey and across Southeast Asia in Malaysia, Thailand, and Brunei—CCG is now launching Tranche 2 investment opportunities to fuel its global growth.
Honored with Malaysia Book of Records Award for Most Laundry Franchise Outlets Overseas
"Our Project Coin initiative has been a tremendous success," said Paul Ang, Founder and CEO of City Coin Group. "The completion of Tranche 1 not only underscored our robust business model, but also validated our vision for growth with the support we received from investors. With Tranche 2, we are offering a solid investment backed by favourable RAM ratings, which assures investors of our stability and financial strength."
The funds from Tranche 2 will be used to enhance CCG's franchise model, improve its technological capabilities and expand its market presence internationally, including Vietnam, Indonesia, the Philippines and the Maldives. These regions have shown strong demand for self-service laundry solutions and offer significant growth opportunities for the CCG brand.
Investors can expect competitive returns on a two-year Islamic Investment Note with an annual profit rate of 7.65%. As part of its expansion strategy, CCG will hire additional operational and support staff to facilitate the launch of new outlets and provide extensive training for franchisees. Additionally, CCG will invest in upgrading outlets with the latest Tosei 3-in-1 washer-dryer technology and continue to develop services such as a pick-up and delivery option and a user-friendly app to improve customer engagement and streamline operations.
In June 2024, CCG was granted an R4 rating by RAM Rating, reflecting a strong balance of adequate security and high returns for investors. Moreover, CCG has been recognised as the Best Franchisor in Asia Pacific and has been included in the Malaysia Book of Records for having the most self-service laundromats, highlighting its commitment to excellence and innovation in the industry.
"The favourable RAM rating confirms our financial credibility, and the success of Tranche 1 gives us confidence for Tranche 2. With the growing demand for cashless and sustainable laundry solutions, the timing is ideal for international expansion. Project Coin Tranche 2 will be instrumental in replicating our success in new markets," said Ang.
Upon completion of Tranche 2, Project Coin will continue with Tranches 3 and 4, targeting a total investment of RM20 million.
To register and invest in BR Capital's Project Coin Tranche 2, please visit https://brcportal.bursamalaysia.com/login and to explore potential business partnerships, connect through Laundrybar's official Linktree: https://linktr.ee/laundrybarsocialmedia .
About City Coin Group
Launched in 2013, City Coin Group (CCG) is Malaysia's first and largest self-service laundromat operator with more than 750 outlets across Southeast Asia, including Turkey. CCG has disrupted traditional business models through innovative marketing strategies to deliver fast and efficient services. The group offers comprehensive solutions, including the largest self-service laundry franchisor in Malaysia (Laundrybar), suppliers of high-quality laundry machines and spare parts (CC Laundry Solutions), manufacturers of proprietary formulated laundry chemicals (City Coin Chem), operators of self-service laundry and data analysis centres (City Coin Technology) and providers of cashless payment solutions for laundromats (PayNWash). With over a decade of experience, CCG has won numerous awards, reinforcing its industry leadership, and aims to improve the socio-economic status of communities in Malaysia and beyond through its Corporate Social Responsibility (CSR) initiatives.