Kimly said Friday it has completed the acquisition of the coffeeshop property at 143 Teck Whye Lane #01-243 in Singapore for S$14 million, and plans major enhancement works.
The enhancement works will include introducing new third-party food stalls, opening Dim Sum an Drinks stalls and tying up with NTUC FoodFare to operate a Mixed Vegetable Rice stall under the Rice Garden brand, Kimly said in a filing to SGX.
NTUC FoodFare launched Rice Garden as a social outreach program in 2009 to provide affordable meals, the filing said.
The coffeeshop is expected to reopen by end-November, Kimly said.
Kimly added that it has completed the upgrading works at its coffeeshop located at Pioneer MRT station, increasing seating capacity by 10 percent and adding a new third-party food stall, Yong Tau Foo by Gao Ji, a local heritage brand.
Two new coffeeshops are set to open this month, with another two to open in December, bringing the total food outlets operated by Kimly to 72, and the number of food stalls in its food retail division to 135, the filing said.