Serious No Signboard Restaurant Going To Be Literally No Signboard Soon! Pokkai Oredi! Now Depending On Gazelle To Bail Them Out!

[Hightech88]

Covid destroyed many F&B businesses.

 

[Scrooball (clone)]

These clowns actually dedicated 18 pages of their annual report to ‘sustainability’ - pg18-36 lol

https://nosignboardseafood.com/pdf/ar2022.pdf

 

[k1976]

SINGAPORE - As part of No Signboard’s annual report release on Jan 19, the company’s auditor, PKF-CAP, flagged uncertainty over the company’s ability to continue as a going concern.

The auditor noted that the company posted a net loss of $4.7 million for the financial year ended Sept 30, 2022, with net cash outflow from operating activities of $982,000.

In addition, it noted that the company’s current liabilities exceeded current assets by $6.6 million, while total liabilities exceeded total assets by $7.1 million as at Sept 30, 2022.

The net current liabilities included bank borrowings of $2.1 million that were reclassified from non-current to current as the company defaulted on monthly repayments due to insufficient funds.

“These factors indicate the existence of a material uncertainty that may cast significant doubt on the group’s and company’s ability to continue as going concerns,” the auditor said.

However, the company’s board remains confident that the memorandum of understanding (MOU) signed between the company and Gazelle Ventures for up to $5 million in investments as well as its restructuring exercise will help it generate cashflows from operations, and meet the company’s and group’s working capital requirements, and to operate as going concerns.

The company had earlier entered into a MOU with Gazelle Ventures for $5 million, of which $500,000 would be secured through subscription of new ordinary shares representing 75 per cent of the enlarged issued and paid-up share capital of the company. The remaining $4.5 million would be provided through a convertible instrument.

https://www.straitstimes.com/busine...s-going-concern-uncertainty-asset-impairments

Boss John can take over soon?

 

[k1976]

https://www.google.com/amp/s/amp.sc...t-mainland-chinese-affiliate-spooks-investors

Covid also destroy this monster

 

[knowwhatyouwantinlife]

How many Chinese restaurants do SG actually need? Also Chinese food everywhere taste the same, question is only the degree of level and type of heat used when cooking

 

[rushifa666]

I remember when Vivocity was newly opened, the No Signboard restaurant on the roof level was not yet opened for business. Through the glass windows I saw quite a number of staff sitting on one table, planning and strategizing for their launch. They were so optimistic and enthusiastic, sometimes even clapping.

Will probably be replaced by some Tiong (mala?) restaurant.

This was before the theft of gas.

 

[Leongsam]

Perhaps Psy can cheer everyone up again....

 

[Scrooball (clone)]

Perhaps Psy can cheer everyone up again....

By making us deaf with that audio garbage?

 

[congo9]

let this no sign board restoran and close shop.
Why keep on dragging ? Who is going to be charged or there's money to be made ?

 

[ODACHEK]

So when will Tim Ho Wan uplorry too? Their food sucks day by day...

 

[k1976]

let this no sign board restoran and close shop.
Why keep on dragging ? Who is going to be charged or there's money to be made ?

Tiagong it is listed

 

[k1976]

 

[JohnTan]

Boss John can take over soon?

I've been thinking of expanding my business operations from catering to restaurants

 

[Leongsam]

By making us deaf with that audio garbage?

Here's some high quality deafening music.