Sakae eyes leap into financial investment
Eatery chain seeks shareholders' nod for strategy to fund expansion plan
Published on Aug 19, 2014 6:39 AM
Mr Douglas Foo wants the frog logo of his Sakae Sushi chain to be as ubiquitous as the golden arches of McDonald's or Starbucks' twin-tailed mermaid.
He has set his sights on having 30,000 Sakae Sushi outlets across five continents one day.
To that end, Sakae Holdings, which owns the Sakae Sushi chain, is seeking shareholders' approval to diversify into financial investment, fund management and corporate finance advisory services. An extraordinary general meeting will be held on Sept 2.
The mainboard-listed firm is already working to develop its capabilities in human capital, sustainable food resources and real estate management.
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INSPIRATION BEHIND PLAN
What inspired me was the General Electric model, which also has a capital arm that creates a stream of funding to assist other parts of the organisation in achieving its goals... GE Capital generates cash flow for the group to fund development of its medical and aviation divisions.
- Founder Douglas Foo, on the idea for Sakae's proposed diversification