Cafe de CoralA Group ; SEHK: A 0341 ) A is a fast nutrient eating house group which owns and operates fast nutrient ironss and forte eating houses including Cafe de Coral Dai Bai Dang which operated in USA, New Asia Dabao ( ?-°a?za¤§a?… ) , The Spaghetti House A ME.N.U. , Spaghetti 360A° , Manchu WOK ( which operated in USA and Canada, A Bravo lupus erythematosus Cafe , Oliver ‘s Super Sandwiches A Espressamente illy, Bistro M, Ah Yee Leng Tong ( e??a??e?s??? ) and Super Super Congee and Noodles ( a?ˆc??e?µ ) . The group besides has institutional providing concern every bit good as school catering. Asia Pacific Catering ( ??›a?ze??e?Y ) eating houses can be found in infirmaries, universities, authorities edifices and container terminuss. Luncheon Star ( ??»aS›a??e¤? ) is the trade name name in school catering concern. Besides eating houses, it has its ain nutrient processing and distribution concern – Scanfoods ( a?-??a?‹es›e?Ya“? ) and Denny ‘s bakeshop. It presently has more than 15,000 employees. Founded in 1968, the Cafe de Coral group opened its first Cafe de Coral eating house in theA Sugar Street, Causeway BayA territory ofA Hong Kong in 1969. Since so, the group has grown to run over 584 separate mercantile establishments across its trade names all over the universe. Cafe de Coral group is the largest publically listed Chinese Fast Food eating house group in Hong Kong and in the universe. In Hong Kong entirely, the Cafe de Coral concatenation caters to over 300,000 people on an mean day.A
Establishing and early development
The Cafe de Coral Group was originally incorporated in 1968, but it would non be seen on the street until September 1969 when it opened its first Cafe de Coral eating house inA Sugar Street, Causeway Bay.A The concatenation bit by bit expanded over the following decennary and went on air in late 1977 when it promoted its eating houses through Television commercials. The ill-famed slogan of “ A Hundred Points of Excellence ” is good known since so. In 1979, Cafe de Coral established its first nutrient processing works in Hong Kong, a move normally taken to take down costs and to guarantee consistency.A A In 1981, it introduced the first Cafe de Coral fast nutrient eating house into public lodging estate. In 1986, the Cafe de Coral Group eventually went public, and in 1988, it hit a major milepost by opening up its fiftieth Cafe de Coral eating house. The old ages after this would be marked by variegation when it operated different eating houses other than Chinese speedy nutrient.
Acquisitions, Expansion and Integration
In May 1990, Cafe de Coral made its first acquisition by purchasing out theA Ah Yee Leng TongA concatenation for HK $ 14 million.A A It set up the first instruction institutional catering at the Hong Kong Polytechnic University in late 1990. A twelvemonth subsequently in 1991, it acquiredA The Spaghetti House, a popular concatenation that served Hong Kong manner Italian nutrient. At the same clip, a full graduated table cybernation of eating house concatenation and headquarter began to function the group. The same twelvemonth, it opened up its 2nd nutrient processing works which occupied 120,000 square pess. The group had its self-owned headquarter. Redomicilation of company to Bermuda was completed in 1991, due to the uncertainness of handover of Hong Kong to China in 1997.
1992 was another milepost twelvemonth for Cafe de Coral when it opened both its hundredth eating house every bit good as its first eating house outside Hong Kong in the nearby metropolis ofA Shenzhen, China. Its largest syndicated loan in early 90s of HK $ 300 million was arranged in 1993 to fund the enlargement of the group. The first medical Institutional Catering in the Queen Mary Hospital was set up in 1994.
The first nutrient processing works outside Hong Kong was established in Guangzhou in late 1994. The first Southeast Asia eating house – The Spaghetti House was franchised in Indonesia in 1995. In order to further spread out the concern, a HK $ 200 million Revolving Credit Facility was raised in 1996.
In 1997, Cafe de Coral opened up its first Bravo lupus erythematosus Cafe eating house and that same twelvemonth, it acquiredA Scanfoods, a jambon processing and nutrient distribution concern in Hong Kong and China. The institutional catering concern was officially renamed to Asia Pacific providing Corporation Limited in 1998. A arrangement of 40 million portions to US and European institutional investors in 1998 fueled the booming of concern.
In 1999, it started yet another eating house concatenation calledA Super Super Congee & A ; Noodle, functioning popular local nutrient jook and noodle. It launched the school catering concern under the stigmatization of “ Luncheon Star ” in mid 1999.
