Corporate digest

Jumbo Group

JUMBO Group will set up a new branch office and Jumbo Seafood restaurant in the Chinese city of Xi'An. This is through a joint venture between its indirect wholly owned subsidiary Jumbo F&B Services (Shanghai) and Beijing Hualian Departmental Store. Jumbo and Beijing Hualian will increase their capital contributions to the joint venture by 13 million yuan (S$2.7 million). In line with their shareholding percentages of 51 per cent and 49 per cent respectively, Jumbo will contribute 6.63 million yuan and Beijing Hualian will contribute 6.37 million yuan.

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