FOOD and beverage operator YKGI has been awarded the exclusive rights to operate and manage bubble tea brand Chicha San Chen in Macau.
The company said in a bourse filing on Friday (Apr 26) that it has entered into a master franchise agreement with Fang Yuan F&B International, the franchisor of the well-known bubble tea chain that originated from Taiwan.
According to the agreement, YKGI would have the rights to operate and manage Chicha San Chen in Macau for a term of eight years, starting from Friday. The move comes after both parties entered into a non-binding overseas authorisation memorandum in September 2023.
YKGI, which also runs Yew Kee Duck Rice, has an ongoing master franchise agreement with Fang Yuan since January 2019 for the company to operate Chicha San Chen in Singapore for 10 years.
Shares of YKGI closed flat at S$0.102 on Friday.