coffee shop

NTUC Enterprise to acquire Kopitiam by year-end

SINGAPORE (Sept 23): NTUC Enterprise has announced that it will be acquiring local food court operator Kopitiam Investment along with its subsidiaries by end-2018.

Under the agreement, NTUC will also be acquiring all 80 of Kopitiam’s outlets in Singapore, including the Lau Pa Sat Festival Market, which Kopitiam acquired in 1995.

F&B operator Koufu lodges preliminary prospectus for IPO on SGX Mainboard

SINGAPORE (June 28): Koufu Group, the operator and manager of food and beverage (F&B) establishments in Singapore with a presence in Macau, has lodged its preliminary prospectus with the Monetary Authority of Singapore (MAS) for a Mainboard listing on the SGX.

In its preliminary prospectus lodged on Thursday by issue manager DBS Bank, Koufu's controlling shareholder Jun Yuan Holdings will be making an offering of shares in its proposed initial public offering (IPO), although its details have yet to be determined.

Kimly 1Q earnings fall 13.9% to $5.7 mil on higher expenses

SINGAPORE (Feb 9): Kimly, the traditional coffee shop operator, has announced earnings of $5.7 million for 1Q18, down 13.9% from $6.7 million reported a year ago on higher expenses.

Revenue for the quarter grew 6.8% to $50.1 million, due mainly to higher revenue contribution from the Outlet Management Division with higher sales of beverages and tobacco products, as well as higher income from sub-leasing of coffee shops and food courts and related cleaning and utilities services provided.

Kimly reports 20% decline in 3Q earnings to $5.2 mil on higher expenses

SINGAPORE (Aug 7): Kimly, Singapore’s largest traditional coffee shop operator, posted earnings of $5.2 million for the 3Q17 ended June, down 20% from its $6.5 million in earnings for 3Q16 due to higher expenses. 

Revenue for the quarter grew 8.5% to $47.9 million, boosted mainly by higher sales generated from cooked food and beverages, an increase in rental income, as well as income from provision of cleaning and utilities services.

Kimly units to acquire coffeeshop, industrial canteen assets for total $1.5 mil

SINGAPORE (June 14): Coffeeshop operator Kimly Group announced Wednesday that two of its subsidiaries have entered into separate agreements for acquisitions of a coffeeshop and an industrial canteen for a total of $1.5 million.

First, indirect wholly-owned subsidiary Yong Yun has entered into a business transfer agreement with Tan Chong Sing for the operation and management of a coffee shop located at Blk 631 Bedok Reservoir Road for $850,001.

This includes the acquisition of its lease, and the sub-leases of the food stalls within the coffee shop.

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