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Old 26-05-2018, 11:15 PM   #106
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https://www.straitstimes.com/lifesty...dent-cockroach

Plaza Singapura's Toast Box suspended 2 weeks for rodent, cockroach infestation

SINGAPORE - Plaza Singapura's Toast Box has been suspended for two weeks for a rodent and cockroach infestation, with the management closing the store to renovate and ramp up its cleanliness standards.

According to a suspension notice on the National Environment Agency's website put up on Friday (May 25), the stall at #01-23 at 68 Orchard Road was suspended from Friday to June 7.

Toast Box's regional general manager Vincent Lim told The Straits Times on Saturday that the outlet fully acknowledges the results of the NEA assessment, "which reflected that there were improvements needed in the cleanliness and hygiene standards at our outlet".


He said the eatery has taken immediate action to address the findings, calling in pest control and sanitising the entire outlet.

"We also took the proactive approach to close the store for renovation in order to rectify the defects and identified issues before this NEA enforced closure," said Mr Lim.

"During this closure, we will further reinforce our standard operating procedures and training with our staff," he said. "We would like to assure all that food safety and quality remains a priority to us, and we are committed to serving customers in accordance with official regulations."


The store accumulated 12 demerit points over the last 12 months for failing to keep its licensed premises free of rodent and cockroach infestation, NEA said in its suspension notice. It was also fined $800.

Licensees who accumulate 12 or more demerit points during a 12-month period may have their licences suspended for either two or four weeks, or cancelled altogether.

All food handlers who work in the suspended premises would also be required to attend and pass the Basic Food Hygiene Course again, before they can resume work as food handlers.

NEA said it takes a serious view of these offences and would like to remind food operators to observe good food and personal hygiene practices at all times, and to engage only registered food handlers.

Members of the public who come across poor hygiene practices in food establishments may call NEA's 24-hour contact centre on 1800-CALL NEA (1800-2255-632) with details for follow-up investigations.

The BreadTalk Group - which includes brands like BreadTalk, Toast Box and Food Republic - was founded in 2000 and now has close to 1,000 outlets in 17 locations.
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Old 27-06-2018, 12:09 PM   #107
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wah breadtalk today so huat...wonder got what news
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Old 02-09-2019, 08:40 PM   #108
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BreadTalk to buy foodcourt operator Food Junction for $80m

BreadTalk to buy foodcourt operator Food Junction for $80m

https://www.straitstimes.com/busines...nction-for-80m

SINGAPORE - BreadTalk founder George Quek is coming full circle with the food and beverage company’s latest move – a proposed complete acquisition of Food Junction, a food court operator he had helped start in 1993.

Analysts said BreadTalk Group’s plan to buy Food Junction Management for $80 million marks a further consolidation in the food courts and coffeeshops market as larger firms continue to take out smaller ones in seeking market share and expansion.

The proposed acquisition will be paid in cash funded through BreadTalk’s internal resources, including available cash on hand, and debt facilities, the company said in an announcement on the Singapore Exchange on Monday (Sept 2).

BreadTalk’s wholly-owned subsidiary, Topwin Investment Holding, entered into a sale and purchase agreement for the move on Aug 30.

The acquisition is set to make BreadTalk the third-largest food court operator here, behind NTUC Enterprise – which announced it would buy food centre operator Kopitiam last year – and Koufu.

DBS analyst Alfie Yeo said: “With NTUC Enterprise buying Kopitiam in 2018, Broadway buying S-11 last year as well, and now BreadTalk buying Food Junction, the market for food court and coffeeshops is indeed consolidating.”

As at June 30, BreadTalk operates 14 food courts in Singapore and two in Malaysia under the Food Republic and Food Opera brands.

But Mr Yeo noted that while the transaction value is $80 million, this is for a business whose net profit in the first half of 2019 was just $3,183.

In the 2018 financial year, it recorded a net loss at $1.7 million.

