food court

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 steal” at current valuations for a company with solid niche leadership in a potential high growth, high margin business, in his view.

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.

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