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There has to be a main Franchise holder in Malaysia and its usually a Malaysian company.  Franchises are extraordinarily expensive in Malaysia and foreigners are just seen as investors so rarely possible to get EP. Inadvisable to enter Malaysia during Student Pass process and to enter on VDR (single entry visa) at appropriate time. It could mean the SP cannot be endorsed. You take that risk if you enter.

Tq very much Gravitas ,But my frnd in India running a cafe and he is willing to give the franchise for RM 30000 ..... So what is the procedure to be carried out

That's not a franchise, it's a partnership. The restaurant needs to have a paid up capital of RM350,000 for a foreigner to be involved. It's called a Joint Venture.

Fine clear now tq Gravitas ....

But I am alrdy having multiple entry visa still it's valid ....my profile appears in emgs too..... But the remarks showing that VAL pending .... If it is possible to enter Malaysia with the multiple entry visa while my VAL is pending ,is there any risk at Immigration? Pls advice Gravitas

Ask EMGS - they have an online service. The whole point is the rule about Student Visas is don't enter while approval process is going on (not whether you can use another visa you hold)

Thanks very much Gravitas