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Under the Radar: (SPECIALS) How will the full acquisition of Tim Ho Wan by Jollibee Food Corporation help the dim sum restaurant chain achieve its growth ambitions?
There is arguably no higher recognition than the Michelin star in the Food and Beverage scene.
And the company we’re speaking to was once called the most affordable Michelin-starred restaurant chain in the world.
Make a guess, and perhaps think on the lines of dim sum and BBQ pork buns. Bingo if you’ve guessed Tim Ho Wan!
Tim Ho Wan’s story can be traced back to 2009. That’s when Chef Mak Kwai Pui, who’s formerly from the prestigious three Michelin starred Lung King Heen restaurant in Hong Kong’s Four Seasons Hotel teamed up with Chef Leung Fai Keung to open a 20-seater dim sum restaurant in Mongkok.
The business thrived as people came for its hot steaming buns, chee cheong fun, and siew mai, and the restaurant earned one Michelin star just a year later.
The rest, as they say, is history, as more restaurants opened, with each earning its own Michelin star.
In 2013, Tim Ho Wan made its international debut by opening its restaurant at Plaza Singapura in Singapore, drawing long lines and widespread attention. The chain has since gone on to open more locations around the world, and boasts over 80 outlets globally.
But while Tim Ho Wan may be a household name, did you know that it is closely related to a fast food chain from the Philippines called Jollibee?
In November 2024, Jollibee’s parent company, or Jollibee Food Corporation, announced the full acquisition of Tim Ho Wan, by paying S$20.2 million for an 8 per cent stake of the company held by other investors.
So how has the firm fared some six months after being a subsidiary of Jollibee Foods Corporation? How will the company ensure the quality of its menu items amid the change?
And how will being a part of the Jollibee ecosystem help the firm achieve its growth ambitions around the world?
On Under the Radar, Money Matters’ finance presenter Chua Tian Tian posed these questions to Yeong Sheng Lee, CEO, Tim Ho Wan International.
See omnystudio.com/listener for privacy information.
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By MONEY FM 89.3There is arguably no higher recognition than the Michelin star in the Food and Beverage scene.
And the company we’re speaking to was once called the most affordable Michelin-starred restaurant chain in the world.
Make a guess, and perhaps think on the lines of dim sum and BBQ pork buns. Bingo if you’ve guessed Tim Ho Wan!
Tim Ho Wan’s story can be traced back to 2009. That’s when Chef Mak Kwai Pui, who’s formerly from the prestigious three Michelin starred Lung King Heen restaurant in Hong Kong’s Four Seasons Hotel teamed up with Chef Leung Fai Keung to open a 20-seater dim sum restaurant in Mongkok.
The business thrived as people came for its hot steaming buns, chee cheong fun, and siew mai, and the restaurant earned one Michelin star just a year later.
The rest, as they say, is history, as more restaurants opened, with each earning its own Michelin star.
In 2013, Tim Ho Wan made its international debut by opening its restaurant at Plaza Singapura in Singapore, drawing long lines and widespread attention. The chain has since gone on to open more locations around the world, and boasts over 80 outlets globally.
But while Tim Ho Wan may be a household name, did you know that it is closely related to a fast food chain from the Philippines called Jollibee?
In November 2024, Jollibee’s parent company, or Jollibee Food Corporation, announced the full acquisition of Tim Ho Wan, by paying S$20.2 million for an 8 per cent stake of the company held by other investors.
So how has the firm fared some six months after being a subsidiary of Jollibee Foods Corporation? How will the company ensure the quality of its menu items amid the change?
And how will being a part of the Jollibee ecosystem help the firm achieve its growth ambitions around the world?
On Under the Radar, Money Matters’ finance presenter Chua Tian Tian posed these questions to Yeong Sheng Lee, CEO, Tim Ho Wan International.
See omnystudio.com/listener for privacy information.
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