No Signboard closes Esplanade outlet!

[Voldermort]

After two years battling the economic impact of the Covid-19 pandemic, seafood restaurant owner No Signboard closed its Esplanade outlet on Friday (April 1), just as Singapore reopened its borders.

No Signboard said it had carefully considered the option of keeping the outlet open until all Covid-19 restrictions were fully lifted.

However, it may take several more months before travel returns to levels before the pandemic hit, even though the Government had recently eased restrictions, such as increasing the maximum group size for dine-ins from five to 10, the company said.

This will continue to adversely affect the business of No Signboard's Esplanade outlet, it said in a filing on the Singapore Exchange late on Thursday night.

More at https://shrtcô.de/2HpyNi

 

[bobby]

Will there be a signboard that says it will be closed ?

 

[LexLuthor]

Will there be a signboard that says it will be closed ?

There will be signboard, but they will change their business name to "No Seng Li".

 

[red amoeba]

Tourist trap targeting at tiongs. Even with opening up of borders they won’t survie.

 

[laksaboy]

Tourist trap targeting at tiongs. Even with opening up of borders they won’t survie.

I miss the good old days when Tiong tourists clusterfucked around the base of the Merlion statue in Sentosa, and were queueing up to makan bak kut teh at New Bridge Road Song Fa restaurant.

 

[Scrooball (clone)]

Damn stupid to open at Esplanade.

 

[Confuseous]

It was reported that they used a high percentage of the IPO proceeds
for the very act of getting listed.

 

[Scrooball (clone)]

Look at how they used the IPO proceeds and u know it's laughable. Out of $19 million, $10 million went to a dodgy 'general working purposes'. And why didn't they allocate any fund to 'development of ready meal business'?

 

[jw5]

Look at how they used the IPO proceeds and u know it's laughable. Out of $19 million, $10 million went to a dodgy 'general working purposes'. And why didn't they allocate any fund to 'development of ready meal business'?

View attachment 140505

They were not Ready to develop the Ready meal business.

 

[Scrooball (clone)]

CHAIRMAN AND CHIEF EXECUTIVE OFFICER
Principle 3: There should be a clear division of responsibilities between the leadership of the Board and Management, and no one individual has unfettered powers of decision-making.

Mr Sam Lim is the Executive Chairman of the Board and also the CEO of the Company. The Board recognises the Code’s recommendation that the Chairman and the CEO should be separate persons to ensure that there is an appropriate balance of power, increased accountability and greater capacity of the Board for independent decision-making.

The Board is of the view that accountability and independence have not been compromised despite the Chairman and CEO being the same person. With the majority of the Board comprising Independent Directors, the Board is of the view that there is sufficient element of independence and adequate safeguards against a concentration of power in one single person. All decisions of the Board are based on collective decision-making without any individual or small group of individuals influencing or dominating the decision making process. In addition, the NC and Board is of the view that given the current Group structure and business scope, Mr Sam Lim, the founder of the Company, is in the best position to lead the Board as Executive Chairman and the split of roles of the Chairman and CEO would not be meaningful.

 

[LexLuthor]

CHAIRMAN AND CHIEF EXECUTIVE OFFICER
Principle 3: There should be a clear division of responsibilities between the leadership of the Board and Management, and no one individual has unfettered powers of decision-making.

Mr Sam Lim is the Executive Chairman of the Board and also the CEO of the Company. The Board recognises the Code’s recommendation that the Chairman and the CEO should be separate persons to ensure that there is an appropriate balance of power, increased accountability and greater capacity of the Board for independent decision-making.

The Board is of the view that accountability and independence have not been compromised despite the Chairman and CEO being the same person. With the majority of the Board comprising Independent Directors, the Board is of the view that there is sufficient element of independence and adequate safeguards against a concentration of power in one single person. All decisions of the Board are based on collective decision-making without any individual or small group of individuals influencing or dominating the decision making process. In addition, the NC and Board is of the view that given the current Group structure and business scope, Mr Sam Lim, the founder of the Company, is in the best position to lead the Board as Executive Chairman and the split of roles of the Chairman and CEO would not be meaningful.

 

[Confuseous]

Ultimately, this (and other cases) do no reflect well on the SGX.

 

[Confuseous]

Look at how they used the IPO proceeds and u know it's laughable. Out of $19 million, $10 million went to a dodgy 'general working purposes'. And why didn't they allocate any fund to 'development of ready meal business'?

View attachment 140505

They are also on record as saying that they will use the additional funds to learn about the food business.
FCuk.

 

[Scrooball (clone)]

They are also on record as saying that they will use the additional funds to learn about the food business.
FCuk.

That’s like an Accountant asking his company for money to learn the balance sheet.

 

[mojito]

Close also must esplanede arh?