Jumbo going beyond chilli crab to bring famous Siji Minfu Peking duck chain to Singapore
Jumbo going beyond chilli crab to bring famous Siji Minfu Peking duck chain to Singapore
SINGAPORE - Home-grown seafood restaurant group Jumbo has inked a joint venture with Chinese roast duck brand Siji Minfu to bring its signature Peking duck to Singapore.
While no launch date was provided, the restaurant is expected to open at Resorts World Sentosa, featuring the brand's famed traditionally roasted Peking duck and its hallmark northern Chinese flavours. The setting will be one inspired by traditional Beijing courtyards.
Jumbo said the venture offers a timely opportunity to 'build a strong partnership' with Siji Minfu and 'capitalise on the growing global food and beverage sector in Singapore' through the introduction of the established Chinese brand.
The Singapore Exchange-listed company added that the collaboration is part of its 'continuing growth strategy to build a robust roster of food and beverage brands and diversify its operations', with a view to enabling future growth, regional expansion and potential spin-offs.
The group, which is famous for the chilli crab sold by its Jumbo Seafood brand, has a presence across several cities in China, including Shanghai, Beijing and Fuzhou.
In May, the restaurant operator reported a 10.6 per cent decline in profit to $7.9 million for the six months ended March 31, down from $8.9 million in the year-ago period.
For Siji Minfu, this will mark the brand's first overseas outlet, adding to its existing footprint of more than 20 locations in China, including in prominent areas such as Wangfujing and Qianmen Street in Beijing. These China-based outlets are not part of the joint venture.
Siji Minfu's Singapore arm was incorporated on Aug 7, 2023, while the joint venture company, Sijiminfu-Jumbo, was established on Dec 18, 2024.
The joint venture is set to run for an initial term of five years, with the possibility of automatic extension or renewal by mutual agreement between the partners.
It has an issued share capital of $2.6 million, comprising 2.6 million ordinary shares – 90 per cent held by Siji Minfu and the remaining 10 per cent by Jumbo.
Jumbo said the investment will be funded by internal resources, and is not expected to have a material impact on its net tangible assets or earnings per share for the financial year ending Sept 30. THE BUSINESS TIMES
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