expansion

Jumbo enjoys robust outlook with expansion strategy, but China exposure may pose a problem
SINGAPORE (May 22): CGS-CIMB Research and UOB Kay Hian are maintaining their “add” and “hold” calls on Jumbo Group with target prices of 52 cents and 41 cents, respectively, after the group’s 2Q19 results came in line with both research houses’ expectations. In a report last Wednesday, CGS-CIMB analyst Colin Tan says he expects the first Jumbo Seafood restaurant in South Korea, ...
Raffles Medical Group says not long before China forms 20-40% of overall business
SINGAPORE (April 29): Raffles Medical Group (RMG) says Raffles Hospital Chongqing saw around 500 patients over 1Q19 since it opened in January this year. The new hospital currently has between 100 and 150 beds, and the group intends to roll out more beds progressively to fill its 700 bed capacity. See: Raffles Medical Group posts 13.7% lower 1Q earnings of $13.65 mil on gestation loss from ...
Jumbo opens three new F&B outlets in Singapore
SINGAPORE (April 12): Jumbo Group has opened three new restaurants in a move to expand in Singapore, with a new Jumbo Seafood outlet at Jewel Changi Airport as well as two new concepts at Far East Square, all of which were launched today. This brings the group’s total number of food and beverage (F&B) outlets to a total of 14. The new Jumbo Seafood outlet at Jewel Changi Airport spans ...
Koufu to benefit from MBS expansion, new outlet opening a possibility: UOB
SINGAPORE (April 9): UOB Kay Hian is maintaining its “buy” call on Koufu Group with an unchanged target price of 95 cents while highlighting Koufu as a potential beneficiary from the upcoming expansion of Marina Bay Sands (MBS), where the group operates an existing food court. See: This F&B empire is a steal at current valuations, says UOB Kay Hian To recap, Las Vegas Sands ...
Grab sets sights on US$6.5 bil capital mark
SINGAPORE (April 8): Grab Holdings is expecting to rake in further US$2 billion ($2.71 billion) in funding to bring its total capital raised this year to US$6.5 billion, following its Series H round which saw SoftBank and other key strategic investors invest over US$4.5 billion in the ride-hailing app. Last month, Grab secured a US$1.46 billion investment from SoftBank Vision Fund. Both Grab ...
Hatten Land announces Australia expansion plans with Melbourne land acquisition
SINGAPORE (Mar 6): Hatten Land intends to foray into the Australian real estate market by acquiring a land parcel in Southbank, Melbourne, from Australia’s Sundale Developments for a consideration of not more than A$15.8 million ($15.25 million). The land has a planning permit to develop a multi-storey building comprising dwellings, retail premises and offices with an estimated gross floor ...
Temasek-backed Impossible Foods to contest Bill Gates' Beyond Meat in Singapore
SINGAPORE (Mar 6): Starting today, blocks of Impossible Foods Inc.’s plant-based meat will be delivered to eight restaurants in Singapore to be made into a variety of cuisine from burgers and ‘meatballs,’ to char kway teow and ‘beef’ Wellington. Headquartered in California, the Temasek-backed firm’s entrance into Singapore comes hot on the heels of its rival Beyond Meat, a Los ...
Co-living startup Hmlet forays into Australian market with Sydney expansion
SINGAPORE (Feb 26): Hmlet, a co-living rental startup based in Singapore, has announced its expansion to Australia with the March 2019 launch of two co-living properties in the inner city suburbs of Newtown and Marrickville in Sydney. This comes after the company’s recent conclusion of its US$6.5 million ($8.8 million) Series A funding round, led by Sequoia India, in Nov 2018. The first ...
Jumbo Seafood expands to South Korea with 50:50 JV; first restaurant to open by 3Q19
SINGAPORE (Feb 18): Jumbo Group is bringing its Jumbo Seafood line of seafood restaurants to South Korea via a 50:50 joint venture (JV) between its indirect wholly-owned subsidiary, Jumbo F&B Services, with TCI Inc. The first Jumbo Seafood restaurant in South Korea targeted to be operational in Seoul by 3Q19. It will mark Jumbo’s first foray into the country’s market. TCI is a ...
Singapore Medical Group subsidiary launches telehealth platform HiDoc
SINGAPORE (Jan 31): Singapore Medical Group (SMG) subsidiary HiDoc today launched its new telehealth platform, which is meant to provide first-of-its-kind telehealth and video conferencing services while giving accredited specialists access to patient health records. Image: HiDoc co-founders CTO Carolyn Goh and CEO Christina Low The platform aims to deliver medical diagnosis within 24 hours ...