Legal

Luckin Coffee, associated firms fined nearly US$9 million over accounting fraud
24 Sep 20
The chain was also found to have engaged in anti-competitive practices.
Burger King China franchisee exploring sale: report
18 Sep 20
Deliberations are at the early stage.
Yum China confirms Hong Kong listing
1 Sep 20
Earlier reports say the company could raise around US$2 billion.
Starbucks Malaysia operator posts earnings slump, cites pandemic-induced restrictions
26 Aug 20
It hopes to have “satisfactory” results in succeeding financial year.
Max's Group swings to US$12m half-year loss, cites “full impact” of COVID-19
14 Aug 20
The company is also eyeing to have cloud kitchens.
Deliveroo calls for further aid to Hong Kong's restaurant sector
13 Aug 20
Some of their proposed initiatives include extending subsidy schemes and waiving rents for four months.
Koufu Group posts 82% decline in H1 profits
12 Aug 20
It expects to remain profitable in the next 12 months.
Yum China's second Hong Kong listing to take place in September
8 Aug 20
It operates 10,000 restaurants in over 1,400 cities across China.
Jollibee Foods Corporation incurs US$207m net loss in Q2
6 Aug 20
It expects financial performance to get progressively better in the next two quarters.
Koufu Group acquires Deli Asia
1 Aug 20
The move is expected to strengthen the group’s supply chain.
McDonald's China going ahead with 400 restaurant openings this year
30 Jul 20
The fast food giant also has plans to reduce their stake in their Japan business.
Cafe Coffee Day auditor resigns over “commercial considerations”
21 Jul 20
The Indian chain shuttered 280 outlets between April and June.
Luckin Coffee shakes up boardroom amidst accounting scandal
14 Jul 20
Some investors questioned the voting process.
KFC Thailand franchisee mulls US$200m potential sale: report
10 Jul 20
Talks are at an early stage.
Winding-up petitions against PappaRich Malaysia group filed
9 Jul 20
ST Group, the chain’s operator in Australia, expects the petitions to not have any impact on their business.
Pepper Lunch to be acquired by investment fund J-Star for US$79m
8 Jul 20
Collectively, the business has 514 restaurants in its portfolio.
Luckin Coffee gets second Nasdaq delisting notice
23 Jun 20
The Chinese startup’s stock price has lost 95% of its valuation since January.
Yum China goes ahead with Hong Kong secondary listing: report
19 Jun 20
The operator has been working on listing plans since the start of the year.
Cafe de Coral posts 87% earnings slump, plans to seek rent relief
17 Jun 20
The operator also plans to trim its workforce amidst the viral outbreak.
Kimly completes acquisitions of six food outlets for SG$35.5 million
4 Jun 20
They also expect to complete purchases of two coffee shops at a later date.
BreadTalk Group to delist from SGX on 5 June
3 Jun 20
It suspended trading of shares last 21 April.
Jollibee to spend US$138m on business restructuring
23 May 20
Part of the plan is to establish cloud kitchens.
Luckin Coffee gets NASDAQ delisting notice over sales fraud
21 May 20
The chain recently fired its CEO and COO.
Kopi Kenangan raises US$109m in series B funding
19 May 20
Facebook co-founder Eduardo Saverin will also be joining the chain’s board of directors.
Luckin Coffee sacks CEO, COO amidst accounting scandal
12 May 20
Jinyi Guo was named the chain’s acting chief executive.
Kimly Group posts 5.3% net profit growth in H1 2020
12 May 20
Revenue growth was attributed to five coffee shops and eight food stalls opened since November 2019.
Jumbo Group lowers guidance as coronavirus impacts key markets
7 May 20
Its board says its working capital position remains healthy.
Luckin Coffee's technology chief resigns amidst accounting scandal: report
3 May 20
The U.S. Securities and Exchange Commission is investigating the coffee chain for fabricating millions of dollars worth of sales deals.
Tougher penalties imposed for food delivery personnel who disregard S'pore's safe distancing guidelines
16 Apr 20
The stiffer measures came amidst the surge of delivery orders in the Lion City.
Starbucks expects China business to “fully recover” over the next two quarters
13 Apr 20
The decline of comparable store sales in March was less compared to February.
Deliveroo to cease operations in Taiwan
9 Apr 20
The company said it will concentrate on other markets.
Luckin Coffee's value plunges after admitting to potential US$300m fraud
9 Apr 20
Billions were wiped off from its market capitalisation.
Yum China completes acquisition of controlling stake in Huang Ji Huang
9 Apr 20
The acquired brand operates 640 restaurants through a franchise model.
Jollibee cuts capex as COVID-19 disrupts operations
8 Apr 20
The company said it is seeing early signs of recovery in China.
Aori Ramen files for bankruptcy due to COVID-19
28 Mar 20
The company said consumer boycotts of Japanese goods in South Korea also affected their business.
Max's Group grows net profit by 14.8%
14 Mar 20
The company’s earnings surged in Q4 2019.
Hui Lau Shan served with winding-up order: report
11 Mar 20
The 260-store company has been repeatedly accused of missing bill payments.
Starbucks expects Q2 sales in China to drop by 50% due to COVID-19 disruption
10 Mar 20
But it assured investors that it is seeing “signs of recovery”.
Minor International's restaurants post 3% drop in same-store sales in FY 2019
28 Feb 20
System sales, however, were up 5% in the same period.
Nayuki mulls US IPO: report
27 Feb 20
The Chinese bubble tea chain seeks to raise as much as US$400 million.

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