Under the joint management agreement, Tung Lok Millennium will subscribe for all the shares in Camo Café & Bar such that the latter will have an initial issued and paid-up capital of $1,000 over 1,000 shares. The payment will be funded using internal resources.
Tung Lok Restaurants (2000) (SGX:540
) has, through its wholly-owned subsidiary, Tung Lok Millennium, incorporated a wholly-owned entity by the name of Camo Café & Bar on March 21.
On the same day, Tung Lok Millennium and Camo Café & Bar entered into a joint management agreement with Safra National Service Association under which Tung Lok Millennium and Safra will jointly manage the casual dining restaurants to be operated by Camo Café & Bar.
