Wu Pao Chun

BreadTalk launches Singapore's first Wu Pao Chun Bakery

SINGAPORE (June 17): BreadTalk announced that Wu Pao Chun has launched its first bakery in Capitol Singapore on June 14.

See: BreadTalk partners Wu Pao Chun for expansion into Singapore and Hong Kong

The 350 sqm bakery, which is named after the founder, is the result of a partnership between BreadTalk Group and Wu Pao Chun.

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.

BreadTalk partners Wu Pao Chun for expansion into Singapore and Hong Kong

SINGAPORE (Sept 10): BreadTalk Group announced that its wholly-owned subsidiary, Together Inc, has today entered into a 80:20 joint venture (JV) with Wu Pao Chun Food (WPC) to operate the Wu Pao Chun brand of Bakeries in Singapore and Hong Kong.

The first Wu Pao Chun bakery in Singapore is slated to open in Capitol Piazza in 2019.

To recap, the group’s indirect wholly-owned subsidiary, Shanghai Star Food F&B Management, has previously partnered WPC to operate the Wu Pao Chun bakeries in four major China cities – Beijing, Shanghai, Shenzhen and Guangzhou.

BreadTalk gets too pricey for RHB's taste; FY18 earnings projected to decline

SINGAPORE (Aug 3): RHB Research is downgrading its call on BreadTalk to “sell” from “neutral” with a lower target price of $1 compared to $1.04 previously, as the research house expects FY18F earnings to decline on rising overhead costs and weaker JV & associates performance.

Take profit on BreadTalk before rising capex & start-up costs set in, advises RHB

SINGAPORE (Mar 19): RHB advises investors to sell BreadTalk and take profit given its current share price is approaching the target of $2.

The research house recommends buying back the stock when prices are closer to $1.70, which implies six times core EV/EBITDA plus investment properties’ net asset value (NAV).

This is due to expectations of rising capex and start-up costs which could result in a near-term overhang, said analyst Juliana Cai in a Monday report, especially since the group has more joint ventures (JVs) in the pipeline for the year ahead.

BreadTalk partners Wu Pao Chun Bakery to expand into 4 major China cities

SINGAPORE (Mar 12): BreadTalk announced that its wholly-owned subsidiary, Shanghai Star Food F&B Management has entered into a joint venture agreement with Taiwanese bakery brand, Wu Pao Chun Food (WPC), to operate the Wu Pao Chun brand of bakeries in Beijing, Shanghai, Shenzhen and Guangzhou.

Under the agreement, the joint venture company entered into a master franchise agreement with WPC to develop and operate the WPC brand in the four cities.

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