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ADERA and BreadTalk Group Establish Tech JV to Develop Innovative Fintech and Digital Solutions for SMEs
&bull COVID-19 has accelerated the pace of technology adoption as initiatives to tap new growth opportunities amid the pandemic were largely reliant on digitalisation and technology
&bull The technology joint venture aims to develop innovative fintech and digital solutions, such as data analytics, blockchain-based supply chain financing platform, digital payments, to accelerate SMEs&rsquo digitalisation strategy to enhance their business efficiency and unlock new growth opportunities
&bull The first batch of fintech and digital solutions is targeted to be rolled-out by 1Q2021 and it will be deployed progressively across BreadTalk Group&rsquo s F& B establishments as proof-of-concepts before adaption for mainstream adoption in other industries
ADERA AI Pte. Ltd. (&ldquo ADERA&rdquo ), an innovative technology services group headquartered in Singapore with a track record of more than 35 years, and BreadTalk Group Pte Ltd (&ldquo BreadTalk Group&rdquo ), an award-winning F& B Group with more than 1,000 retail stores spread across 17 territories, are pleased to announce the establishment of a technology joint venture to develop innovative fintech and digital solutions targeted at small and medium enterprises (&ldquo SMEs&rdquo ).
SMEs are an important component of Singapore&rsquo s economy, providing employment for two thirds of Singapore&rsquo s workforce and contributing nearly half of Singapore&rsquo s Gross Domestic Product (GDP) on an annual basis.
COVID-19 has accelerated the pace of technology adoption as initiatives to tap new growth opportunities amid the pandemic were largely reliant on digitalisation and technology. As such, the scale of technology adoption for business enterprises to transform their business models has never been more apparent than now.
Leveraging on the combined expertise and resources of both ADERA and BreadTalk Group, the technology collaboration aims to:
1. Develop digital tools that offer data analytics, enhance operational efficiency and data-driven decision methodology on issues such as inventory, payments, customer acquisitions and etc.
2. Create a scalable omni-channel platform to enhance outreach to customers via new sales channels, integrating operations, incorporating digital payments, facial recognition and designing a cohesive user experience for end-customers.
3. Establish a blockchain-based supply chain financing platform with digitalised processes and document automation so stakeholders can gain faster access to financing and potentially lower their costs of funding. With more accountability and transparency, it can foster greater trust and confidence between financing institutions and transacting parties, leading to lower financing and business risks.
Under the joint venture, ADERA will provide its knowhow, capabilities and experience in key areas such as digital automation, facial recognition, digital identity, digital payments and artificial intelligence, while BreadTalk Group will contribute its technical and operational experience.
Commenting on the technology joint venture, Mr Lennon Tan (陈 展 鹏 ), Chairman of ADERA, said: &ldquo Amid the COVID-19 pandemic, technology has become an essential tool to overcome operational challenges and enhance business agility.
As we adapt and adjust to the new normal economy, both ADERA and BreadTalk Group recognise that our combined knowhow and experience can lead to the development of cutting-edge fintech and digital tools that can be adapted for the digitalisation roadmap of other industry segments.
With BreadTalk Group&rsquo s established F& B business presence across 17 territories, it will provide significant opportunities for us to introduce and deploy our fintech and digital solutions to improve business operations and customers&rsquo engagement, leading to more proof-of-concepts and accelerating mainstream adoption of our technology innovations.
Combining the resources and strengths of both ADERA and BreadTalk Group, we look forward to use our best talents and expertise together to unlock new opportunities in the digitalisation journey for stakeholders.&rdquo
Mr Cheng William (荘 偉 南 ), Group COO of BreadTalk Group, added: &ldquo There are vast, untapped opportunities in the areas of digitalisation within the Group and the F& B industry. Our diverse multi-brand operating environment with international presence provides an ideal platform for proof-of-concepts.
To this extent, we have identified 3 &ldquo pros&rdquo to guide our digitalisation efforts: pro-customers, pro-workforce, pro-business partnerships to create more value propositions for stakeholders.
Leveraging on ADERA&rsquo s expertise and capabilities of more than 35 years in technology services, we are confident that this joint venture will strengthen the core capabilities of our businesses and such technology innovations can be replicated to enable businesses in other industries to build sustainable growth in their digitalisation roadmap.&rdquo
BREADTALK founder George Quek's acquisition of a stake in Taiwan's Pacific Sogo Department Stores prior Covid 19 further stretch its caah flow.
