Jumbo Group of Restaurants has entered an agreement to establish a joint venture company with Si Ji Min Fu (SJMF), to operate a Peking roast duck-themed restaurant under the Si Ji Min Fu brand, according to a bourse filing on May 16.
The Si Ji Min Fu brand is a culinary name originating from China in 2008, known for its Peking roast duck and northern Chinese cuisine. The brand has 20 outlets in prime locations such as Wangfujing and Qianmen Street. The entity was incorporated in Singapore in 2023 as a private limited company engaged in restaurant operations.
With SJMF, Jumbo Group’s joint venture called SIJIMINFU-JUMBO was incorporated on Dec 18, 2024 with an issued share capital of $2.6 million with 2.6 million ordinary shares.
Jumbo Group will acquire 10% of the shares in the JV company, and SJMF will own the remaining 90%.
Shares in Jumbo closed flat at 27 cents on May 16.
