Business @ AsiaOne

Food chain owners to cook up a storm in US

Local restaurant chains are looking to expand into the US market, enabling New Yorkers to sample our local fare.
Francis Chan

Mon, Sep 08, 2008
The Straits Times

By Francis Chan

NEW Yorkers may soon be dining on white pepper crab and steamed fish Hokkien style - signature dishes of No Signboard Seafood - right in the heart of Manhattan island.

Although the popular Singapore restaurant chain does not have any plans to set up shop in the United States just yet, it is definitely keeping its options wide open.

Tomorrow, No Signboard's director Lim Lay Hoon will join seven other local restaurant chain owners on a trip to New York and Las Vegas led by International Enterprise (IE) Singapore. They will meet key players in the US food industry such as the New York State Restaurant Association and Harrah's Entertainment, to explore business opportunities in the United States.

Ms Lim said that No Signboard, which currently has outlets in Macau and Indonesia, may face issues such as the supply of skilled labour and cooking ingredients if it set up a branch in the US. But she remained hopeful that the trip may clear up some of those issues, and looked forward to talking to US business figures.

"We hope to learn from our US counterparts, and perhaps apply some of their ideas into our plans to expand into other Asian markets," she added. "And as far as setting up a branch in the US is concerned, we never know, an opportunity might just come while we are there."

According to IE Singapore, stringent requirements by the US Food and Drug Administration (FDA) and difficulties in sourcing ideal retail space and like-minded partners have made it challenging for local restaurant firms looking to break into the US market.

But IE Singapore believes that this mission has come at the right time to help local food service firms overcome those challenges.

"This mission, specifically for food services companies, is timely because there is a growing demand among American consumers for distinctive or unique dining experiences - in particular, authentic Asian cuisines," said IE Singapore's deputy director for lifestyle services Tan Soon Kim.

"Also many malls and retail spaces, especially in New York, are revamping their concepts to include an Asian flavour, so this is an opportune time for our local companies to venture in."

Official figures show there were about 600,000 food outlets in the US, generating $611.6 billion in sales, last year - a 5 per cent increase from 2006. The Republic's food exports to the US also increased by 8 per cent last year to $268 million.

Though this is the first business mission that IE Singapore is organising specifically for restaurant chain owners, some participants, like Mr Douglas Foo, have already expanded into the US.

"We learnt a lot when we opened our first Sakae Sushi outlet at the Chrysler Building in New York City this year," said the chief executive of Apex-Pal International which owns the Sakae Sushi chain. "We are confident that the US market will provide the next wing of growth for the group."

 


This article was first published in The Straits Times on September 6, 2008.

 
 
 
Copyright ©2007 Singapore Press Holdings Ltd. Co. Regn. No. 198402868E. All rights reserved.
Privacy Statement Conditions of Access Advertise