QSR Brands Bhd, which took over Ayamas Food Corporation Bhd's listing status, wants to become one of the best blue-chip companies and has put in motion a plan to build up its cash for good dividends to shareholders.

Acting or such a strategy, QSR, which has KFC and Pizza Hut in its stable, is targeting to sell all the properties that it owns for the fast-food outlets by the end of the year for leasebacks.

The group is also selling a food processing plant, warehouse and factory in Malaysia. It is also disposing of its properties in Singapore.

"Basically, we do not want to hold an assets; our ~business is to build up our cash and pay dividends to our shareholders. That is our business;' QSR managing director Datuk Johari Abdul Ghani tells FinancialDaily.

"We want to move forward as one of the best blue-chip companies with a good track record on dividend policy,” he says.

QSR group, which includes its 29%-owned associated company KFC Holdings (Malaysia) Bhd (KFCH), will have to settle some RM300 million in borrowings. Johari is also the managing director of KFCH.

KFCH owns 31 retail outlet properties out of the 340 KFC outlets and four of the 111 Pizza Hut outlet properties nationwide.

Johari says the assets identified for disposal include the RM65 million worth of retail outlet properties, a RM55 million food processing plant, a RM30 million warehouse and a RM20 million chilli sauce factory.

He says the group expects the asset re-organisation in Malaysia to generate over RM200 million. In Singapore, the group will dispose of all its 11, KFC and Pizza Hut outlets by year-end and use the proceeds towards settling its S$30 million (RM66.94 million) loans there.