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Jumbo Group


Need to Focus

Jumbo acquired SGX IPO status in 2015. Started with a single outlet as East Coast Seafood Centre in 1987, the group has grown to include: 

  • Jumbo Seafood

  • Chui Huay Lim Teochew Cuisine 

  • Ng Ah Sio Bak Kut Teh

  • Kok Kee Wonton Noodle 

  • Chao Ting Teochew Pao Fan 

  • Hack It

  • Slake

  • Xinya Hainanese Chicken Rice 

  • Love Afare 

  • Tsui Wah 

spreader over 23 outlets in Singapore. 

Jumbo Seafood outlets are also established in: 

  • Shanghai, Beijing, Fuzhou, Xi'an

  • Ho Chi Minh, Bangkok, Seoul, Taipei

  • Tokyo & Osaka as Singapore Seafood Republic 

Coupled with Bak Kut Teh outlets in Shanghai & Taipei and another Chicken Rice outlet in One ITC Mall in Shanghai. 

Singapore constitute 54% of sales, followed by China 39% and Others 7%. 

Business  FY-September

Sales had been growing steadily until 2018 when revenue started to flatten in 2019. From 2020, Covid-19 pandemic and cities lockdown led to sales collapse and substantial net loss in 2020 & 2021. 

During this difficult period, revenue in China, Taiwan & Others did show growth while business in Singapore market continue to shrink. 

While Covid-19 did cause substantial mayhem to the company financial, sign of Jumbo problem start to rear its head sometime in 2014. Although gross margin was stable, operating expense have gradually increased, pressuring operating margin. 


The company only started to take action in FY20 to rein-in expenses, reducing from FY19 $86M to $76M & $70M in FY20 & FY21. Growing depreciation of PPE, sticky operating lease or right-of-use did not fall sufficiently for business to breakeven. 


Broader opening of Singapore land & air borders and gradual return to work in office should support revenue recovery. 

China zero-Covid policy will remain challenging for the company especially with the recent lockdown in Shanghai and other cities. 

Overall full sales recovery will take time. The larger challenge for Jumbo is to rein in expenses to match new reality. 

Furthermore, the numerous franchise or outlets across so many cities in the midst of pandemic is extremely taxing on management effort and focus. Jumbo do need to take a hard look at the overall business portfolio for streamlining and to focus on her core competences. 

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