food and beverage (F&B)

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 ...
Neo Group to consolidate & shift operations to upcoming high-tech facility at Jurong
SINGAPORE (Mar 15): Catering company Neo Group is moving from its headquarters from Enterprise Road to 30B Quality Road at Jurong, where the group intends to construct a high-tech catering hub and integrated facility spanning 300,000 sq ft and 10 storeys high.  The facility broke ground today, and is scheduled for completion in 4Q20. In a press release on Friday, Neo Group says its ...
Lifebrandz 2Q losses widen 18% to $0.6 mil on higher sales activities, business expansion
SINGAPORE (Mar 14): Lifebrandz saw its losses in 2Q widen 18% to $0.6 million from $0.5 million a year ago, mainly due to an increase in total expenses which the group attributes to higher sales activities and business expansion. Group revenue for the quarter grew 65% to $1.5 million from $0.9 million in 2Q18 on the back of higher revenue from the food and beverage (F&B) segment, out of ...
This F&B empire is a steal at current valuations, says UOB Kay Hian
SINGAPORE (Mar 8): UOB Kay Hian is initiating coverage on Koufu Group at “buy” with a target price of 95 cents, which implies a 41.8% upside to its last close of 67 cents. The move comes on UOB’s belief that the counter is deeply undervalued based on 18.1 times FY19F P/E, and pegged to a 10% discount to peers’ average. In a Friday report, analyst Yeo Hai Wei highlights Koufu as “a ...
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 ...
BreadTalk's FY18 earnings fall 29.9% to $15.2 mil in absence of TripleOne Somerset divestment gain
SINGAPORE (Feb 19): BreadTalk Group delivered earnings of $15.2 million for FY18, declining 29.9% from its earnings of $21.7 million for FY17 despite booking revenue growth for the year. This was largely due to the absence of a $9.3 million net capital gain from the divestment of BreadTalk’s partial stake in TripleOne Somerset, excluding which the group would have seen 1.1% higher core net ...
Natural Cool makes foray into F&B industry with million-dollar acquisition
SINGAPORE (Feb 19): Natural Cool Holdings, the air-conditioning and switchgear specialist, is venturing into the food and beverage (F&B) industry by acquiring the business and assets of Yummy YM and SFB Global for $0.98 million. Yummy and SFB Global are the manufacturers, distributors and retailers of cooked-food products and beverages & confections, respectively. The former company ...
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 ...
Jumbo still a wholesome 'buy' despite China business risks: CGS-CIMB
SINGAPORE (Feb 15): CGS-CIMB Research is maintaining its “add” call on Jumbo Group while lowering its target price to 52 cents from 54 cents previously to reflect 2-3% lower FY20-21F EPS on the account of weaker China operations. The latest price target is pegged to 21 times FY20F P/E versus the regional peer average of 20 times. This comes after the restaurant chain operator reported ...