Jumbo Group Limited entered into another franchise agreement with Ho Sing Food Co., Ltd pursuant to which Ho Sing shall establish and operate Ng Ah Sio Bak Kut Teh outlets in Taiwan.
The Franchise Agreement has an initial term of 10 years and may be renewed for a further 10 years subject to certain conditions to be determined by the Franchisor. Ho Sing has also committed to open at least 20 Ng Ah Sio Bak Kut Teh outlets in Taiwan.
The first Ng Ah Sio Bak Kut Teh outlet in Taiwan is located at the Shin Kong Mitsukoshi (Xin Yi) Mall, Taipei City.
The Group established franchises in Vietnam, Taiwan and Thailand in 2016, 2017 and 2018 respectively.
The Ng Ah Sio Bak Kut Teh outlet in Taiwan will mark the Group's first franchise of the Ng Ah Sio Bak Kut Teh brand. With these recent forays, the Group continues to expand and strengthen its presence in Asia.