Rhine River

Rhine River has been a leader in Kuala Lumpur’s dining scene since 2005, pioneering experiential dining with concepts that offer exceptional service and culinary excellence. Our portfolio includes 7 distinct concepts across 9 locations in KL City and TTDI, catering to averagely 12000 monthly customers and generating RM 24.5+ million in revenue for 2024.
With Visit Malaysia Year 2026 approaching and an increasing appetite for unique dining experiences, Rhine River (Werner’s Group) is primed for growth. 
The diversity of our restaurant concepts drives resilience, allowing us to cater to a broad spectrum of tastes and occasions while ensuring sustained growth and adaptability in an ever-changing market.
We look at fuelling our next phase of growth through an Equity Crowd Funding campaign.

Seize the chance to participate in our exclusive ECF crowdfunding campaign, offering high potential returns and investor-friendly terms:

Redemption Price:
Investors will received 14% annual return on the Subscription Price for the first 2 years 
Investors will received 12% annual return between year 2 - 3 

Investors will receive 10% annual return after the 3rd year onwards

If Rhine River wants to buy back share earlier than 2 years, you will enjoy a fixed 28% return, regardless of holding period.

IMPORTANT:

Retail investors can only support the campaign with RM3,000 to a maximum or RM10,000 ( RM 9,984 equivalent to 416 shares). Retail investors cannot invest more or less. Accredited, HNWIs and sophisticated investors can choose to support the campaign with a higher amount. Please refer to the "Who can invest through an ECF platform" via https://alixco.com/faq/ecf_investor . A Nominee Structure will be chosen for all contributions to this campaign. Please read the entire investment term sheet.

Rhine River has forecasted robust financial growth, with revenue projected to grow from RM 24.7 million in 2024 to RM 37.2 million by 2026, supported by EBITDA improvements from 7.3% in 2024 to 14% by 2026. Investors can expect attractive returns as the company expands its portfolio and optimizes operations.

Investment Type: Redeemable Convertible Preference Shares Class A (RCPS-A) 

Returns and Redemption

• Redemption Price:
  • First 24 months: 14% annual return on Subscription Price
  • 24–36 months: 12% annual return
  • Post-36 months: 10% annual return
• Early Redemption: Fixed 28% return irrespective of holding period
• Liquidation Preference: 1x Subscription Price + 28% return before ordinary shareholders

Key Rights

• Conversion: One RCPS-A converts to one ordinary share upon a qualified event (e.g., IPO or trade sale).
• Voting: Full voting rights for RCPS-A holders.
• Dividend: Preferential dividend payout over ordinary shareholders.
• Exit Events: Drag-along rights and tag-along protections included.

Fees

• Nominee Holding Fee: 10% of distributable returns (dividends or sale proceeds).

THE SUMMARY OF TERMS ABOVE IS FOR INFORMATION CONVENIENCE PURPOSES ONLY AND DOES NOT REPLACE CAREFULLY READING THE INVESTMENT OVERVIEW SHEET. PLEASE CAREFULLY READ THE INVESTMENT OVERVIEW SHEET PROVIDED IN THE DOWNLOAD SECTION OF THIS PITCH BEFORE MAKING ANY INVESTMENTS. 

1. Dining Privileges:
   Platinum Tier Membership with RM 300 credit and lifetime 12% cashback at Werner’s Group outlets.
2. Exclusive Experiences:
   • RM 10,000+ Investment: Whisky Tasting Event by a Certified Whisky Ambassador.
   • RM 20,000+ Investment: Private dining experience curated by top chefs.
3. Engagement Opportunities:
   Investors contributing RM 25,000+ can co-create a signature dish featured on menus.

