Bromat was listed in 2017 and has since been focused on its balance sheet and funding needs. After many twists and turns, including shareholder tussles, the company no longer owns the No Signboard brand. According to its website, its F&B offerings are now under Shang Society, Little Sheep Hotpot and Dining Haus.
However, according to replies posted on SGXnet, Bromat can only operate one Little Sheep outlet at Orchard Gateway and it will not be focusing on Little Sheep Hotpot as the landscape is very competitive. Instead, Bromat will work on expanding its fast-casual dim sum outlet under its Shen Jian brand, and Dining Haus.
Unfortunately, Bromat is better known for its legal and financial issues than for food. For instance, the company’s latest financial results for nine months to June 30 show negative operating cash flow, negative equity versus $4 million of debt, and the inability to cover interest costs. Bromat announced a loss of $24,255 for the nine months to June 30.
These conditions are likely to be unappetising for investors and diners alike.
See also: Prospects of better FY2025 earnings inspire new ideas for ThaiBev
