LH GROUP (01978) plans to establish a joint venture company specialized in developing and operating selected high-quality Japanese dining concepts in the Singapore market.

LH GROUP (01978) announced that the company has entered into a joint venture agreement with FairPrice Group Food Services Pte. Ltd., the largest supermarket and FMCG retailer in Singapore, through its subsidiary. Together, they have established Gohan Concepts Pte. Ltd., with the subsidiary and FairPrice Group holding 49% and 51% equity in the joint venture company respectively. The joint venture company will focus on developing and operating selected high-quality Japanese dining concepts in the Singapore market. FairPrice Group has a large retail network and excellent operational capabilities in Singapore. This partnership will combine the group's years of experience in franchising Japanese brands and its position as one of the leading operators of Japanese franchised brands in Hong Kong. Leveraging its strong expertise in brand introduction and franchise management, the joint venture company will develop and operate selected high-quality Japanese dining brands to expand its business footprint. The joint venture company will first establish itself in Singapore and introduce the well-known Japanese chain brand "Torikizoku" (owned by Eternal Hospitality Group Co., Ltd., a listed company on the Tokyo Stock Exchange: 3193). With the group's years of professional experience in the Japanese market, more renowned Japanese brands will be introduced by the joint venture company to create high-quality and potential-filled dining experiences. Based on the successful development in the Singapore market, the group plans to further expand its business model to other Southeast Asian countries, introducing the group's premium Japanese dining brands to consumers in the region to promote the group's business growth in Southeast Asia. The directors believe that this collaboration is a strategic foundation for enhancing the group's capabilities in Southeast Asia and expanding its business model to more international markets, creating sustainable long-term value for the company's shareholders.