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Katrina Group enters strategic collaboration with Lotte GRS to bring Korean hamburger chain to Singapore
Ashley LoWed, Oct 23, 2024 &bull 06:51 PM GMT+08 &bull &bull 2 min read
The first LOTTERIA store is expected to open by the second quarter of 2025. Photo: Lotteria
Food and beverage (F& B) restaurant operator Katrina Group 1A0has entered into a strategic collaboration with Lotte GRS to bring Korea&rsquo s hamburger chain, LOTTERIA, to Singapore.
According to an Oct 23 release, the group says that the collaboration is set to build on &ldquo the group' s strong brand portfolio and the local enthusiasm for innovative dining experiences&rdquo .
LOTTERIA, which was established in 1979, is a Korean fast food chain known for its Korean style burgers. It currently operates more than 1,600 stores across seven countries.
Currently, both groups have since signed a non-binding term sheet and are in the midst of finalising the definitive terms of the franchise.
The group adds that the collaboration represents a milestone for Katrina Group as it &ldquo continues to expand its portfolio and enhance its offerings&rdquo .
Alan Goh, CEO and founder of Katrina Group, says, &ldquo Given the brand&rsquo s massive popularity in Korea and its emphasis on quality, innovation, and customer satisfaction, we are confident that LOTTERIA will resonate with Singaporeans and further enhance our F& B portfolio. This partnership also reinforces our commitment to bring new, dynamic F& B experiences to Singapore, following our success with international brands.&rdquo
Katrina Group brings Korean beer and fried chicken venture into Singapore
Katrina Group has formed a joint venture to bring the Korean brand Daily Beer into Singapore.
Katrina will hold 80% of the venture while DailyBeer Co will own the remaining 20%. The partners will do this for an initial period of five years.
Alan Goh, Katrina' s executive chairman and CEO describes this partnership as part of his company' s strategy to rejuvenate its F& B brands.
Katrina' s existing F& B brands include So Pho, Streats and Bali Thai.
Goh calls Daily Beer a " novel" F& B concept, selling Korean craft beer and fried chicken.
&ldquo This new venture combines Katrina Group 1A0 0.00% &rsquo s and DBK&rsquo s strong network, experience, and expertise, providing a strategic platform," he says.
DailyBeer Co, set up in 2014, runs around 370 stores across Korea, either directly run or via franchises.
Lim Sang Jin, who holds 68% of DailyBeer Co says he is " delighted" with the opportunity to collaborate with Katrina Group.
" With their extensive expertise, experience and network in the Singapore food and beverages industry, we see this opportunity as a forward step in establishing our presence in Singapore,&rdquo he adds.
Katrina Group&rsquo s renounceable non-underwritten rights issue of warrants oversubscribed
Katrina Group&rsquo s renounceable non-underwritten rights issue of warrants, which closed on Oct 3, was oversubscribed by 108.6 million warrants.
The group proposed a renounceable non-underwritten rights issue of up to 232.5 million warrants at an issue price of 0.1 cent per warrant. Each warrant carries the right to subscribe for one ordinary share in the company at an exercise price of 2 cents per new share. This is on the basis of one warrant per one existing ordinary share in the company held by its shareholders.
The exercise price of 2 cents represents a discount of around 9.1% to the group&rsquo s last traded price of 2.2 cents per share on June 28, which is the last full market day where the shares were traded prior to the release of the announcement on June 30.
The issue price of 0.1 cent and the exercise price of 2 cents collectively represent a discount of approximately 4.5% to the company&rsquo s last traded price of 2.2 cents on June 28.
According to the group, the net subscription proceeds will be used to fund the renovation of its new food and beverage (F& B) outlets.
The group owns and operates six F& B brands in Singapore and Indonesia.
Katrina discloses further details on URA investigation, affirms suitability of CEO
CATALIST-LISTED Katrina Group : 1A0 0% on Wednesday (Jun 29) shared further details on an investigation by the Urban Redevelopment Authority involving the company&rsquo s chief executive Alan Goh Keng Chian and 2 employees, in response to queries from the Singapore Exchange.
The company had previously announced that a senior employee and a junior employee of subsidiary ST Hospitality are assisting URA with an investigation. Goh has also received a notice to attend an interview regarding the investigation.
