ANNUAL REPORT 2 0 2 1
Content
02 CORPORATE PROFILE
03 OUR BUSINESSES
04 OUR NETWORK
05 MILESTONES
07 MESSAGE TO SHAREHOLDERS
17 BOARD OF DIRECTORS
19 KEY MANAGEMENT
22 FINANCIAL HIGHLIGHTS
24 FINANCIAL REVIEW
27 CORPORATE INFORMATION
This annual report has been reviewed by the Company's Sponsor, PrimePartners Corporate Finance Pte. Ltd. (the "Sponsor"). It has not been examined or approved by the Singapore Exchange Securities Trading Limited (the "Exchange") and the Exchange assumes no responsibility for the contents of this document, including the correctness of any of the statements or opinions made or reports contained in this document.
The contact person for the Sponsor is Mr. Joseph Au, 16 Collyer Quay, #10-00 Income at Raffles, Singapore 049318, sponsorship@ppcf.com. sg.
Corporate
Profile
Kimly Limited (the "Company" or "Kimly", and together with its subsidiaries, the "Group") is one of the largest traditional coffeeshop operators in Singapore with more than 30 years of experience. The Group operates and manages an extensive network of 85 food outlets under "Kimly", "foodclique" and a third party brand, 139 food stalls comprising Mixed Vegetable Rice, Teochew Porridge, Dim Sum, Seafood "Zi Char", Kanaaji Japanese Tonkatsu, two Tonkichi restaurants and seven Rive Gauche confectionery shops.
While keeping to the heritage of a traditional coffeeshop that provides affordable food for all, Kimly is also constantly modernising to keep up with the times and changing consumer trends, through digitalisation, strengthening the operations and upscaling capabilities. All its food retail products are currently available for online ordering through Deliveroo, Foodpanda, GrabFood and Oddle.
The Group continues to proactively extend its footprints and revenue streams through suitable merger and acquisition ("M & A") projects.
The Company was successfully listed on Catalist of the SGX-ST on 20 March 2017.
02 KIMLY LIMITED
Our Businesses
OUTLET MANAGEMENT DIVISION
Under our Outlet Management Division, the Group operates and manages 67 coffeeshops, and seven industrial canteens, and two food courts under the "foodclique" brand.
With our proven and established track record as a food outlet operator, we have been able to attract quality and anchor tenants with whom we have forged strong longstanding relationships. As at the date of this report, Kimly maintained a healthy occupancy rate of 98% for a total of 680 stalls within our managed food outlets.
FOOD RETAIL DIVISION
Catering to a broad and varied customer base and supported by our Central Kitchen, the Group's 139 food stalls, two Tonkichi restaurants and seven Rive Gauche confectionery shops under our Food Retail portfolio comprises:
Our Central Kitchens supply sauces, marinades, pastries and semifinished food products to our Mixed Vegetable Rice, Seafood "Zi Char", Dim Sum stalls and Rive Gauche confectionary shops.
85
FOOD OUTLETS
148
FOODSTALLS / RESTAURANTS / PATISSERIE
55
OUT OF 85 FOOD OUTLETS ARE OPEN 24 HOURS
OUTLET INVESTMENT BUSINESS DIVISION
Outlet Investment Business Division assists the group in securing sustainable and stable rights of use to strategic business locations, through investments into properties (freehold and leasehold), at the same time allows the group to benefit from rental income and/or capital growth. The Group has acquired five coffeeshops, three industrial canteen units and a restaurant unit during FY2020.
ANNUAL REPORT 2021 03
Our Network
The Group has an extensive network of 85 food outlets located across the heartlands of Singapore, with its food stalls/ restaurants/patisseries serving a variety of dishes catering to consumers' diverse preferences. 55 out of 85 food outlets are open 24 hours.
KIMLY GROUP OUTLETS
TENDERFRESH OUTLETS
* Picture for illustration purposes only.
60 28 2
MIXED VEGETABLE RICE / TEOCHEW PORRIDGESEAFOOD "ZI CHAR"TONKICHI RESTAURANTS
49 | 2 | 7 |
DIM SUM | KANAAJI KATSU JAPANESE FOOD STALLS | RIVE GAUCHE CONFECTIONERY SHOPS |
04 KIMLY LIMITED
Milestones
2017
2018
2019
2020 | 2021 |
20 MAR - Successfully listed on the Catalist Board of the SGX-ST
3 JUL - Acquisition of operating leases & business operations of Bedok 631 coffeeshop, 21 Woodlands Close Industrial Canteen
30 SEP - Completed HQ & central kitchen annex block's expansion project
1 JUL - Acquisition of Tonkichi & Rive Gauche Patisserie
2 JUL - Commenced operations with the first digitalized tray return & rewards system at Bukit Batok 292 Coffeeshop
1 MAY - Launch of beverage line "HOLIM"
1 JUL - Successfully tendered for 3 HDB coffeeshops under HDB's Price- Quality-Method ("PQM")
1 AUG - Successfully launched the iconic Kimly Bak Kwa Bao
1 NOV - Successfully acquired our first coffeeshop property, Teck Whye 143 coffeeshop
15 MAY - 122 Food stalls onboard on third party food delivery platform
3 JUN - Completion of acquisition of 6 food outlet properties
26 JUN - Successfully acquired 25% partnership interest in North View Investments LLP
30 JUN - Acquisition of Ang Mo Kio
347 Coffeeshop
26 AUG - Acquisition of Clementi 380 Coffeeshop
9 SEP - Entered into joint venture agreements to manage and operate Bukit Batok 376 Coffeeshop and Upper Aljunied 1 Coffeeshop
29 SEP - Entered into a joint venture agreement to manage and operate Choa Chu Kang 429A Coffeeshop
3 NOV - Entered into a business agreement to operate and manage the first halal coffeeshop, Kedai Kopi
21 JAN - Entered into a joint venture agreement to operate and manage Lorong Ah Soo 134 Coffeeshop
1 APR - Acquisition of 60% of the shares in Klovex Holdings Pte. Ltd.
29 APR - Entered into a joint venture agreement to operate and manage Bukit Batok 233 Coffeeshop and Serangoon 153A Coffeeshop
1 JUL - Opened second Kedai Kopi at
12 Haig Road
1 OCT - Completion of acquisition of 75% of the stake in Tenderfresh Business
ANNUAL REPORT 2021 05
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Disclaimer
Kimly Ltd. published this content on 10 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 January 2022 08:41:02 UTC.