Each of the JV companies were incorporated by Hong Kah Holdings and Joo Seng Holdings with an initial issued share capital of $100 comprising 100 ordinary shares each.
Kimly Makan Place, the wholly-owned subsidiary of Kimly Limited, has entered into two joint venture agreements (JVA) with Hong Kah Holdings and Joo Seng Holdings for the operation and management of the coffeeshops located at Block 376 Bukit Batok and Block 1 Upper Aljunied Lane, respectively.
The coffeeshops are leased by the two joint venture (JV) companies Hong Kah Food Place and Joo Seng Food Place.
