Singapore’s Katrina Group, an F&B business specialising in multi-cuisine concepts, has taken a step toward opening So Pho restaurants in China and Hong Kong.
It has signed a non-binding memorandum of understanding with fast-casual restaurant group Ajisen (China) Holdings regarding collaboration on the restaurants. The parties will negotiate and determine if this will be through a franchise or JV, with a definitive agreement expected to be finalised within the next few months.
Ajisen China, which is listed on the mainboard of Hong Kong Stock Exchange, has a chain of restaurants under different brands in China and Hong Kong.
Katrina founder/CEO/executive chairman Alan Goh says the collaboration is a step toward the company’s aim of growing its overseas presence and diversifying its revenue stream.
Katrina Group owns and runs 33 restaurants in Singapore under nine different brands, including Bali Thai and Streats, which services streetfood-style dishes. It also has two restaurants in China.