Tun Dr Mahathir Mohamad has denied owning a stake in lifestyle bakery and bistro The Loaf, which ceased operations on Thursday (April 12).
He was responding to a report yesterday on the closure of The Loaf.
“I only have 200 unit shares with a tobacco company and also with PNB (Permodalan Nasional Berhad), and even that was awarded to me when I launched their products when I was the Prime Minister,” he said.
He was speaking to reporters after a ‘ceramah’ at Felda Bukit Tangga in Kedah on Friday (April 13).
The premium bakery founded by Mahathir ceased operations of its 12 outlets across the country after 12 years.
The closure was announced through a notice dated April 9 uploaded to social media and addressed to bakery’s customers.
The notice, however, did not state the reason the outlet was closing.
The management only said it was satisfied that The Loaf had achieved its primary objective of improving the quality of breads and the bakery industry in the country.
“Thank you very much for enjoying and supporting the Loaf and our breads all these long years. We are truly happy and proud of the fact that the Loaf has been able to contribute to the betterment of quality of breads and bakery industry in Malaysia,” the notice read.
Many media reports over the years had identified Mahathir as one of the owners of The Loaf, via a joint venture company that runs the upmarket bakery.
The Loaf opened its first outlet in Telaga Harbor, Langkawi in 2006 with an investment of RM3 million.
It then expanded to 12 outlets, including in KLCC, Pavilion and Sogo shopping mall in Kuala Lumpur, as well as Empire Shopping Gallery in Subang Jaya.
Earlier report: Apr 13, Mahathir’s The Loaf Bakery Closes After 12 Years