In Wednesday&rsquo s filing, Katrina disclosed that the 2 employees of ST Hospitality are a senior revenue manager and a reservation and sales manager. Their work responsibilities are to lead pricing strategy, set rates, oversee sales of ST Hospitality inventory and administration, and handle direct and corporate sales of ST Hospitality.
URA has indicated that the inquiry is into an offence involving short-term accommodation provided by ST Hospitality, but the particulars of the offence were not disclosed. As such, Katrina&rsquo s board said that it is unable to confirm the operations and financial impact of the possible breaches of the minimum stay requirement.
Asked by SGX on Goh&rsquo s suitability to remain chief executive, the nominating committee (NC) said that he remains suitable as investigations are still ongoing and no charges have been made against him.
&ldquo In arriving at this view, the NC and the board have considered the past working relationship with the CEO since his founding of the company. The CEO has always conducted his duties professionally and in the best interests of the Group,&rdquo Katrina said.
The company noted that he heads the formulation of strategic directions and expansion plans in Singapore and overseas markets and manages the overall business development.
Katrina&rsquo s sponsor Hong Leong Finance added that the investigation is still ongoing and it is unable to confirm that Goh is the subject of the investigation. His interview is scheduled for Jul 7.
&ldquo Taking into account the board&rsquo s view and assessment and having found no adverse information on Goh, the sponsor has not found information that may impair his suitability to continue as a director and CEO of the company,&rdquo Hong Leong Finance said, adding that it would re-assess his suitability as more information is available.
Thus far, Goh and the 2 employees have not been served with any order to produce documents or asked to surrender any travel documents.
ST Signature by KATRINA...
https://www.asiaone.com/singapore/malaysian-tourists-left-petrified-and-traumatised-after-suffering-bed-bug-bites-singapore
Malaysian tourists left ' petrified and traumatised' after suffering bed bug bites at Singapore hotel
" How bad can it be? It' s Singapore," That' s the thought that ran through the minds of Malaysian Phia Boo and a friend, when they decided to book their stay at a budget hotel here.
What they didn' t expect after a two-night stay, however, was to end up with their bodies covered in itchy bed bug bites.
More from AsiaOneRead the condensed version of this story, and other top stories with NewsLite.
Boo had booked a two-night stay from June 15 to 17 at ST Signature located at Jalan Besar. Branded as a " co-living hotel" , the room Boo stayed in was a twin-sharing room with no ensuite bathroom.
In a Facebook post on June 18, the 45-year-old detailed her experience after she and a friend woke up after their first night at the hotel, covered in multiple red welts. They were " petrified and traumatised" , she wrote.
Photos shared in the post showed bumps around her friend' s chest and up to her neck. Swollen marks were also found on their feet and torso.
A photo taken of her friend' s bites after the first night. PHOTO: Phia Boo
Speaking to AsiaOne about the " nightmare" that they went through, Boo shared that upon checking in, they had to switch rooms as the air-conditioning in the first room wasn' t working well.
The second room, they noticed, was less well-kept with " black spots on the wallpaper" .
" The moment I laid down on the bed, I started to scratch already," said Boo.
She believed she had fewer bites than her friend because she was tossing and turning while " scratching the whole night" , whereas her friend " slept like a log" .
Upon waking up after their first night with the obvious bite marks, they found what appeared to be a bed bug on the bedsheet and informed the hotel.
PHOTO: Phia Boo
A staff member who later came to inspect the room also found another bed bug, which she killed.
Bed bugs found during subsequent night' s stay
The guests were offered an upgraded room for their second night' s stay as well as a free laundry service for their clothes, which they accepted.
PHOTO: Phia Boo
Before sleeping in the new room the next night, Boo and her friend sprayed themselves with tea tree oil that they had bought that day in an effort to prevent any more bites.
However, Boo found another bedbug on the linen the next morning, and the bites on her friend appeared to have worsened in number and appearance.
PHOTO: Phia Boo
Checking out of the hotel and getting into Johor Bahru, Boo shared that the pair immediately went to a laundromat to wash their clothes and bag packs again with hot water to ensure that they weren' t bringing home any bugs.
Boo' s friend also had to see a doctor for her rashes.
She added that no refund was given nor medical compensation offered at that point, but admitted that they did not request for it.