Cafe de Coral was non finished with its tendency of acquisitions, and in 2000, it acquiredA Denny ‘s Bakery, a bakeshop fabrication and distribution concern in Hong Kong. That same twelvemonth, it acquiredA Manchu WOK, based in Ontario, Canada from Dr. Jack Lew, a North American Chinese fast nutrient concatenation that had a strong presence in Canada and the United States.
In the old ages following, Cafe de Coral besides acquiredA China Inn, a regional Chinese eating house concatenation in California, U.S.A. in 2002, A New Asia Dabao, the largest Chinese speedy service eating house in Shanghai, China, andA Oliver ‘s Super Sandwiches, a alone niche speedy service eating house concatenation in Hong Kong ; both in 2003. An agreement of a syndicated loan of HK $ 200 million is made in the same twelvemonth. More portions of Manchu Wok were acquired in 2005.
Present twenty-four hours and hereafter planning
In 2006, Cafe de Coral began turn overing out its “ 4th coevals construct ” across all of its locations, efficaciously restituting many eating houses to convey them up to modern standards.A A In the twelvemonth of 2007, Cafe de Coral made a strategic investing in theA Tao Heung Group ( SEHK: 0573 ) , a smaller eating house group that operates 11 trade names all overA ChinaA and Hong Kong.
Two new eating house trade names, viz. , ME.N.U ( has the significance of me and you ) and Spaghetti 360A° were launched in 2008 to run into the increasing demand for insouciant dining. The successful launch of the premium “ illy ” java trade name to the full concatenation of Oliver ‘s Super Sandwiches resulted in the formation of a joint-venture to franchise “ Espressamente illy ” .
Despite the hapless economic state of affairs after the fiscal tsunami in 2008, Cafe de Coral had been able to accomplish encouraging consequence. The group is processing towards the one 1000 runing units mark by 2014 under the 5 old ages program.
Cafe de Coral ( a¤§a®¶??‚ )
As the market leader, Cafe de CoralA is a fast nutrient franchise based inA Hong KongA owned by the Cafe de CoralA group. It is a fast nutrient eating house concatenation that serves both Chinese and Western nutrient at a budget monetary value. A The concatenation is one of the largest and most popular fast nutrient ironss in Hong Kong with more than 140 eating houses in operation ( as of 31st March 2009 ) . Six new shops will be unfastened in financial twelvemonth of 2009/2010. It is the flagship of Cafe de Coral group. It was established in 1968 and today caters to more than 300,000 people ( 4.3 % of Hong Kong ‘s population! ) on an mean twenty-four hours.
The fast nutrient is typically Chinese dishes and barbecue cookery with some Western 1s. They are really concerned about the quality of nutrient and nutrient safety is the first precedence. Combined with other nutrient safety and hygiene steps including austere guidelines on cookery and nutrient storage, their all-around control ensures optimum nutrient hygiene on par with the rigorous company standard.A In order to supply the delightful nutrient, ingredients are imported from across the universe. Under the competition, the company has invariably creativeness and invention to run into the altering demands of clients. The eating house merely offers breakfast during the forenoon from 7am to 11am, tiffin during the midday hours from 11am to 2pm, tea clip repasts during the afternoon from 2pm to 5:30pm and dinners during the dark from 5:30pm until shuting hours of the eating house. As the twenty-four hours advancement, its bill of fare alterations 3 times to reflect the appropriate repasts being sold at that given clip of the twenty-four hours. In other words, client is non able to order breakfast repasts during dinner clip.
As an environmental friendly corporation, all home bases, cups, and bowls are made fromA cyanuramide resinA as they are all washed and reused. The exclusion is the subdivisions in theA Hong Kong International Airport which provide merely disposable utensils. Started from July 2007, all subdivisions ceased utilizing straw and chopstick jackets. Individual subdivisions besides started implementing their ain H2O and power economy steps. Furthermore, all subdivisions have partnered with accredited used oil processing workss in roll uping and treating cooked oil and fat. Some subdivisions have even joined the oil refinement strategy to assist turn toxic waste oil into utile, environmental-friendly bio-fuel. Air pollution can hence be farther reduced. Cafe de Coral besides actively participates in societal public assistance and charitable activities for the needy in order to carry through our company mission of going a socially responsible endeavor.
