SINGAPORE (June 27): Seafood restaurant chain operator No Signboard Holdings is planning to enter the fast food business with the launch of its new brand, Hawker, via its wholly-owned subsidiary Hawker QSR.

In a Wednesday filing, the group says it plans to establish its first Hawker-branded outlet by end-2018, and have at least three outlets by early 2019 to target consumers in the central, east and west regions of Singapore.

The new Hawker fast food business venture is estimated to require setup costs of approximately $0.5 million per outlet, which will be initially funded by 20% from the IPO proceeds and 80% through bank loans.

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