Legal
Jollibee to spend US$138m on business restructuring
Part of the plan is to establish cloud kitchens.
Luckin Coffee gets NASDAQ delisting notice over sales fraud
The chain recently fired its CEO and COO.
Kopi Kenangan raises US$109m in series B funding
Facebook co-founder Eduardo Saverin will also be joining the chain’s board of directors.
Luckin Coffee sacks CEO, COO amidst accounting scandal
Jinyi Guo was named the chain’s acting chief executive.
Kimly Group posts 5.3% net profit growth in H1 2020
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
Its board says its working capital position remains healthy.
Luckin Coffee's technology chief resigns amidst accounting scandal: report
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
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
The decline of comparable store sales in March was less compared to February.
Deliveroo to cease operations in Taiwan
The company said it will concentrate on other markets.
Luckin Coffee's value plunges after admitting to potential US$300m fraud
Billions were wiped off from its market capitalisation.
Yum China completes acquisition of controlling stake in Huang Ji Huang
The acquired brand operates 640 restaurants through a franchise model.
Jollibee cuts capex as COVID-19 disrupts operations
The company said it is seeing early signs of recovery in China.
Aori Ramen files for bankruptcy due to COVID-19
The company said consumer boycotts of Japanese goods in South Korea also affected their business.
Max's Group grows net profit by 14.8%
The company’s earnings surged in Q4 2019.
Hui Lau Shan served with winding-up order: report
The 260-store company has been repeatedly accused of missing bill payments.