" We go through so much hassles and wasted our time and money. I wonder how they get the ' SG Clean Certified' from the government [sic]. Ridiculous!" wrote Boo in her Facebook post.
Boo told AsiaOne that the reviews of ST Signature on Airbnb' s booking platform were good, which was why they decided to stay at the hotel.
However, it was only after their bad experience that her friend discovered two other reviews that cited incidents of bed bugs in the hotel, both from early this year.
Screengrab from Facebook
Screengrab from Google
' A couple of bed bugs found'
In a response given to AsiaOne on Wednesday (June 29), ST Signature stated that they had engaged a pest control vendor Autopest Pte Ltd to clean the affected room after the first complaint, where they found " a couple of bed bugs but no eggs" .
The second room was inspected by the host and housekeeper after the second complaint, whereupon " one adult bed bug and no eggs" were found.
It also claimed that " the absence of any eggs [found in the room] almost certainly rules out an infestation" .
In an email reply, the hotel said it considers Boo' s case an " isolated incident" and believes that the bugs were " very likely" to have been " brought in with luggage in the days prior to the incident" .
Boo maintained to AsiaOne, however, that staff had informed them that pest control had sanitised the room they were upgraded to prior to their stay, and staff member had told them that " they found one adult bed bug and no eggs" .
Boo has rubbished any allegations that they could have brought in the bed bugs, sharing with AsiaOne that if they had carried the bed bugs, she should have been " scratching while driving from KL to JB" .
Moreover, the pair had also found another bed bug crawling on their sheets after their second night.
PHOTO: Phia Boo
Boo said that she was hesitant to post their complaint on Facebook at first as she " didn' t want to create drama" , but only decided to do so only after her friend' s bites became more severe on the third day.
" I started to feel bad so I felt I had to put it on Facebook and warn others," Boo told AsiaOne.
Bite marks on Boo' s friend which appeared to have gotten more severe after the second night. PHOTO: Phia Boo
' It' s not about the money at all'
And while the hotel stated in a media report published on Tuesday (June 28) that they have since given a full refund, Boo said she had only been notified of the refund the same day of the report, and that the refund amount was " not in full" .
" We paid about RM662 [about S$209] but the refund was about RM528," shared Boo, who said that the hotel has not reached out personally to enquire about the incident.
She added: " It' s not about the money at all, we can afford it, it is the experience and suffering."
In response to AsiaOne' s queries, ST Signature confirmed that no request for refund nor compensation was filed and that the refund was " processed out of goodwill on our end based on the full amount we received" .
" The actual amount guests paid are subject to platform fees and can be influenced by exchange rates as well."
According to a hotel spokesperson, ST Signature engages a weekly " pest management service" , and if pest activity is confirmed, " the room will be treated/fumigated and left isolated for at least six days" before it can be allocated to guests.
The spokesperson indicated that they have not detected any bed bug activity since " nor received reports of similar encounters" .
They added: " We are disheartened that the guests had an unpleasant experience during their stay in Singapore.
" We have done our best to provide the service and assistance to the affected guests and we sincerely hope to welcome back to ST Signature again in the future."
Katrina CEO to be hauled up for interview in relation to URA investigation
FOOD and beverage (F& B) company Katrina Group announced on Saturday (Jun 25) that chief executive officer Alan Goh Keng Chian has received a notice to attend an interview in relation to an investigation by the Urban Redevelopment Authority (URA).
The URA investigation involves possible breaches of the minimum stay requirement by ST Hospitality and its subsidiaries.
Katrina on Jun 22 had also announced that 2 employees &ndash a senior employee and a junior employee &ndash of subsidiary ST Hospitality are assisting with the URA investigation.
Katrina said that the investigation is ongoing, and no charges have been filed against the group nor any of the relevant persons as at Jun 25.
Formerly known as Straits Organization, ST Hospitality offers corporate serviced apartments under the brand of ST Residences and co-living hotel under ST Signature.
The hospitality business segment of Katrina also provides domestic household cleaning services to the customers staying in service apartments and co-living hotels under SO Services.
Following its rebranding in 2020, ST Hospitality had appointed property veteran Tan Juay Hiang as senior adviser to the group to assist with its expansion plans and real estate diversification.
