SINGAPORE – Winding-up petitions have been filed against PappaRich Group Sdn Bhd, which runs a chain of namesake restaurants serving Malaysian cuisine.
When contacted by The Straits Times, a spokesman for PappaRich Singapore said that business at its seven outlets here “will continue as per usual”, and that operations will not be affected by petitions filed against the Malaysian company.
There are about 125 PappaRich restaurants worldwide. Apart from 64 outlets in Malaysia and the seven in Singapore, the chain has restaurants in Australia, New Zealand, Indonesia, Taiwan, Hong Kong, Brunei, South Korea, China and the United States.
PappaRich Group Sdn Bhd is a joint venture partner of Singapore-listed ST Group Food Industries, in connection with ST Group Food’s indirect subsidiary PappaRich Australia.
ST Group Food holds 50 per cent of the equity interest in PappaRich Australia, with PappaRich Group Sdn Bhd holding a 40-per cent stake and investment holding firm Agathisfour Sdn Bhd having the remaining 10 per cent.
The petitions against PappaRich Group Sdn Bhd were filed by Chen Khai Voon and Agathisfour in the High Court of Malaya on May 15 and May 22, respectively. They are due to be heard on Sept 21 and Nov 3 respectively.
ST Group Food, which does not operate the PappaRich restaurants in Singapore but has 29 outlets in Australia and five in New Zealand, said it does not expect the petitions to have any impact on its business and operations. “Our group will continue to hold the exclusive rights to the PappaRich brand in Australia and New Zealand,” it said.
The Australian-based food and beverage group has other international brands such as Gong Cha, Ne Ne Chicken, Hokkaido Baked Cheese Tart, Ippudo, IDarts and Go Noodle House.
ST Group Food said it will provide further updates to its shareholders and potential investors when there are material developments.
The company’s shares closed down 1.4 cents or 12.3 per cent to 10 cents on Thursday.
“Source:[Winding-up petitions filed against PappaRich restaurant group in Malaysia] © Singapore Press Holdings Limited. Permission required for reproduction”
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