Jumbo Group unit, SJMF form JV to operate new SG restaurant

The partners will operate a Peking roast duck-themed restaurant in Singapore.

Jumbo Group unit, Jumbo Group of Restaurants (JGOR), has formed a joint venture (JV) with Si Ji Min Fu (SJMF) to operate a Peking roast duck-themed restaurant under the Si Ji Min Fu brand in Singapore.

The JV company was incorporated in Singapore under the name ‘SIJIMINFU-JUMBO PTE. LTD.' on 18 December 2024 with an issued share capital of $2.6m comprising 2.6 million ordinary shares.

Under the agreement, JGOR will acquire 10% of the shares of SIJIMINFU-JUMBO, which is equivalent to 260,000 ordinary shares, whilst SJMF will transfer 260,000 ordinary shares in SIJIMINFU-JUMBO to JGOR.

JGOR’s acquisition will be funded by internal resources. 

The JV will have a term of five years commencing from the closing date, unless automatically extended or otherwise agreed by JGOR and SJMF.

The JV is not expected to have a material impact on the net tangible assets per share or the earnings per share of the group for FY 2025.