It is business as usual for Tim Ho Wan restaurants in Singapore, a spokesman for the group said on Tuesday (July 4), following the closure of two outlets in Kuala Lumpur.
“The Tim Ho Wan restaurants in Singapore are not affected. Tim Ho Wan Malacca is similarly not affected and continues to operate business as usual,” the spokesman said.
The Malay Mail Online reported earlier on Tuesday that two outlets in Malaysia’s Mid Valley Megamall and 1Utama Shopping Mall have shuttered after its Dim Sum Delight — which operates the Michelin-starred Tim Ho Wan in Malaysia — closed down following heavy financial losses last year.
In a Bursa filing to announce the decision on Monday, Penang-based food and beverage company, Texchem Resources, which owns 51 per cent in shares in Dim Sum Delight, announced that Dim Sum Delight had incurred losses of RM895,642 (S$287,885), “and is not expected to turn around in the near future”.
“Given that the current retail market remains soft and competitive, the Board of Dim Sum Delight is of the view that the prospects of Dim Sum Delight is very challenging and this situation is not expected to change anytime soon. Accordingly, the shareholders of Dim Sum Delight are of the opinion that Dim Sum Delight should cease its business operation to minimise losses,” Texchem said in its reason for cessation.
The company said that it is also unable to assess the cost associated with the closure of the Tim Ho Wan outlets, but would be providing the update in due course.
The Hong Kong dim sum chain currently has eight outlets in Singapore. The outlet at Plaza Singapura, the first outside of Hong Kong, opened in April 2013. Then, it could take customers three hours to get a table at the walk-ins-only outlet.
In November 2014, it launched its first 24-hour restaurant in Singapore. The chain also has outlets in Australia, Indonesia, Taiwan and the Philippines.
Tim Ho Wan is well known for its hole-in-the-wall Mongkok eatery that rose to fame when it scored a coveted Michelin star after just one year of its operations. WITH MALAY MAIL ONLINE