Cafe de Coral has established the “ Cafe de Coral Management Academy ” as its preparation central office. The institute organizes regular preparation activities for employees to beef up their accomplishments and set squad spirit into pattern. To hike overall public presentation in footings of operation, Cafe de Coral provides kitchen staff and chefs on all degrees with on-the-job professional preparation to heighten their cognition of nutrient direction. They besides review the service attitudes and public presentation of staff through an nonsubjective “ enigma shoppers ” plan. This pattern helps heighten the quality of their services.A
The eating house operates in all urban, rural and town countries of Hong Kong. In the busy commercial territories, there might be three to four in an country. It is easy to happen Cafe de Coral in most major shopping promenades, concern edifices, and general busy intersections. InA new towns such as Ma On Shan, Tin Shui Wai, Tseung Kwan O and Tung Chung, subdivisions frequently opened in majorA shopping Centres, including those ofA public lodging estates. In Mainland China, Cafe de Coral has spread to Macau, A Shanghai, Dongguan, A Zhongshan, Panyu, Shunde, Guangzhou, A Zhuhai, A Shenzhen, A Jiangmen, A Foshan, and is rapidly traveling to other metropoliss. There are 62 eating houses in southern China.
Most Cafe de Coral eating houses operate between 7a.m. and 10p.m. The eating houses in theA Hong Kong International AirportA are the lone subdivisions which operate for 24 hours in Hong Kong.
In February 2006, it announced that it would pass about HK $ 100 million in presenting its new fourth coevals design of its eating houses. This would restitute its eating houses to includeA plasma telecastings, LED shows for nutrient pickup orders, chromatic mirrors, and Italian marble and leather upholstery. Over HK $ 35 million will be invested in the financial twelvemonth of 2009/2010 to restitute 12 Cafe de Coral shops to offer a fashionable and comfy dining environment to the clients and put new industry criterions for dining experiences.
Website in Hong Kong: hypertext transfer protocol: //www.cafedecoralfastfood.com/
Cafe de Coral has attained “ true international stature with the group ‘s eating houses ramifying out into abroad and the larger China market ” . The first offshore Cafe de Coral subdivision has been formed in Macau since 1992. Other subdivisions are successfully established in the southern metropoliss of Mainland China every bit good as in Guangzhou.
The merchandise placement of Cafe de Coral in Mainland China rests chiefly in the up-market bill of fare scope of sizzling steak and spring poulet dinner sets which appeal to the prestigiousness driven local penchant for an up-market western eating house experience.
The development of Cafe de Coral in Mainland China is concentrated chiefly in the rich Kwangtung states. Branchs are distributed at major particular economic zones and coastal metropoliss of Shenzhen, Zhuhai and Guangzhou, and regional town Centres of Foshan and Jiangmen.
Cafe de Coral ( China ) has a entire staff figure around one 1000, of which 96 per centum is local staff from Mainland China. Potential local staffs with outstanding public presentation have the chance to go to preparation at Cafe de Coral Management Academy to take up managerial places. Cafe de Coral has become the synonymity of quality eating house direction in China. Cafe de Coral has long been a family name among the Chinese population given its Hong Kong telecasting advertizements are good covered throughout the southern China states. As such, any new merchandise launch or premium salvation has ever become an instant success.
Cafe de Coral has developed an amicable working relationship with the local China authorities functionaries. The adoptive manner of co-operative joint venture and entirely foreign-owned endeavor has provided the group the necessary direction freedom and entire direction control needed for restaurant operations in China. Owing to the uprising Chinese economic system, it is portion of the group ‘s strategic program to steadily develop the China market to tap the huge potency which this market can offer.
Website in China: hypertext transfer protocol: //www.cafedecoralcn.com/
The Spaghetti House ( ?„?c?‰a±‹ ) A
As a pasta expert, The Spaghetti HouseA is a forte eating house concatenation that serves Hong Kong-style Italian culinary art and is positioned as a mid-market concatenation that is household and tourer friendly. Established in 1979 by an Australian and a British, The Spaghetti House which is the largest pasta eating house concatenation in Hong Kong operates 26 mercantile establishments in Hong KongA and 6 locations in SouthernA China. The Spaghetti House is good known among the local roof of the mouth for its broad assortment of merchandises runing from the ever-popular pizza, spaghetti, salads, rice and bites to the locally adapted European rice home base every bit good as the more sophisticated dish of fondue and lobsters. One of the competitory advantages is the full featured bill of fare which has more than 100 menu points. Furthermore, there is a broad assortment of pasta, macaroni, fusilli, lasagne, gnocchi, spatzle and spaghetti to take from. The extended Spaghetti House ‘s web covers the tourer and shopping territories, particularly in Mongkok and Causeway Bay country. Each of the restaurant mercantile establishments is instilled with an imported image of a European insouciant dining eating house, designed to the highest standard making a cozy, comfy, upmarket and friendly atmosphere good liked by tourers and local people. With the of all time increasing figure of subdivisions, interior design having The Spaghetti House ‘s traditional sketch images and tiffany lamps every bit good as the external ornament is invariably upgraded to supply the most comfy atmosphere for dining.
