- YKGI, the company behind Yew Kee Duck Rice and Chicha Sanchen bubble tea, is set to list on the Catalist board of the Singapore Exchange (SGX) on 6 February 2023. The company intends to use the IPO proceeds to open new outlets in Singapore and drive expansion overseas.
- YKGI's revenue grew strongly from 2019-21 driven by its Franchise business. Management of YKGI expects revenue to grow further in FY22 with theopening of new outlets and improved performance of its existing portfolio.
- YKGI generated a higher net margin compared to its peers, but management expects cost pressures from higher food ingredient and manpower expenses.
- Based on its listing price, YKGI would trade at a price-to-earnings (P/E) of about 11x, inline with the P/E of Kimly and Japan Foods.