However, additional funding is needed beyond the coming 12 months and No Signboard is still looking for other investors.
Dr Ng Chin Siau is poised to be the single-largest shareholder of beleaguered restaurant operator No Signboard Holdings following the purchase of a 29% stake for the token sum of $1.
As part of the deal, Ng, better known as the co-founder and CEO of Q&M Dental Group, is extending an interest-free, unsecured loan of $2.6 million to No Signboard for working capital.
