Caught up with Andrew Tjioe, Chairman of Tung Lok, at a wedding over the weekend. He mentioned that his latest concept restaurant Duckland, which serves a mix of Chinese and Western duck dishes, just opened for business in United Square. Go check it out!

While there are certainly many good places to eat in Singapore, I find it hard pressed to find a good listed restaurant to invest in. There are some inherent challenges like high rental and staff costs. Chefs are also infamously difficult to manage. Valuations are not attractive, with a few of them recording losses or marginal profits.

Incidentally, there is a front page article on Business Times which spells out the difficulties Thai-listed Minor International faced after buying over Thai Express back in 2008. Co-founder of Thai Express Dellen Soh had to be recalled to shake things up.

$Tung Lok Rest(540.SI)

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hi Terence, agree with you on the valuations for f&b operators. that said, any idea why tung lok continues to make losses although it has a nice branding to go with.


Reply to @Smallcapasia : Hit by the typical confluence of negative factors - competition, high operating costs and changing consumer tastes.


Reply to @bostonlee : Nope. london fat duck is run by akashi group, which has its roots in Tanglin Shopping Centre.

Duckland is a new concept by Tung Lok. Here's a review:

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how is the review by NEA...the recent food poisoning?
any update?


Reply to @Terence_Wong : Wow where is the dinner location? I certainly wouldn't mind paying as long as there is good food!

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