Web site: hypertext transfer protocol: //www.spaghettihouse.com/
Oliver ‘s Super Sandwiches ( a?©e??e¶…c?sa?‰?-‡??» )
Oliver ‘s Super Sandwiches was established since 1987 and is considered as the market leader in the niche market of sandwich forte eating houses. It has been evolved from a crude “ bite saloon ” to more than 18 subdivisions located in assorted premier locations in Hong Kong SAR, together with 8 franchised subdivisions in the Philippines. Over the old ages, it has built up enormous client trueness and good will ( the viridity logo means wellness nutrient ) on its well-established stigmatization power. Oliver ‘s Super Sandwiches has been good positioned as a fast insouciant eating house concatenation offering a clean and healthy life style in dining with a broad scope of wholesome merchandise pick from divine sandwiches with different sorts of fillings such as Cajun Chicken, Roasted Beef, Smoked Salmon, Cheddar Cheese, Avocado, and Mozzarella Cheese to alluring baked murphies, pastas and newly made salads.
Following the acquisition by Cafe de Coral Group in June 2003, the already ill-famed Oliver ‘s Super Sandwiches has been repositioned with a cardinal greening on its trade name construct. This alteration represents Oliver ‘s Super Sandwiches ‘ new epoch of widening its client profile and edifice trade name trueness as presenting its series of customer-focused committednesss by strengthening an full dining experience in a welcoming and warm environment.
Oliver ‘s Super Sandwiches operates as a alone speedy service eating house offering extremely recognized “ made-to-order ” sandwiches and salads, together with an miscellaneous choice of hot nutrient such as adust murphies, pasta, bolognaise, cheese, Burger, toast and soup. Through strong local research & A ; development, Oliver ‘s is invariably presenting new merchandises and spirits in the sphere of vegetarian and calorie-controlled diets every bit good as meat-lovers.
Oliver ‘s Super Sandwiches ‘ slogan “ Fresh Attitude, Your Manner! ” introduces the images of freshest and healthiest picks catered entirely for single gustatory sensation and penchants. The mission is to fulfill their clients “ in what they eat, in where they eat ” as such that we would make it their ways. The selling proposition predicates on the image of being a wellness, fresh, organic, personal, caring, friendly and fashionable trade name.
Having over 1000s combinations of sandwiches with enormous picks of sandwich staff of lifes such as whole wheat, crescent roll and toastie, fillings, condiments or toppings and sauces, Oliver ‘s Super Sandwiches offers a broad spectrum of sandwiches, baked murphies, pastas and salads, together with soups, bites, sweets and assorted drinks.
Oliver ‘s provides a free forum and clean environment for basking infinite, line, signifier, fresh, light, color and texture furthering a spirit of relaxation, unfastened attitudes and interpersonal connexions for its clients.
Oliver ‘s Super Sandwiches ‘ primary clients are universities ‘ pupils, white-collar category, office executives, aliens who live in Hong Kong, professionals, exiles and wellness witting persons with a in-between category socio-economic position.
Oliver ‘s Super Sandwiches is the innovator and market leader to make a niche of sandwich forte eating houses in the market place, which is unambiguously positioned as a fast insouciant and wellness eating house concatenation fostering healthy life style in dining.
Oliver ‘s Super Sandwiches is eager to project, reenforce and make its image of “ fresh, personal, caring, friendly and fashionable ” as its nucleus trade name perceptual experience to the clients. These five elements serve as the cardinal drivers for alining schemes in diverse facets such as merchandises, service, publicities and atmosphere.
Through merchandises invention, store redevelopment and uninterrupted trade name greening, significant foundation of franchise coaction platform is besides built through the abroad franchisees in The Philippines, which open up potencies in the other parts of the part while other countries are ever welcome to fall in.
Web site: hypertext transfer protocol: //www.olivers-supersandwiches.com/
Ah Yee Leng Tong ( e??a??e?s??? )
Having a long bill of fare of a la carte Cantonese dishes, Ah Yee Leng Tong is a forte eating house concatenation that serves broad scope of home-style Chinese soup every bit good as a assortment of regional Chinese dishes. It is besides known for itsA XO sauce, which is a spicyA seafoodA sauce. The celebrated sauce is made of approximately chopped dried seafood, such asA crenation, dried fish andA dried shrimpA that have been cooked with fresh redA chili, A diced onion, A minced garlicA andA rapeseed oil. Its eating houses, which average 300 square metres, fuse both traditional and modern trappingss and entreaty to both tourers and locals. It used to hold several subdivisions in different countries in Hong Kong. After old ages, there is merely one eating house at theA Hong Kong International Airport.
