Chaswood begins trading on SGX today
A Malaysian restaurant operator that aims to be the leading casual dining player in South-east Asia by 2015 begins trading on the Singapore Exchange today with shares issued at 30 cents a share.
Remisier kings
The cousins who have taken over Peter Lim’s throne View PDF
Comments
By Yunita Ong
21 March 2012
A Malaysian restaurant operator that aims to be the leading casual dining player in South-east Asia by 2015 begins trading on the Singapore Exchange today with shares issued at 30 cents a share.
Catalist-listed Asia Silk Holdings underwent a reverse takeover and is now called Chaswood Resources.
Chaswood is a franchisee to four international brands, including T.G.I. Friday’s, and runs nine of its own food and beverage businesses in Singapore and Malaysia.
It sees much growth potential in the region.
‘South-east Asia has one of the youngest populations in the world and a huge population base. Urban migration is increasing and people are getting more disposable income,’ Datuk Jared Lim, non-executive director of Chaswood, told a media briefing yesterday.
‘Over the next three to five years, we foresee more people here eating out and spending.’
The less developed markets of Indonesia and Thailand, with their large populations, are especially appealing to Chaswood.
Chaswood, which has 42 restaurants and 13 brands, including four in Singapore, is aiming to expand to 100 outlets in South-east Asia within four years.
It aims to increase the number of restaurants here to about 10 in five years.
In February, Chaswood secured exclusive rights to operate 10 South Korean restaurant chain Bulgogi Brothers outlets in Singapore, Malaysia, Thailand and Indonesia for 10 years.
Earlier this month, it signed a memorandum of understanding with Singapore-based Paradise Group Holdings for the exclusive right to develop and operate Paradise Dynasty restaurants in Thailand.
In addition, it is also finalising franchising arrangements for its own brand Teh Tarik Place, which sells Malaysian ‘mamak-stall’ food, beyond Malaysia’s shores.