Jumbo Group Limited said on Jul, 27 2026 that its indirect wholly owned unit, Jumbo F&B Services, has signed a joint-venture agreement with K.Grand Resources and private investor Yap Kok Kiong.

The parties will set up a Singapore-incorporated vehicle with an issued capital of 0.2 million Singapore dollars to hold the area franchise rights for the Ng Ah Sio Bak Kut Teh brand in Shanghai and, subject to agreement, other parts of mainland China.

K.Grand Resources will subscribe 0.12 million Singapore dollars for a 60% stake, while Jumbo F&B Services and Yap Kok Kiong will each take 20% for 0.04 million Singapore dollars. The new entity will be an indirect associate of Jumbo Group.

A franchise agreement between the joint venture and Jumbo Group’s wholly owned subsidiary, Jumbo Group of Restaurants, will govern the use of the brand and related intellectual property. The joint venture will initially run for ten years, or as long as the franchise agreement remains in force.

Jumbo Group said the investment will be funded through internal resources and is not expected to have a material effect on its earnings or net tangible assets for the year ending Sep, 30 2026.

No directors or substantial shareholders of the company have any interest in the transaction other than through their shareholdings in Jumbo Group.