With Food Junction’s net tangible assets valued at $12.3 million, this implies a price-to-book ratio of over six times, he said.

The ratio compares a company’s market value to its net assets and in comparison, Koufu has a price-to-book ratio of less than four times.

Mr Yeo also pointed out that there could be some drag on earnings per share in the short-term, with interest cost from the loan for the acquisition weighing on BreadTalk. But he noted that Food Junction seems to be turning around with headline earnings in the first six months this year improving.

“Food courts are a high fixed-cost business. Once revenue exceeds that fixed costs, there is going to be a high margin potential,” he said.

But there are benefits to strengthening market share and the store network, he said. A larger network provides scale to compete better in the market.

BreadTalk said yesterday that the planned acquisition will allow it to obtain additional revenue streams and “benefit from the synergies” with its existing businesses. This can be done through a streamlining of costs and sharing of resources.

CIMB Private Banking economist Song Seng Wun believes that beyond economies of scale, the move is also driven by growing wealth in Asia and a plan to tap larger markets outside Singapore.

Food Junction provides another food option that BreadTalk can take with it abroad, he said.

BreadTalk already has close to 1,000 outlets across 16 countries, under brands like Toast Box, and franchise partners such as Din Tai Fung and Song Fa Bak Kut Teh. It plans to open its first Song Fa outlet in Taiwan in the second half of the year.

Associate Professor Lawrence Loh of the National University of Singapore Business School said he expects the food court segment to continue to be a highly relevant one.

“Going forward, if the economy is not doing well, disposable income will go down and people will move down the ladder in consumer habits. This includes food, with people going to restaurants less,” he said. “I expect this will happen soon, if uncertainty in the economy creeps into the consumer space.”

BreadTalk shares closed 2.21 per cent down yesterday.

The seller, Food Junction Holdings, is 98.10 per cent owned by Auric Pacific Group, a Singapore-incorporated investment holding company involved in businesses ranging from food manufacturing and retailing to restaurants.

About 50 per cent of Auric Pacific Group is held by Lippo China Resources through its subsidiaries. The remaining 49.7 per cent is held by the chairman and executive director of Lippo, Dr Stephen Riady, and his son-in-law, Dr Andy Adhiwana through companies they own.

Auric Pacific Group said it “undertakes strategic reviews of its businesses from time to time with a view to maximising returns to its shareholders, and considers the proposed acquisition allows it to unlock value and realise its investment”.
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Old 02-09-2019, 09:32 PM   #109
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..... the transaction value is $80 million, this is for a business whose net profit in the first half of 2019 was just $3,183.
In the 2018 financial year, it recorded a net loss at $1.7 million.


No wonder BreadTalk share price is like e-scooter on a down hill ride.
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Old 11-09-2019, 08:48 PM   #110
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Competition watchdog seeks public feedback on BreadTalk's proposed acquisition of Food Junction

Competition watchdog seeks public feedback on BreadTalk's proposed acquisition of Food Junction

https://www.straitstimes.com/busines...sition-of-food

SINGAPORE - The Competition and Consumer Commission of Singapore is inviting public feedback on BreadTalk Group's proposed acquisition of Food Junction Management for $80 million.

This comes after BreadTalk's subsidiary Topwin Investment Holding, which has entered into a sale and purchase agreement for the acquisition, asked for a decision on whether the transaction would infringe the Competition Act.

Section 54 of the Act prohibits mergers that have resulted, or may be expected to result, in a substantial lessening of competition within any market in Singapore.

Topwin submits that it primarily overlaps with foodcourt operator Food Junction in two markets.

They involve the sale of drinks, fruits, snacks, desserts and hot meals to consumers in foodcourt premises, as well as the rental of stalls to food vendors.

Topwin also said that the proposed transaction will not result in a substantial reduction of competition in these markets here, in part because both are "highly competitive" and the merged entity will continue to be constrained by a large number of competitors.

