No Signboard buys remaining 20% stake in Danish Breweries; signs franchise deal with Little Sheep hotpot

No Signboard buys remaining 20% stake in Danish Breweries; signs franchise deal with Little Sheep hotpot

By: 
PC Lee
18/06/18, 08:18 pm

SINGAPORE (June 18): F&B group No Signboard has acquired the remaining 20% stake in Danish Breweries as well as signed a franchise agreement to develop and operate Little Sheep restaurants in Singapore.

Danish Breweries owns its signature Draft Denmark brand as well as manufactures and distributes Draft Denmark lagers in Singapore. Established in 2014, Draft Denmark is distributed across around 300 outlets in Singapore comprising mainly pubs, coffeeshops and clubs. Draft Denmark sells 80,000 barrels or 2.4 million litres of lager annually in Singapore.

No Signboard subsidiary, Tao Brewery, entered into the sale and purchase agreement with Samuel Chen Shangming to acquire the remaining stake in Danish Breweries for a consideration of $400,000. Chen is an executive under No Signboard’s beer business.

The acquisition will be funded by the group’s IPO proceeds and is expected to be completed on Tuesday.

In a separate announcement, No Signboard has also entered into a franchise agreement to develop and operate Little Sheep restaurants in Singapore.

Yoma's 4Q earnings fall 86% to $3.5 mil; in JV with Little Sheep to open hot pot restaurants in Myanmar

Little Sheep is a well-known hot pot restaurant in China. Established in 1999 in Inner Mongolia, Little Sheep has over 280 outlets across China and the international markets including the United States, Canada and Japan, as of end Dec 2017. Of these 280 outlets, 270 of them are franchised.

The agreement will commence from June 18 for a period of 10 years. Under the terms of the agreement, No Signboard plans to launch one restaurant per year under the Little Sheep brand name and concept in Singapore in the first five years.

Shares in No Signboard closed at 15 cents on Monday.

UnUsUaL reports 32% higher FY19 earnings of $13.2 mil on improved revenue & margins

SINGAPORE (May 27): UnUsUaL Limited has reported $13.2 million in net profit for the FY19 ended March, representing a 32% increase from FY18 net profit of $10 million due to higher revenue and improved margins. Revenue for the full year rose 22.6% to $56.9 million compared to $46.4 million a year ago. The topline growth was mainly attributed to higher revenue contributions from the company’s Promotion and Others segments. In line with the higher revenue, gross profit grew by $5.1 million to $23 million for the full year, while operating expenses increased 16.6% to $6.9 million. G....
Read More >>

Bukit Sembawang sinks into the red with 4Q losses of $11.6 mil on one-off impairment, allowance

SINGAPORE (May 27): Bukit Sembawang Estates sank into the red with losses of $11.6 million for the 4Q18/19 ended March, compared to earnings of $22.0 million a year ago. This represented losses per share of 4.46 cents for 4Q18/19, compared to earnings per share of 8.48 cents in 4Q17/18. This was mainly attributable to a surge in other operating expenses to $22.0 million during the current quarter, from $1.5 million a year ago. The increase was mainly due to impairment loss of $9.7 million on property, plant and equipment relating to Fraser Residence Orchard, Singapore, and allowance o....
Read More >>

CapitaLand Mall Trust upgraded to 'buy' by UOB on Jurong Lake District plans, Funan launch

SINGAPORE (May 27): CapitaLand Mall Trust will benefit from the development of Jurong Lake District (JLD) as it has three retail malls located within Jurong Gateway, says UOB KayHian. See: CapitaLand Mall Trust declares 3.6% higher DPU of 2.88 cents on higher income IMM Building, JCube and Westgate, which in total accounts for 20% of CMT’s portfolio valuation, are located within Jurong Gateway and adjacent to Jurong East MRT station. Meanwhile, Funan, which is about 90% pre-committed for retail space and 98% pre-committed for office space, is scheduled to open next month. See als....
Read More >>