The board of directors of Singapore Food Holdings Limited announced that the Group will open a western restaurant in Shanghai, the People's Republic of China by the third quarter of 2021 (the ‘Restaurant’). The Restaurant will be located at a shopping mall in the Bund of central Shanghai. The Restaurant targets at middle-to-high income individuals. It aims to offer a variety of western dishes, including seafood cuisine and bakery products, with a cozy dine-in atmosphere. The renovation and other necessary preparatory works for the Restaurant are currently underway. The upfront costs associated with the opening of the Restaurant will be financed with the Group's internal resources.