Used to own Food Junction, very good dividend, and every year gave me food voucher $8 so i can eat a good meal there.
But slowly they start doing all kinds of things, like setting up japanese gift biscuit shop, buying china pub Malone. The day when i receive no food voucher, but the biscuit gift shop voucher, which i still need to top up ($8 not enough to buy). I decided to exit.
Do they now still give the food voucher yearly? The food court one?
FJ has lost most of the goodwill since the riadys' purchase of majority stake years back. its privatisation value should be close to, but not more than, nav.
11.3million sounds like less than half of current food junction's market capitalisation..
i couldnt believe fj would accept such an offer
As expected, FJ reported a loss in Q3.....
http://info.sgx.com/webcoranncatth.nsf/V...E003A44AB/$file/111104-FJH-Result_Announcement_3Q2011.pdf?openelement
, mainly attributable to the closure of the loss-making Malones Suzhou in Jul11 (total impact: $650k, of which $541k related to write-off of fixed assets), and write-down of fixed assets in subsidiary Food Junction Beijing Co., Ltd (impact: $250k).
After adjusting for the above one-off items and adding back other non-cash items, FJ Group continued to generate a decent positive FCF, which is more than enough to fund recurrent capex (including those related to business expansion).
Apart from the relatively successful "Medzs" Mediterranean restaurant (opened in Apr11) located at B2 of Orchard Central, FJ continues to invest in new F&B business concepts. FJ will soon open a brand-new Japanese-French restaurant by the name "LP+Tetsu" at Tanglin Mall with Michelin-starred chef Laurent Peugeot.....
http://shops.st701.com/resources/index.p...d-Junction
More info on chef Laurent Peugeot....
http://www.soshiok.com/critic/article/15785
today i tried the herbal chicken wrapped in aluminum foil with a bowl of rice at harbor front food junction which cost me $6. when i opened the wrap, the chicken meat is red in color, is not fresh at all..