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Kimly enters into JV to operate and manage HDB coffeeshops in Bukit Batok and Serangoon

Felicia Tan
Felicia Tan • 3 min read
Kimly enters into JV to operate and manage HDB coffeeshops in Bukit Batok and Serangoon
The total consideration of $1.9 million has been fully paid off in cash, which came from Kimly’s IPO proceeds.
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Kimly Makan Place, the wholly-owned subsidiary of Kimly Limited, has entered into a joint venture agreement (JVA) with Tade Group in relation to the operation and management of two short-term HDB coffeeshop leases on April 29.

The coffeeshops in question are located at Blk 233 Bukit Batok East Avenue 5 #01-53 and Blk 153A Serangoon North Avenue 1 #01-462.

They are leased by the joint venture company (JVCo) Zhen Wei Food House.

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