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Extracted from Annual Report 2008/07

The Group achieved a 9% increase in sales despite a challenging operating environment due to rising competition. However, the Group remained confident of its prospects in Singapore, where it enjoys a premium reputation. It has expanded its operations to attract a wider spectrum of the market.

Tung Lok Group owns and operates 23 restaurants and manages six third-party restaurants as at end FY08. The Group currently has operations in Singapore, Indonesia, China, Japan and India.

Expanding our Singapore operations

The Group opened another outlet of Tung Lok Signatures at The Central in June 2007, following the success at VivoCity, and set up a LingZhi Vegetarian Restaurant outlet at Velocity@Novena Square in December 2007.

Due to commercial reasons, the Group decided to terminate the leases at The Fullerton Hotel in December 2007 and at China Square in February 2008. Having secured a Master Franchise Agreement with one of Indonesia's Padang restaurant chains - Rumah Makan Garuda - in 2006, the Group and its Indonesian partners successfully introduced authentic Padang cuisine to Singapore via the two Garuda Padang Cuisine restaurants in Cairnhill Road and VivoCity.

Riding on the positive market reception to the authentic Padang cuisine, the Group now plans to raise the restaurants' profile among Singaporeans through a series of publicity initiatives, offer takeaways of the restaurants' popular dishes in vacuum-packed form as well as offer wedding and corporate dinner packages.

Underscoring the confidence in its chain of Garuda Padang Cuisine restaurants, the Group increased its shareholding from 360,000 ordinary shares to 660,000 ordinary shares in the capital of Garuda Padang Restaurant (Singapore) Pte. Ltd. ("Garuda") via an allotment of 300,000 ordinary shares in satisfaction of the $300,000 owed by Garuda. The Group's 60% stake in Garuda remained unchanged.

As outlined earlier, a major re-branding exercise conducted in October 2007 has realigned the Group's stable of restaurants in Singapore. As part of this exercise, the Group opened two wholly owned Zhou’s Kitchen outlets at AnchorPoint (replacing Paddy Fields) and Far East Square in October 2007 and December 2007, respectively.

Our Operations in China

To give the Group more control over the operations and financial matters of My Humble Place in Beijing, the Group entered into a share transfer agreement in September 2007 with its joint-venture partner "Beijing Oriental Consultancy Company" to buy 10% of the registered capital of My Humble Place for a consideration of RMB500,000. The agreement will increase the Group’s stake in My Humble Place in Beijing from 60% to 70%.

The Group also received strong endorsement of its brand in China when its My Humble House in Beijing secured a contract to serve visiting delegates and VIPs during the Beijing Olympics 2008.

Awards and Accolades won in 2006 and 2007

While pursuing growth, the Group has not lost sight of the qualities that are synonymous with the "Tung Lok" brand. We continued to gain recognition from professional organisations for our commitment to service excellence and innovative ideas.

Tung Lok Group

  • Awarded "World-Renowned Chinese Restaurant Group" at the World Association of Chinese Cuisine 2006 in China.

Andrew Tjioe, Executive Chairman

  • Named "Hospitality Entrepreneur of the Year" at the Hospitality Asia Platinum Awards (HAPA) 2006-2007
  • Named "Renowned International Chinese Restaurant Entrepreneur" at the World Association of Chinese Cuisine 2006 in China

Sam Leong, Corporate Chef/Director of Kitchens

  • Named "Chef of the Year" at the Hospitality Asia Platinum Awards (HAPA) 2006-2007
  • Named "International Great Masterchef of Chinese Cuisine" at the World Association of Chinese Cuisine 2006 in China

Club Chinois

  • Awarded "Most Innovative F&B Concept" at the Hospitality Asia Platinum Awards (HAPA) 2006-2007
  • Voted Public's Favourite Restaurant in the "Most Popular Asian Restaurant" category *
  • Bronze Medal for Best Dish Award in the "Most Popular Asian Food Restaurant" category *
  • Awarded One Star (Great Establishment) by Wine & Dine Singapore's Top Restaurants Award 2007

Jade

  • Awarded Singapore's Best Restaurants Service Awards 2007 by Singapore Tatler
  • Voted Public's Favourite Restaurant in the "Most Popular Chinese Cuisine Restaurant" category *
  • Silver Medal for Best Dish Award in the "Most Popular Chinese Cuisine Restaurant" category *
  • Awarded Two Stars (Excellent Establishment) by Wine & Dine Singapore's Top Restaurants Award 2007

My Humble House, Singapore

  • Ranked No. 94 in the Annual World's Top 100 Restaurants list by prestigious UK publication, Restaurant Magazine
  • Silver Medal for Best Dish Award in the "Most Popular Asian Food Restaurant" category *
  • Awarded One Star (Great Establishment) by Wine & Dine Singapore's Top Restaurants Award 2007

Lao Beijing

  • Awarded One Star (Great Establishment) by Wine & Dine Singapore's Top Restaurants Award 2007

LingZhi Vegetarian Restaurant

  • Awarded "Best for Veggie Lovers" at the Singapore Women's Weekly Gold Plate Awards 2007
  • Voted Public's Favourite Restaurant in the "Most Popular Theme Restaurant" category *

Noble House

  • AGold Medal for Best Dish Award in the "Most Popular Chinese Cuisine Restaurant" category

Tung Lok Restaurant

  • Bronze Medal for Best Dish Award in the "Most Popular Chinese Cuisine Restaurant" category *

My Humble House, Beijing

  • Voted "Most Favourite Restaurant in Beijing and Shanghai 2006" by VOGUE magazine
  • Voted "Top Restaurant for Business Lunch 2006" by TIMEOUT magazine
  • Awarded "Beijing's Most Popular Dining Venue 2006" by China Welcomes You magazine
  • Voted "Best Restaurant for a Luxurious Dining Experience" by Economist Cities Guide
  • Listed in Gafencu Magazine's Best of the Best 2007 as one of the best restaurants in Beijing

House By The Park, Beijing

  • Awarded "Most Innovative Cuisine" in the 2006 Modern Weekly Best Restaurants in Beijing award ceremony
  • Awarded "Best Designed Restaurant in Beijing, Shanghai and Hong Kong" by Modern Weekly magazine
  • Listed in Gafencu Magazine's Best of the Best 2007 as one of the best restaurants in Beijing

Jin Lu - The Chinoise Story, Shanghai

  • Selected as "Top 50 Restaurants 2006" by Food & Wine magazine. Also among the "Top 30 New & Creative Restaurants", as well as awarded the "Best Uniform Design".
  • Awarded the "Best Restaurant Design" by Modern Weekly 2006 Best Restaurants in the Creative Cuisine restaurant category
  • Amongst the Top 45 restaurants to be included in the "Eat & Drink Your Way Through Town" Guide 2006 by TIMEOUT Magazine - voted as one of the most prominent new restaurants of the year.
  • Listed in Shanghai Tatler's 2007 Best Restaurants Guide as one of the Top 100 restaurants in Shanghai.

NOTE: Category refers to Singapore Gourmet Hunt Award 2006, organized by the Restaurant Association of Singapore and MediaCorp Radio.