Katrina Group Ltd. (“Katrina” or the “Group”), an established and recognised Food & Beverage (“F&B”) group specialising in multi-cuisine concepts and restaurant operations, today announced that it has opened its first So Pho restaurant in Shanghai under the joint venture (“JV”) company, So Pho International Limited, with Big Benefit Group Limited, a wholly-owned subsidiary of Ajisen (China) Holdings Limited (“Ajisen China”, and together with its subsidiaries, collectively, the “Ajisen Group”).
The BaiLian Chuansha Shopping mall is located in Chuansha New Town in the Shanghai Pudong New Area. The Pudong area is a financial hub of modern China and one of the most populous districts in Shanghai. Nearby landmarks include the Port of Shanghai, the Shanghai Expo and Century Park, Zhangjiang Hi-Tech Park, Shanghai Pudong International Airport, the Jiuduansha Wetland Nature Reserve, and the Shanghai Disney Resort.
The Group’s outlet in Shanghai is approximately 1,162 square feet with a seating capacity of 42. The location of its maiden outlet enhances the Group’s ability to raise the So Pho brand profile to a wider consumer mix, thus helping to pave the way for further expansion in the region.
The Group has also opened three new restaurants in Singapore, one each in Causeway Point and Northpoint City under the brand name “So Pho” and one at Suntec City under the brand name “Streats”. The Group looks to complete the opening of its outlets at Marina One and West Mall by end-January2018, which will bring the total number of restaurants operated by the Group to 41. Adding to this, the Group has also signed agreements to open a “Streats” outlet in Tampines 1 and a “So Pho” outlet in Jewel Changi Airport.
We have made good progress since our listing in July 2016, increasing our total number of restaurants by seven to 41 by end-January 2018. Although conditions have been less than favourable since we listed, we see some improvement in consumer sentiment. With the foundation that we have set, we believe that 2018 is a year with the potential for significant positive development for the Group.
We will continue to persevere and look ahead for further opportunities to raise our profile and market position in the region.”
The Group will continue to update the market as and when there are material developments to its business.