F&B chain Apex-Pal goes for Sesdaq listing
DOUGLAS Foo, a young entrepreneur who has bagged several business
awards and is known for his Sakae Sushi chain, is taking his food
and beverage chain public.
Jul 22, 2003
The
Business Times
Apex-Pal, which operates restaurants, cafes and kiosks, yesterday
lodged its preliminary prospectus with the Monetary Authority of
Singapore to list its shares on Sesdaq.
Chief executive of Apex-Pal, the 34-year-old Mr Foo, was the Rotary-ASME
Entrepreneur of the Year 2002 and recipient of the Singapore Youth
Award for Entrepreneurship 2003 from the National Youth Council.
Apex-Pal plans to use the net proceeds from the issue to help set
up more food and beverage outlets locally and abroad as well as
for general corporate and working capital requirements.
Established in 1996, Apex-Pal opened its first Sakae Sushi restaurant
in September 1997 and has since built up a wide network of food
and beverage outlets in Singapore.
It has also through its franchise operations established its Sakae
Sushi chain of restaurants in various parts of Asia.
The group also runs Crepes & Cream, a chain of trendy outlets
serving innovative dishes, and Nouvelle Events, a food processing
and catering outfit.
For the year ended Dec 31, 2002 , the food and beverage business
accounted for 96.7 per cent of the company's revenue of $23.48 million.
Net profit came to $2.57 million.
The company has franchise agreements on its F&B brands with
operators in Indonesia, Thailand and the Philippines, and has entered
into a technical assistance and licence agreement in China.
SBI E2-Capital is the listing manager for Apex-Pal
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