Both brands are expected to see their respective first store openings under the JV agreement by this year.
SINGAPORE (May 23): RHB Research is maintaining its “neutral” call on BreadTalk with a target price of 93 cents after the group signed a joint venture (JV) agreement to bring new tea beverages as well as cafes to Singapore and Thailand.
To recap, BreadTalk has partnered Shenzhen Pindao Food & Beverage Management Co. to bring two popular Chinese tea brands, Nayuki and Tai Gai, to Singapore and Thailand with first right of refusal to operate in Malaysia, Indonesia and the Philippines.
