Koufu is an established Singapore household name well-known for its chain of food courts and coffee shops. Koufu Group reports two complementary business segments — Outlet and Mall Management (comprising 50 food courts, 16 coffee shops, 1 hawker centre, 1 commercial mall); and its F&B Retail segment (comprising 76 F&B stalls, 29 kiosks, 7 quick-service restaurants and 4 full-service restaurants).
Most of Koufu’s outlets and stalls are in Singapore. It also operates marginally in Macau and Malaysia. Koufu leases out stalls at these outlets and operates some of the F&B stalls at these premises.
Koufu was originally poised to benefit from the trade tariff-induced economic slowdown as consumers scaled down on restaurant dining. However, the lockdown in Singapore due to COVID-19 means that Koufu’s business will take quite a hit as dining out is prohibited.
I tuned in to Koufu’s 2020 virtual AGM to find out how Koufu performed in FY2019 and how it intends to navigate the operational difficulties posed by COVID-19. Here are five things I learned from Koufu’s 2020 AGM....