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KATRINA Group, a food and beverage business specialising in multi-cuisine concepts and restaurant operations, has entered into a non-binding Memorandum of Understanding (MOU) with Ajisen (China) Holdings Limited.
Under the terms of the MOU, Katrina and Ajisen China will collaborate in opening restaurants under the brand "So Pho" in Hong Kong and China. The parties will negotiate and determine if the proposed collaboration will be through a franchise or joint venture, with a definitive agreement expected to be finalised by the first half of 2017.
Ajisen China, which is listed on the mainboard of Hong Kong Stock Exchange, is one of the largest fast casual restaurant chain operators with an extensive chain of restaurants in Hong Kong and China.
Alan Goh, founder, CEO and executive chairman of Katrina said: "This collaboration is a step towards our aim of increasing our overseas presence and diversifying our revenue stream."
Katrina Group owns and operates 33 restaurants in Singapore under nine different brands, such as Bali Thai, Streats and So Pho. It also has two restaurants in China.