Web site: hypertext transfer protocol: //www.ahyeelengtong.com/
Located at Amoy Gardens, Ngau Tau Kok in Hong Kong, ME.N.U is a trade name new eating house which provides nice Chinese and Western fast nutrient at low-cost monetary value. Since its gap in 2008, it became popular among immature clients.
Bravo le Cafe
Bravo lupus erythematosus Cafe is a premium speedy service eating house concatenation that serves a mix of Western, Chinese, and Nipponese nutrient from noodles, culinary art to flip green salad and sandwiches in a bistro puting designed to appeal to “ immature and upwards nomadic executives. “ A A It aims to supply an efficient, relaxed and insouciant dining experience. Pricing is positioned with a little premium to reflect consumers ‘ psychographics ‘ demand. There are presently three locations of Bravo le Cafe , one in theA International Finance Centre, one inA Central territory, and one at theA Hong Kong International Airport.
Web site: hypertext transfer protocol: //www.bravocafe.com.hk
Super Super Congee & A ; Noodles ( a?ˆc??e?µ )
As one of the earliest construct shops besides Cafe de Coral, Super Super Congee & A ; Noodles is a successful fast nutrient concatenation servingA congeeA and assorted noodle dishes as its name suggests. As of today, there are more than 17 locations across Hong Kong including in Kwai Fong, Chai Wan, Tseung Kwan O, Shatin, Wong Tai Sin and Tsing Yi, which is the fastest turning trade name locally in the group.
New Asia Dabao ( ?-°a?za¤§a?… )
New Asia Dabao has approximately 80 mercantile establishments in Shanghai country of eastern China. It is now operated by a sino-foreign joint venture, Cafe de New Asia Group Co. , Limited ( 25 % ) , which is formed by Cafe de Coral Holdings Limited and Shanghai New Asia ( Group ) Co. , Limited ( 75 % ) . New Asia Dabao, as depicted in its name, specializes in popular Chinese dumplings and buttockss. Wide assortments of Chinese breakfast points, soy bean milk, bites, and noodles, are besides served to run into different clients ‘ roof of the mouth in different sections of the twenty-four hours. New Asia Dabao has built a ample platform of eating house web in Shanghai, perforating both the commercial countries and residential vicinity, offering insouciant dining and convenient catering services to the community at big. With over 2,500 good trained and experience staff locally, New Asia Dabao provides efficient and effectual catering services of quality Chinese promptly nutrient to the Shanghai populace.
Related web site: hypertext transfer protocol: //www.ddmap.com/map/chain-4521- % D0 % C2 % D1 % C7 % B4 % F3 % B0 % FC.htm
Spaghetti 360A° , a new eating house trade name and a new image, was rolled out in the twelvemonth with the purpose to make full the market niche in the mid-priced forte eating house sector. With a stylish, immature, fresh and voguish image, Spaghetti 360A° achieved singular consequences shortly after its first gap in late 2008. As of 31st March, 2009, there were two mercantile establishments under this trade name, situated at in-between category community – Shatin and tourer country – The Peak severally.
Dai Bai Dang
Dai Bai Dang is a insouciant, alfresco Asiatic dining eating house located in Fresno, California. The take-out order bill of fare can be downloaded from their web page.
Web site: hypertext transfer protocol: //www.daibaidang.com/
Manchu WOK ( ?»????e‘S )
Manchu WOKA is a Chinese fast nutrient national concatenation offering systematically high quality Chinese culinary art in a fast nutrient environment in theA USAA andA Canada, similar in construct toA another giant concatenation Panda Express. The concatenation focused on opening eating houses in high traffic locations such as regional shopping Centres and high-density office composites. Despite the name, the bill of fare does non have any dishes from traditional Manchurian Cuisine and alternatively is largely made up ofA American Chinese cuisineA andA Canadian Chinese culinary art. The first shop was opened byA a Hong KongA immigrant Dr. Jack Lew in 1980 with the first location inA Peterborough, Ontario, A Canada. The 200 shop concatenation in 35 provinces and 8 states operates chiefly in mall locations. In order to spread out its concern, some of the shops are located at the airdromes and universities. It is owned byA Hong KongA based Cafe de Coral Holdings Ltd since 1989. In 2003 and 2004, it expanded its operations to San Rita, A GuamA andA Naha, Okinawa inA Japan. It besides has location on aA U.S. ArmyA fort inA Yongsan, Korea, A every bit good as a location at the KMCC Food Court on theA US Ramstein Air Base in German.
