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Jumbo in JV to bring HK-style 'cha chaan teng' to Singapore

Samantha Chiew Published on Fri, Mar 09, 2018 / 6:47 PM GMT+8

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SINGAPORE (Mar 9): Jumbo Group is partnering Kang Wang Holdings to start and operate the Tsui Wah brand of "cha chaan tengs" in Singapore.

Under the JV signed between wholly-owned subsidiary Jumbo F&B Services (JFB) and Kang Wang, a subsidiary called Vista F&B was set up to establish the restaurants, whose main activities include restaurant management and operation as well as investment holding.

JFP and Kang Wah will subscribe about 245,000 and 255,000 new shares in Vista F&B respectively at 1 cent each. Thus, JFB will own 49% of Vista F&B, while Kang Wah will own the remaining 51%.