BREADTALK GROUP LIMITED
5DA.SI
BreadTalk Group - Expands into the UK with Din Tai Fung
- Following a SGX query on share price movements yesterday, BreadTalk Group announced that they have entered into an agreement with Fairy Rise Development Limited, the franchise owner of Din Tai Fung brand of restaurants, for the franchise right to operate Din Tai Fung restaurants in the UK.
- The structure of the JV company that would be formed for this development will be announced in due course when terms are finalized. The first Din Tai Fung restaurant is expected to open in London next year.
- We note that Din Tai Fung has been a key growth driver for BreadTalk Group, and the group has experience in operating the brand for the last 13 years in Singapore and Thailand.
- Post 3Q16 results, we have a HOLD on the stock with fair value estimate of S$1.07.
Jodie Foo
OCBC Investment
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http://www.ocbcresearch.com/
2016-11-17
OCBC Investment
SGX Stock
Analyst Report
1.070
Same
1.070
