The move is line with the Group’s plans to expand restaurant brands and network to strengthen Singapore presence.
On March 9, 2018, Jumbo F&B Services Pte. Ltd entered into a franchise agreement through a joint venture with Kang Wang Holdings Limited, a wholly-owned subsidiary of Tsui Wah Holdings Limited, to work together in expanding Hong Kong-style Cha Chaan Teng under the Tsui Wah brand into Singapore.
The JVC has also entered into a franchise agreement with Tsui Wah International Patent Limited dated 9 March 2018, whereby Tsui Wah IPL shall grant the JVC, inter alia, the right to use the “Tsui Wah (翠華)” trade marks and trade names in Singapore. The JVC will be a 49:51 joint venture between JFB and Kang Wang.
As at 31 January 2018, the Tsui Wah Group has 70 outlets in Hong Kong, Macau and the People’s Republic of China. The introduction of Tsui Wah into Singapore will be the brand’s first entry into the Southeast Asian consumer market.
Ang Kiam Meng, group CEO and executive director of JUMBO, said, “We look forward to expanding our F&B brands portfolio with the inclusion of the Tsui Wah brand, a highly regarded F&B chain in Hong Kong and China. This is part of our Group’s strategy to grow our network of restaurants, and to further strengthen our foothold in Singapore. We intend to capitalise on the popularity and growth potential of the Hong Kong-style Cha Chaan Teng market in Singapore to broaden our local customer base.”
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