Web site: hypertext transfer protocol: //www.manchuwok.com/
Asia Pacific Catering ( ??›a?ze??e?Y )
Asia Pacific Catering was set up in 1990 targeted for contractual catering clients such as universities, infirmaries, container terminuss, authorities, public and private establishments. This marks a strategic incursion into a market sector, which requires a well-managed, efficient, flexible, dynamic, committed, and resourceful catering operator. The range of the concern has hitherto expanded from its initial patronage of major universities and authorities establishments to embrace the hygiene-conscious medical infirmaries, public and private companies as good. Depending on the graduated table of the establishment, they manage a spectrum of providing constructs in assorted establishments runing from cafeterias, staff and pupil canteens, full-service western eating houses, Chinese epicure eating houses, every bit good as java store, coat stores and bite bars. Full scope of Chinese culinary art and western dishes are offered together with function-catering tailor-made to our clients ‘ specification. Asia Pacific Catering besides provides consultancy service in planing suited catering construct for its clients. These include kitchen equipment layout, ornament of dining country and seating agreement. All lead to a entire client satisfaction trusting on its experience in the topographic point. Their direction has strong resonance with the establishment. Close affair and meetings are carried out on a regular footing affecting our top direction all the manner down to floor directors and runing staffs in order to interchange positions on bill of fare and services for the intent of uninterrupted betterment.
Web site: hypertext transfer protocol: //www.apcfh.com/
Luncheon Star ( ??»aS›a??e¤? )
Luncheon Star was established under Asia Pacific Catering in 1999 to supply door-to-door tiffin bringing service to primary and secondary pupils in Hong Kong. Since the execution of whole twenty-four hours school, it is one of the major school tiffin suppliers in the market place. All schools, pupils and parents are appreciative of this service, for its nutritionary value, environmental friendly packaging, and value for money. All merchandises are manufactured by Luncheon Stars ‘ self-owned fabrication works in Shatin, using through cook-chill engineering. For guaranting all merchandises are in the best hygiene and safety status, they are sealed, and packed with environmental friendly packaging with reclaimable utensils. Merchandise assortments are in broad spectrum of Chinese and western bill of fare appealing to pupils of different ages in primary and secondary schools. Luncheon Star provides each school a service squad of 2 to 3 members to function its pupils. All squad members are good trained and professional. They take care all processs from bringing of nutrient to schoolroom cleaning up. Their service squad is ranked among the highest quality in the market. In extra to the multi-million dollar cardinal production installation, satellite service centres with GPS on trucks are set up to function its clients in local country for guaranting fast and on clip service. Luncheon Star ‘s school clients are now distributed in all countries in Hong Kong, Kowloon and New Territories. Parents and pupils can pay the tiffin fees at any convenient shops without excess charge 24 hours a twenty-four hours every bit good as through PPS online. For guaranting the safety criterion and quality direction, Luncheon Star has achieved Hazard Analysis and Critical Control Point ( HACCP ) certification and ISO 9001 in June 2001. Furthermore, it was the first nutrient production mill in Hong Kong which earned the ISO 22000 in 2007. HACCP, ISO 22000 and ISO 9001 are the highest international recognized criterions on nutrient safety and quality direction. They made Luncheon Star be the first HACCP, ISO 22000 and ISO 9001 certified school tiffin supplier in the industry.
hypertext transfer protocol: //www.luncheonstar.com.hk/
A trade name new fast-casual eating house Fan Ting was launched in May 2002 as a pilot-run in Ventura, California, siting on a cook-to-order construct. Since its gap, the eating house has been executing really good within direction ‘s outlook, and extremely popular among the locals. The direction expects that there is farther room to turn over out this speedy service eating house construct in assorted parts in North America, particularly in California.
Scanfoods ( a?-??a?‹es›e?Ya“? )
Scanfoods is chiefly engaged in the production, distribution and merchandising of jambon, frozen meat, dim-sum, canned nutrient and sausage merchandises in Hong Kong and mainland China under the “ Viking Boat ” trade names. It is a 1 of taking jambon and sausage providers in Hong Kong, histories for important market portion of the domestic processed meat market. For guaranting the safety criterion and quality direction, Scanfoods has achieved ISO 9001:2000 in 2000. The ISO 9001:2000 is international recognized criterion in quality direction. It makes Scanfoods ‘ jambon and sausage merchandise being the best quality merchandise in the market by obtaining the HACCP in 2002. Scanfoods owns a 10 acre production base in Dongguan, Guangdong in China ; with over 40,000 square pess of mill premises, equipped with the most advanced equipments and imported engineerings. Scanfoods ‘ client base distributed throughout Guangdong Province in China and Hong Kong. Major supermarket ironss, large and little eating houses and hotels in China are its major clients. An efficient and turning gross revenues squad in Hong Kong and China supports these big and quickly increasing markets.
