|Bid||0.2050 x 0|
|Ask||0.4800 x 0|
|Day's range||0.4100 - 0.4800|
|52-week range||0.3800 - 0.6250|
|Beta (3Y monthly)||N/A|
|PE ratio (TTM)||20.43|
|Forward dividend & yield||N/A (N/A)|
|1y target est||0.64|
SINGAPORE (Mar 15): Catering company Neo Group is moving from its headquarters from Enterprise Road to 30B Quality Road at Jurong, where the group intends to construct a high-tech catering hub and integrated facility spanning 300,000 sq ft and 10 storeys high. The facility broke ground today, and is scheduled for completion in 4Q20.In a press release on Friday, Neo Group says its upcoming high-tech catering hub will be the first of its kind in Singapore as the group consolidates its operations to “serve as a vital nerve centre to accelerate the group’s future expansion”.It will also be one of the first catering cubs to offer dining facilities for social events for up to over 500 guests.When completed, the facility will house Neo Group’s corporate office; a research and development (R&D) centre where experts and nutritionists focus on the product development of healthy menus; the central kitchens of the group’s various food business segments; and warehousing facilities, with a target towards full automation.With a resultant fivefold increase in capacity and the consolidation the central kitchens, Neo Group will now be able to serve a total of 250,000 meals per day.The hub will also feature co-working kitchen and office spaces for Neo Group’s partners to lease on a flexi-rental basis – a solution which the group says will help to grow its recurring income stream, while serving as a cost reduction stream to other businesses.“The building of this new high-tech growth platform will be our engine of growth, accelerating our next phase of expansion through technology innovation and adoption, as we move towards full automation. This will enable us to aggressively expand market share and capture different consumer segments,” says Neo Kah Kiat, Neo Group’s founding CEO and chairman.“This integrated facility will provide the group with significant cost savings as we consolidate our central kitchens, offices, warehouses, logistics and storage facilities and other F&B operations in one location. The improvements in operational efficiencies through the use of automation will boost our production levels, and at the same time, substantially reduce demand for manpower,” he adds.Shares in Neo Group were trading flat at 42 cents prior to the midday trading break.
As we gather with our friends and relatives during this Chinese New Year festive period, food catering tends to be the more convenient option to satisfy our appetite for a large group of people. At the corporate side, companies especially those that are more immersed in the Chinese culture, would also arrange to treat its employees to a feast to mark the beginning of a new year. This was often accompany by a “lo hei” ceremony, also tossing of Cantonese-style raw fish salad, in the belief of bringing in prosperity and good luck for the new year.