El Cerdo KL (Est 2005) 10 Best Restaurants in KL by KL Foodie 2017, Best Tapas Restaurants in KL and Selangor 2024 and many more over the years

El Cerdo TTDI (Est 2022), Winner of Best Commercial Hospitality Design, Platinum Award 2022 by Atap

The Whisky Bar KL (Est 2010) Malaysia’s 30 Best Bars 2022, largest Whisky Selection in Malaysia with close to 1000 labels

The Steakhouse KL (Est 2010) KL’s 10 Best Steakhouses 2024 for the Finest Cuts by trustedmalaysia.com

Director's Cut Whisky Lounge & Steakhouse (Est 2023) BEST COMMERCIAL HOSPITALITY DESIGN SILVER AWARD 2023

Prime Steaks & Artisan Pasta (Est 2023) Best Steakhouses 2023 by The Yum List

Dining in the Dark KL (Est 2012) Winner of Tripadvisor’s Traveller Choice Awards, Best Romantic and affordable Dining Restaurants 2024 by KLOOK

Cielo Rooftop Dining & Lounge (Est 2018) No 1 Rooftop Restaurant in Malaysia 2024 – by therooftopguide.com, Tripadvisor’s Traveller’s Choice Award

TOKIOTONIC (Est July 2024)

Please download the  Investment Overview Sheet Rhine River Sdn Bhd   and Capitalization Table Rhine River Sdn Bhd  for further information and carefully review whether you are ok with the terms of the documents before making any investments! 

Explosive Growth and Market Leadership

• Proven Success: Revenue increased 2.3 times from RM 11.7 million in 2022 to RM 27.2 million in 2023.
• Market Leader: Werner’s Group operates KL’s top-rated restaurants, including:
  • El Cerdo KL: Ranked among KL’s Best Tapas Restaurants in 2024.
  • Dining in the Dark KL: Winner of Tripadvisor’s Traveler Choice Awards.
  • Cielo Rooftop Dining: No. 1 Rooftop Restaurant in Malaysia in 2024.
• Strategic Locations: Prime positioning in urban areas drives competitive advantages and high customer retention.

Werner’s Group leads KL’s dining scene with a unique mix of premium and casual concepts, which affords us a more risk resilient positioning.

Our USP lies in creating diverse, high-quality experiences, supported by strong brand equity and prime locations catering to different market segments.

As pioneers in experiential dining, we continue to push boundaries with innovative concepts such as R&D of a sustainable Beverage program development with our in-house Chemist, furthering our relationships with local suppliers, exceptional customer service, and a commitment to culinary excellence.

With Visit Malaysia Year 2026 approaching and increasing demand for experiential dining, Werner’s Group offers a compelling investment in a resilient growth sector.

Business Growth Strategy

1. Expansion of Flagship Brands:
   Launching 10 new El Cerdo outlets within 5 years, targeting RM 50 million incremental revenue by 2029.
2. Franchise Blueprint Development:
   Focus on domestic and international expansion to countries like Vietnam.
3. Digital Transformation:
   Enhancing CRM and loyalty systems to improve customer experience.
4. Sustainability Initiatives:
   Aligning with market demand for ethical dining practices.

Our flagship El Cerdo Restaurant, specializing in Spanish & German cuisine, is set to expand with 10 new locations within 5 years, initially within Malaysia, followed by international markets like Vietnam.

For the international expansion we envision traditional and/or Multi-Unit Franchises.

Projected financials: RM 5 mil annual revenue per El Cerdo location, adding RM 50 mil to our existing business by 2029 for a total of RM 100 mil at a conservatively forecasted EBITDA of 16%.

The strength of Rhine River lies in the active involvement of the Owners, supported by a dedicated senior personnel team. We believe our resilient business model promises continued growth and attractive returns for investors.

These initiatives will position Werner’s Group for sustainable growth and market leadership.

Fund Distribution:

Digital Transformation (50%):

Invest in further developing cutting-edge CRM platform for personalized customer engagement, enhancing the efficiency and reach of our Reservation and Loyalty Program Management software.

Franchise Blueprint Development (20%):

Lay the foundation for the geographical expansion of the El Cerdo brand for 2025 to 2029, including market research, franchise agreements, and operational setup.

Brand Building (15%):

Launch impactful social and digital campaigns to strengthen market presence, foster customer loyalty, and attract a growing audience.

Sustainability Initiatives (15%):

Further developing eco-conscious practices, such as sustainable sourcing & waste reduction systems, to align with market demand for ethical dining experiences and boost brand reputation.

Target market: 

Our target demographics include:

1. Affluent Families: Seeking high-quality, memorable dining experiences.
2. Young Professionals: Drawn to unique concepts and elevated ambiance.
3. Tourists: A steadily growing segment due to Malaysia’s rising popularity.