Tan was formerly managing director of Reit Investments at Ascott, CapitaLand' s wholly owned lodging business unit. Prior to that, he was CEO of Ascendas Hospitality Trust, which has since merged with Ascott Residence Trust.
Katrina&rsquo s hospitality segment raked in revenue of S$12.8 million for the FY2021 ended December &mdash accounting for close to a quarter of the F& B group&rsquo s total revenue of S$53.8 million.
Employees of Katrina Group subsidiary under investigation by URA
TWO employees of a subsidiary of food and beverage (F& B) group Katrina Group are assisting with an investigation by the Urban Redevelopment Authority (URA), the company said in a bourse filing on Wednesday (Jun 22).
The investigation involves possible breaches of the minimum stay requirement in respect of the provision of short-term accommodation provided by ST Hospitality and its subsidiaries. ST Hospitality is a subsidiary of Katrina.
The duo consists of 1 senior employee and 1 junior employee, Katrina said, without giving any further details on their positions. The 2 employees had each received a notice dated Jun 16 about the investigation.
Katrina said that the investigation is still ongoing, and no charges have been filed against the group nor any of the relevant people as at Wednesday.
It added that the board will make further announcements as and when there are material developments on the matter.
Katrina warns of FY2020 loss on Covid-19 impact
DINING group Katrina Group, which includes brands Bali Thai and So Pho, anticipates a loss for FY2020 ended December, the Catalist-listed company announced in a Thursday bourse filing after the market close.
The expected loss is due to lower revenue amid the Covid-19 pandemic, as well as impairment losses on some non-current assets, Katrina said. It will announce its full-year results on or before March 1.
Katrina Group
On June 30, Katrina Group founder, executive chairman and CEO Alan Goh Keng Chian acquired 285,000 shares of the Catalist-listed company at an average price of 10.93 cents per share. The consideration of the transaction totalled S$31,151. This took his total interest in the F& B group, with multi-cuisine concepts, from 88.59 per cent to 88.71 per cent.
This followed his acquisition of 169,100 shares at 11.63 cents per share between June 12 and 15. Mr Goh has gradually increased this total interest from 84.60 per cent as of the IPO on July 26, 2016.
Mr Goh heads the formulation of the group' s strategic directions and expansion plans in Singapore and overseas markets, and manages the group' s overall business development.
The acquisition also increased the total interest of Madaline Catherine Tan Kim Wah in Katrina Group. Ms Tan is the co-founder, executive director of the group and spouse of Mr Goh.
Katrina Group
Between April 30 and May 4, Katrina Group founder, executive chairman and CEO Alan Goh Keng Chian acquired 630,000 shares of the Catalist-listed company at an average price of 11.3 cents per share.
The consideration of the transaction totalled S$71,313.
This took his total interest in the F& B group, from 88.24 per cent to 88.51 per cent.
He has gradually increased this total interest from 84.60 per cent as of the IPO on July 26, 2016.
Mr Goh heads the formulation of the group' s strategic directions and expansion plans in Singapore and overseas markets, and manages its overall business development.
The acquisition also increased the total interest of Madaline Catherine Tan Kim Wah in Katrina Group.
She is the co-founder, executive director of the group and spouse of Mr Goh.
Wow making comeback. Anyone know why?
Dropping like crazy today. One of my worst stocks...
I like their seafood pho noodle..
But not their share..haha
But not their share..haha
What is the view on this stock??? Has been quiet and trending down for Long time??
This stock probably needs some acquisition or expansion to reignite the engine
This stock probably needs some acquisition or expansion to reignite the engine
imho, i am thinking they may seems better profit in 2017. if we read the p& l, there are IPO expenses due to the launch of IPO and high marketing expenses due to the launch of e commerce. the down side is their china outlets is non performing, i am wondering how can they growth overseas (but they did mention franchise business)?
tzhoji ( Date: 25-Feb-2017 17:20) Posted:
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Quite attractive dividend payout..pending announcement for dividend ...short term wise may not be able to see the price to move up a lot...or perhaps otherwise dip further...maybe have to wait and see..keep for Long term
0.61 cents dividends. it is about 2.77% yield.
HAITUNI ( Date: 25-Feb-2017 13:49) Posted:
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0.6 cents dividends
Agree...but have to see overall result ...the dividend declared?