Restaurants

Singapore’s historic Raffles Hotel reopens after two-year restoration

(Aug 1): An icon of Singapore’s history has been restored and is now open again.

The Raffles Hotel, which first opened in 1887 and was declared a National Monument by the government a century later, reopened today after an extensive renovation that started two and a half years ago, according to a statement from the hotel.

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.

BreadTalk reports 52.4% higher earnings of $1.7 mil on higher revenue

Singapore (May 7): BreadTalk Group has announce earnings of $1.7 million for 1Q19, up 52.4% from $1.1 million in earnings a year ago on higher revenue.

Revenue for the quarter rose 6.1% to $157.6 million from $148.5 million a year ago, led by growth across all business divisions. The group attributes this to its continual focus on improving the quality of its products as well as the overall efficiencies in the central kitchen and procurement efforts.

Fresh start

SINGAPORE (Jan 14): From menu revamps and relocations to novel dining concepts, these seasoned chefs are turning the page to a new chapter.

Returning with a bang

Jumbo opens first Singapore mall-based restaurant outlet at ION Orchard

SINGAPORE (Dec 12): Jumbo Group today opened its sixth Jumbo Seafood outlet in ION Orchard, Singapore, bringing its total number of Jumbo Seafood branded restaurants across Asia to 17.

The new restaurant spans over 5,400 sq ft, including four VIP rooms, and seats 160 in total. It marks the group’ first Jumbo Seafood outlet in Singapore over the past 10 years, and is also the first outlet to be located at a shopping mall in Singapore.

Japan Foods' proposed JV is good news, but industry headwinds persist: RHB

SINGAPORE (Dec 10): RHB Research is maintaining “neutral” on Japan Foods with a target price of 48 cents, post the announcement of the group’s 50:50 joint venture (JV) with Minor Singapore.

To recap, Japan Foods recently signed a memorandum of understanding with Minor which will enable the former to bring Minor’s Thai restaurants to Japan, while the latter expands Japan Foods’ Japanese restaurant brands in Thailand and China.

BreadTalk seen less appetising after a weak 3Q; RHB slashes earnings estimates

SINGAPORE (Nov 7): RHB Research is maintaining its “sell” call on BreadTalk Group with a lower target price of 75 cents from $1 previously, after cutting FY18-20 forward earnings estimates by about 30% per annum to factor in the gestation of new businesses as well as higher interest costs.

The research house has also lowered its target EV/EBITDA for BreadTalk’s core business to 5.5 times from 7 times previously in its sum-of-parts valuation to account for a slower growth in EBITDA.

Seafood treat

SINGAPORE (Oct 8): Eighteen years ago, as university students in Australia, Melvin Yeo and Elaine Lim (main image, right) had an unforgettable experience at Claypots St Kilda. The seafood bar, founded by Turkish-born Australian Renan Goksin, was the first of what is today a popular restaurant chain Down Under. Now, Yeo and Lim are attempting to recreate that experience in the central business district of Singapore.

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Vatos Urban Tacos chef-owner Sid Kim brings new dishes exclusive to Singapore outlet

SINGAPORE (Oct 2): The Singapore outlet of Korean-Mexican fusion restaurant chain, Vatos Urban Tacos, recently underwent menu revamp from chef and co-founder Sid Kim; one that added an entirely new lineup of novel creations to the already-extensive list of the brand’s classic favourites.

Kim’s innovative spirit in KoMex cooking shines through in new starters like Chicken Mole Enchiladas ($16++, main image), featuring a combination of mole – Mexico’s national sauce – and Korean gojuchang or fermented chilli paste poured over shredded chicken and cheese enchiladas.

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Katrina posts 97% lower 1H earnings on higher costs and outlet closures, says approaching 'critical mass'

SINGAPORE (Aug 14): Katrina Group announced earnings of $11,000 for the 1H ended June, down 96.7% from $0.3 million in 1H17 earnings a year ago due to higher costs and the closure of non-performing outlets .

Revenue for 1H18 increased by 11.2% to $30.8 million as the group increased its overall outlet count, while its online revenue continued to grow.

Cost of sales however grew by 13.2% to $28.5 million compared to $25.1 million a year ago due to the opening of new outlets, resulting in higher utilities, rental and employee benefit costs.

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