The experiential dining sector is set to expand, driven by Malaysia’s rising disposable incomes and increased tourist activity, positioning Werner’s Group as a leader in this thriving market.

Future Outlook

Rhine River’s strategy to optimize costs, enhance customer experiences, and expand its brand presence positions it for sustained growth. With projected revenue reaching RM 37.2 million by 2026, investors are presented with a compelling opportunity to be part of Malaysia’s evolving F&B industry.

As we are entering a pivotal period in our growth trajectory, we are actively exploring partnerships with potential investors to unlock our full potential and secure the working capital necessary to facilitate our plans.

Key assumptions driving forecasts:

• Expansion of Flagship Brand El Cerdo with 6 New Locations by End of 2026
  
  
• Further Revenue Growth due to improved offerings and rising demand for experiential dining, improved Market Outreach/ Marketing Measures
  
  
• Margin Improvements due to optimized cost structures
  
  

To optimize operations, we've engaged Deloitte Malaysia for backend administrative outsourcing.

While maintaining an average check of RM 250 per person across our outlet portfolio, we forecast a revenue of RM 37.2 mil by the End of CY 2026 , with organic growth to RM 50 mil by 2029, securing an EBITDA of 14 - 15%.

Join us in reshaping KL’s dining scene and creating extraordinary culinary experiences!

Werner Kuhn – Chef Proprietor

The leadership team is led by Werner Kuhn, German national and industry visionary with decades of culinary expertise, having pioneered the growing F&B scene of Malaysia since 1987 involved in various projects, from large scale catering operations, to closed market franchise set ups in the past.

Andreas König – Managing Director

A University of Brighton graduate with a BA (Hons) in Tourism Management, Andreas has been an integral part of Werner’s Group since its inception. As the only other shareholder alongside Werner, who holds 70% of the business, Andreas owns the remaining 30%, reflecting his contribution to the company’s growth and vision. Over a 19-year career, Andreas has risen from Outlet Manager to Managing Director, gaining an in-depth, hands-on understanding of the business. This journey uniquely positions him as the ideal partner to preserve legacy while driving the Group’s future growth and success.

Aizzar Mansor – Group Operation Manager

Aizzar, has successfully graduated from the Swiss Hotel Management School, Montreux Suisse (SHMS). Prior to joining Werner’s Group he developed his operational expertise as Hotel Front Office Supervisor and as Outlet Operation Manager in various reputable Establishments such as Kampachi, Singapore’s Mountbatten Room and others, ensuring operational excellence.

Jagan – Group Executive Chef

With 14 years of unwavering dedication to Werner’s Group, Jagan is a cornerstone of our culinary excellence. Bringing a strong background in Western-style cooking, shaped by his experience at one of Kuala Lumpur’s first Swiss restaurants, Jagan ensures the highest standards at El Cerdo and Director’s Cut. His meticulous oversight of quality assurance and consistency have earned him a reputation as a trusted leader in our kitchens, consistently delivering exceptional dining experiences.

Harry – Chef de Cuisine, Menu Development & R&D

Helming the kitchen at Cielo, Chef Harry is a rising star known for his creativity, meticulous attention to detail, and self-taught mastery of classic cuisine. His talent extends beyond the kitchen, having executed canape services for luxury brands like Prada. Now leading menu development and R&D at Werner’s Group, Harry continually pushes culinary boundaries, crafting innovative dishes that captivate diners and set new trends. His passion and forward-thinking approach make him an invaluable asset to the team and a key driver of our culinary evolution.

Yip Phui Khei – Head of Finance and HR

With extensive experience in accounting and finance, Miss Yip brings exceptional expertise to Werner’s Group. She has managed complex financial operations, including budgeting at YTL Communications and overseeing treasury functions at Deloitte SEA. Her prior roles involved implementing SOPs, managing full sets of accounts, and collaborating with top management on financial strategy and performance reviews. Miss Yip’s strategic insights and leadership ensure Werner’s Group’s financial stability and operational efficiency, making her an integral part of the team.

Myra Rahim – Head of Marketing

Young, dynamic, and tech-savvy, Miss Myra Rahim leads Werner’s Group’s marketing efforts with a focus on digital platforms, loyalty programs, and reservation systems. Prior to joining us, she honed her skills as a Marketing Executive at Serai Group and a Multimedia Designer at Melium Group. Myra’s expertise in social and digital platforms positions her to effectively connect with modern audiences and elevate Werner’s Group’s brand presence. Her innovative approach ensures we stay ahead in a competitive and rapidly evolving market.