Web site: hypertext transfer protocol: //www.scanfoods.com.hk/
Denny ‘s Bakery
The acquisition ofA Denny ‘s BakeryA in twelvemonth 2000 led the Group towards farther upstream integrating into the nutrient fabrication and distribution concern in the Greater China part. Denny ‘s staff of life is one of the most popular trade names sold in Hong Kong ‘s supermarkets.
During 1st one-fourth of financial twelvemonth 2009/2010, Hong Kong accounted for 84 % of Cafe de Coral ‘s entire gross, registering a mere 0.3 % twelvemonth over twelvemonth growing to $ 1,998 1000000s as same-store gross revenues growing was level owing to the negative impact of the swine grippe eruption. However, direction believes gross growing will markedly better in 4th one-fourth of financial twelvemonth 2009/2010. Cafe de Coral presently operates 271 mercantile establishments in Hong Kong – 182 speedy service eating houses, 59 institutional catering installations and 30 forte eating houses. In order to capture a greater portion of the mass providing market, Cafe de Coral opened seven Super Super Congee & A ; Noodles mercantile establishments in 1st one-fourth financial twelvemonth 2009/2010, conveying the sum to 17.
Elsewhere, gross from the mainland increased 26 % twelvemonth over twelvemonth to $ 348 1000000s, with section net income mounting 21 % twelvemonth over twelvemonth to $ 27 1000000s. Scanfoods, a processor and distributer of jambon and sausage merchandises, benefited from the autumn in meat monetary values and contributed a net income of about $ 10 1000000s. The mainland mercantile establishments recorded a negative same-store gross revenues growing of 6 % , reflecting the economic sufferings in fabricating parts such as Dongguan and Foshan. At the terminal of 1st one-fourth of financial twelvemonth 2009/2010, the company had 69 Cafe de Coral, 12 Asia Catering and six Spaghetti House locations on the mainland. Meanwhile, North American concern continued to better and near a breakeven with a little loss of $ 1m, which was merely attributed to amortisation of hallmark and franchise rights. After the closing of 13 shops, the company operated 169 mercantile establishments in North America – 93 in the US and 76 in Canada.
Increasing capacity for future enlargement and designed to heighten efficiency and productiveness, two new food-processing workss in Hong Kong and the mainland are under building with completion expected in 2011 and 2012, severally. On the retail forepart, 30 shops are expected to be unfastened within Financial Year 2010 ; 15 each in Hong Kong and the mainland, which will subvention gross growing in front. However, the company ‘s profitableness will stay most vulnerable to lifting lease and nutrient costs. Our mark monetary value of $ 18.54 is based on an undemanding forward FY10 P/E of 20.6x or a PEG of 1.5x, based on our projected EPS CAGR of 14 % for FY09-11.
Cafe de Coral group is hard currency rich. Its hard currency place remained strong over the past few old ages. It has zero in debt and around HK $ 700 to 800 million in hard currency. That is approximately 2 to 3 times of mean capital disbursals per twelvemonth over the past few financial periods. It has the ability to get other possible concern in the hereafter.
One of the major advantages over other rivals is the big figure of subdivisions in mainland China. Cafe de Coral has 68 operating subdivisions in southern China including in Macau and Guangdong state. The other six of them are located in Shanghai. Furthermore, the Cafe de Coral used to hold 50 % portions of New Asia Dabao, the largest eating house concatenation in Shanghai municipal.
It sold 25 % portions of this joint-venture to Jinjiang Hotels ( SEHK: 2006 ) in February 2009 to interchange the complete direction control and ownership of the operating assets associating to the six Cafe de Coral eating houses in Shanghai. The restructuring allows the direction squad to concentrate on developing the Cafe de Coral trade name in the mid-priced fast insouciant dining section in this part. The direction is confident that with the experience accumulated over the old ages, their direction squad will be able to successfully run the Cafe de Coral trade name with benefits now to the full accruing to the Group.
The fast nutrient concern in China still has
We initiate coverage of Vitasoy, one of Hong Kong ‘s oldest drink makers with over 65 old ages in the district. The company ‘s merchandises are available under two major trade names, VITASOY, a alimentary bean curd and soy drink, and VITA, a scope of dairy milk merchandises, juice, teas, carbonated drinks and distilled H2O.
Vitasoy recorded solid 6.9 % and 1.1 % yoy growing in turnover and net net income to $ 2,693m and $ 174m, severally, in FY07 ( Y/E March ) . EBITDA surged by 3.3 % yoy or $ 11m to $ 344m. Despite the 0.8 % bead in gross net income border, Vitasoy still maintained an EBITDA border of 12.8 % thanks to stringent control of operating cost.