Customers in both markets can easily switch across multiple alternatives, it added, and food vendor tenants can also move to other coffee shop and foodcourt premises if they find that rental terms offered are not competitive.

Topwin said that the barriers to entry and expansion are low, as "it is not unduly restrictive or onerous for food vendors and foodcourt operators to obtain the necessary operating licences from the Government".

It is also not overly costly for food vendors to set up new food stalls in foodcourts, coffee shops and hawker centres, it added.

Topwin also submits that the merged entity "faces strong countervailing constraints by landlords, who may choose not to renew the master lessor if the rental rates imposed on food vendor tenants are too high, which translates to fewer food vendors and consequently lower foot traffic to the landlords' premises".

Additionally, the transaction will allow the merged entity to enjoy cost efficiencies by streamlining Food Junction's head office operations with BreadTalk's centralised shared services team for support functions such as finance and human resources, according to Topwin.

The food stalls directly operated by Food Junction and Food Republic can achieve "significant cost reductions through joint procurement" as well.

The commission is inviting public feedback until Sept 24.
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Old 11-09-2019, 09:19 PM   #111
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$0.64. Cham.
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Old 12-09-2019, 07:05 PM   #112
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cfm food price to increase

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Old 14-09-2019, 02:51 PM   #113
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vested 8 lots
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Old 14-09-2019, 02:53 PM   #114
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bougt them a few years ago
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Old 19-09-2019, 10:26 AM   #115
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Food Junction buy spells short-term pain for BreadTalk: analyst

Food Junction buy spells short-term pain for BreadTalk: analyst

https://sbr.com.sg/food-beverage/mor...adtalk-analyst



It could incur acquisition debt of S$50m along with assumed interest of 2.5-3.5%.

BreadTalk’s $80m acquisition of Food Junction is expected to weigh in on its margins and earnings amidst the latter’s lower profitability although the purchase lends support to BreadTalk’s long-term bid to dominate the Singapore food court scene, according to DBS Research.

BreadTalk is likely to borrow additional debt of $50m along with assumed interest cost of 2.5-3.5%. “[Although] the fifteen Food Junction outlets will contribute to revenue...we impute lower operating margins at Food Atrium Division in FY20F due to Food Junctions’ lower profitability,” analyst Alfie Yeo said in a report.

“We estimate the group to incur around $1.8m of additional interest expense pa to fund this acquisition, an amount which is likely to offset most cost synergies derived from the acquisition,” Juliana Cai, analyst at RHB said in a separate report.

Against this backdrop, Yeo lowers operating profit margin assumption for FY20F to 8% (from 10% previously) before normalising to 10% by FY21.

Despite the short-term pains associated with the acquisition, the purchase is likely to cement BreadTalk’s long-term growth outlook especially since it cements the company's position as the third largest foodcourt player in Singapore, behind NTUC Foodfare/Kopitiam and Koufu.

BreadTalk can expect its portfolio of 14 foodcourts in Singapore and two in Malaysia to grow substantially as Food Junction brings in 12 more foodcourts in Singapore and 3 in Malaysia with one more opening next year in Mid Valley Southkey, Johor Bahru.

“Although we see some drag on EPS in the short term, the acquisition could be positive over the long term as foodcourt is a high fixed-cost business and once revenue exceeds fixed costs, there is high-margin potential,” said Yeo.

Unlike BreadTalk’s Food Republic that caters to the premium segment, Food Junction offers a different value proposition that targets the mass market. The average ticket size at Food Junction is 10-15% lower than at Food Republic, added Cai of RHB.
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Old 19-09-2019, 11:48 AM   #116
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63 cents left for the stock.
No one seems to believe in George's story about his nostalgia.

BT had one article a few weeks ago questioning why BreadTalk paying so much when it was worth a dime earlier & miniscule profit.

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Old 19-09-2019, 01:32 PM   #117
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This bread better don’t let me down
Hahahaa
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Old 19-09-2019, 02:07 PM   #118
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Do u guys buy bread from bread talk?

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