BreadTalk responds to SGX query, says it's in talks to form JV

BREADTALK Group is in talks with several third parties to form a joint venture (JV) that will be a franchisee and operator of an existing business in a new territory.

The group said this on Wednesday evening in response to a query by Singapore Exchange (SGX) on unusual trading activity in its shares.

"The discussion is in relation to a core business of the group and is not expected to have a material financial impact in the current financial year ending 31 December 2016," the group said, adding that it will issue a press release on this shortly.