Together, they are backed by a skilled workforce of 135 employees.

We believe in rewarding those who join us on our journey. In addition to financial returns, our investors will enjoy exclusive perks that enhance their connection to our brand and make them part of our story.

Dining Privileges:

Platinum Tier Membership Signup and immediate Rewards:

All investors will be automatically enrolled in our loyalty rewards program PLATINUM TIER, starting with a RM 300 credit threshold to use at any Werner’s Group outlet and enjoying a 12% cashback on bills across all Werner’s Group Outlets, for life. This ensures investors’ meals are even more rewarding

Priority Reservations:

Investors receive priority booking access during peak times, guaranteeing a seamless dining experience, even on the busiest occasions.

Exclusive Experiences:

Special Edition Whisky Tasting:

Investors contributing RM 10,000 or more will enjoy a whisky tasting event led by Andy Tee, our Certified Whisky Ambassador, featuring a curated selection of premium whiskies.

Customized Dining Experience:

Investors contributing RM 20,000 or more are invited to a private dining experience in year one, curated by our top chef team, featuring a tailored menu designed to showcase our best creations.

Engagement and Legacy Opportunities:

Menu Collaboration Opportunity:

High-tier investors contributing RM 25,000 or more can collaborate on the creation of a signature dish or drink, which will be featured on our menu with your name credited.

Management Accounts (Calendar Year Reporting):

• Calendar year figures (CY 2022 & CY 2023) represent management accounts aligned to January–December operations.
  
  
• The rationale for presenting Calendar Year data:
  
  
• Seasonal Performance: Calendar year better captures key sales peaks (e.g., festive seasons, tourism inflows).
  
  
• Positive trends in Calendar Year 2022 and Calendar Year 2023 show recovery post-pandemic:
  
  
• CY 2022: Revenue grew to RM23.9M with profit at RM2.4M (10.02%).
  
  
• CY 2023: Revenue improved further to RM27.0M, though profit moderated at RM2.14M (7.94%) due to inflation and workforce rebuilding.

Forecasted Improvements (2025–2026):

As we are entering a pivotal period in our growth trajectory, we are actively exploring partnerships with potential investors to unlock our full potential and secure the working capital necessary to facilitate our plans.

Key assumptions driving forecasts:

• Expansion of Flagship Brand El Cerdo with 6 New Locations by End of 2026
  
  
• Further Revenue Growth due to improved offerings and rising demand for experiential dining, improved Market Outreach/ Marketing Measures
  
  
• Margin Improvements due to optimized cost structures
  
  

To optimize operations, we've engaged Deloitte Malaysia for backend administrative outsourcing.

While maintaining an average check of RM 250 per person across our outlet portfolio, we forecast a revenue of RM 37.2 mil by the End of CY 2026 , with organic growth to RM 50 mil by 2029, securing an EBITDA of 14 - 15%.

Important Notice

Please be advised as follows:

(a)  No shares will be allotted or issued based on this document after six months from the closing of the offer period.   

(b) This document has not been reviewed by the Securities Commission Malaysia. The Securities Commission Malaysia does not recommend nor assume responsibility for any information including any statement, opinion or report disclosed in relation to this fundraising exercise and makes no representation as to its accuracy or completeness. The Securities Commission Malaysia expressly disclaims any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the information disclosed.

(c) This issue, offer or invitation for the offering is a proposal not requiring authorisation of the Securities Commission Malaysia under section 212(8) of the CMSA 2007.

• Alixco, along with its management and team, may participate in this crowdfunding campaign as investors.

• We would like to inform you about your cooling-off period rights: ECF investors are given a six business days cooling-off period, within which they may
  withdraw the full amount of their investment. If you wish to do so, you may do this via your user account or by contacting us via email within that period. 

• Rhine River Sdn Bhd has raised 43 P2P investment campaigns with Alixco P2P which scheduled upcoming repayments of approx. RM 2,1 million. 
• Rhine River Sdn Bhd plans to raise one or more P2P investment campaigns at the same time as this ECF campaign 

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