Vitasoy ‘s China market had the fastest turnover growing of 38.6 % yoy in FY07, followed by Australia and New Zealand at over 20 % . The company was able to keep steadily turnover growing of 3.8 % yoy in Hong Kong thanks to the debut of new value-added merchandises to broaden its client base, better export gross revenues and go on growing in the tuck store concern. However, gross revenues public presentation in North America was hindered by an unfavorable market. Vitasoy encountered a $ 49m runing loss from worse-than-expected public presentation in two merchandise lines, refrigerated sauces and salad dressing. These merchandise ranges were later discontinued.
Strong growing is expected in the fast-expanding mainland market supported by the greater richness and wellness consciousness that should make higher demand for quality merchandises, including functional drinks that promote wellness and health. The enormous growing potency of the Chinese market will necessarily pull more rivals, but this could besides hike demand. Harmonizing to direction, Vitasoy will go on with its scheme of nucleus concern ( alimentary drinks ) , core trade names ( VITASOY and VITA ) and nucleus metropoliss ( Guangzhou, Dongguan and Shenzhen ) in China to heighten its market place and corporate image as “ the soy expert ” .
The international monetary value of soya beans has surged over the last two old ages ; for illustration, the JPMorgan Soybeans Price Index has risen by 92.4 % since the start of 2007. This uptrend is non the best environment for manufacturers utilizing soya beans as a major natural stuff, and we expect Vitasoy to necessarily meet increasing cost force per unit area. We expect the natural stuff cost to go on to lift in FY08, and gauge the cost of goods sold to account for 44 % of turnover in FY08 from 42 % the old twelvemonth, and the gross net income border to worsen by 2 ppts to 56 % in FY08.
We recommend Keep on Vitasoy. Our mark monetary value of $ 3.44 is derived from our DCF theoretical account with a WACC of 8.9 % and terminal growing rate of 2 % , stand foring a FY08 forward P/E of 16.1x and a 2-year forward PEG of 0.9x.
Vitasoy has delivered a pleasing set of FY08 consequences ( Y/E: 31 March ) . Employee turnover and net net income grew by 15 % and 21 % yoy to $ 2.4b and $ 211m, severally, thanks to remarkable public presentations in both Hong Kong and overseas.
Vitasoy acquired Singapore-based soyfood manufacturer Unicurd Food in early April at a cost of $ 79m utilizing internal hard currency resources. Unicurd has captured 60 % of Singapore ‘s packaged bean curd market, and its chief merchandises include soy sweets, soya milk, tofu whiffs, noodles and pickles, which are sold domestically and exported to Europe, Asia, New Zealand, South Africa and Dubai. The acquisition non merely enables Vitasoy to heighten its presence in Singapore, but besides helps the company explore new market chances for its merchandises.
Among its assorted gross revenues markets, Vitasoy ‘s gross revenues in China had the fastest turnover growing of 59 % yoy in FY08, followed by 28 % in Australia & A ; New Zealand. The company was able to keep steady turnover growing of 5 % yoy in Hong Kong thanks to the new merchandises and spirits launched that drove demand growing, every bit good as an 18 % yoy rush in exports. Meanwhile, gross revenues in North America besides increased 8 % yoy, contracting the operating loss to $ 23m from $ 49m in FY07. Vitasoy has attempted to spread out its gross revenues channels in North America with success.
To efficaciously pull off the lifting force per unit area from natural stuff costs and heighten its bargaining power, Vitasoy adopted a centralized procurance system. Purchases are pooled globally, though orders are placed separately by state with specific providers, in order to increase dickering power. Natural stuffs are usually procured six to nine months in progress to minimise the effects of topographic point monetary value fluctuations. However, the international monetary value of soya beans has remained robust, for illustration, the JPMorgan JPMCCI Soybeans Price Index has risen by 31 % since the start of 2008, which means Vitasoy will necessarily endure, with the negative effects bit by bit reflected in FY09.
Looking frontward, we believe FY09 will be a ambitious twelvemonth for Vitasoy, as natural stuff costs are expected to go on lifting, but we remain positive on Vitasoy ‘s net incomes chances, chiefly due to the robust demand for healthy drinks in China, where Vitasoy has performed good and demonstrated singular gross revenues growing. The company ‘s aggressive market incursion and production inventions should go on to understate the negative impact of lifting natural stuff costs.
After our reappraisal of Vitasoy ‘s FY08 consequences and its concern chances, we recommend roll uping the stock with a mark monetary value of $ 4.30, stand foring an FY09 forward P/E of 18.5x and 2-year forward PEG of 1.8x.