Sgvale ( Date: 09-May-2020 09:29) Posted:
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Too bad got delisted. Otherwise, its a good short stock
Breadtalk Toastbox, Ding Tai Feng, Food Republic all in bad shape. Somemore acquisition of shares at premium 0.77 & Food Junction prior Covid 19. Incurred millions of losses. Now staff on no pay leave & pay cut..
Shareholders lucky to exit at 0.77. Else now probably worth less than 0.30.
Shareholders lucky to exit at 0.77. Else now probably worth less than 0.30.
BreadTalk offeror meets compulsory acquisition threshold
THU, APR 16, 2020 - 11:26 PM
BREADTALK Group on Thursday said that as at 5pm, its offeror had amassed acceptances representing about 97.77 per cent of the total number of shares in the food and beverage company.
The company' s founder and chairman George Quek is making an offer to buy back all of the issued ordinary shares at 77 cents a piece through BTG Holding, which he owns with his wife Katherine Lee and Minor International, a hospitality and leisure company listed in Thailand.
The offeror thus intends to exercise its right to compulsorily acquire all the shares of the shareholders who have not accepted the offer under the same offer terms of S$0.77 per share.
https://www.businesstimes.com.sg/companies-markets/breadtalk-offeror-meets-compulsory-acquisition-threshold
i also think the same way.
some may feel that they buy expensive so this price not reasonable.
but really the offer price means one can sell and scoop up other cheap asset.like switching counter from
one tha thas little price impact to one that has future but has big discount.
window of opportunity to buy others cheap is closing.
no one knows the direction. so dyodd.
some may feel that they buy expensive so this price not reasonable.
but really the offer price means one can sell and scoop up other cheap asset.like switching counter from
one tha thas little price impact to one that has future but has big discount.
window of opportunity to buy others cheap is closing.
no one knows the direction. so dyodd.
I thought shareholders, retail esp, should thank George for bailing them out in this pandemic that has been decimating restaurants all over the globe?
bullrun6088 ( Date: 15-Apr-2020 15:05) Posted:
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Don' t buy its roti and makan at its restaurants! Let it close shop after delisting! Its brand are:
Toast Box,
Food Republic,
Food Junction,
Bread Society,
Sō Ramen,
Thye Moh Chan,
The Icing Room,
Din Tai Fung,
Nayuki,
TaiGai,
Song Fa Bak Kut Teh,
Wu Pao Chun Bakery
Toast Box,
Food Republic,
Food Junction,
Bread Society,
Sō Ramen,
Thye Moh Chan,
The Icing Room,
Din Tai Fung,
Nayuki,
TaiGai,
Song Fa Bak Kut Teh,
Wu Pao Chun Bakery
So quick got back all the proceeds.
beng1102 ( Date: 04-Apr-2020 21:50) Posted:
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Delist confirmed, 94% controlled.
Starrynitee ( Date: 20-Mar-2020 12:21) Posted:
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Ur broker checked the offer terms doc is it. It was written as 70% inside and dated ard 6 march..
Papason883883 ( Date: 20-Mar-2020 10:03) Posted:
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George and concerted parties have 70% plus right now based on the offer doc and that is based on their own shareholding.
Broker will not be able to check latest acceptance rates because they have no access to such info.
With mkt in such shape, shareholders will tender their shares for 77 cents ( IN CASH)...the current share price is not trading higher than 77 cents hence why sell in the open market below 77 cents (unless some breadtalk shareholdesr kena margin call)...sell the profitable trades first.
Again...common sense dictat that shareholders will tender their shares at 77 cents.
Broker will not be able to check latest acceptance rates because they have no access to such info.
With mkt in such shape, shareholders will tender their shares for 77 cents ( IN CASH)...the current share price is not trading higher than 77 cents hence why sell in the open market below 77 cents (unless some breadtalk shareholdesr kena margin call)...sell the profitable trades first.
Again...common sense dictat that shareholders will tender their shares at 77 cents.
If failed, i short big time!
My broker checked. Currently 70% acceptance.
risk is like mentioned less than 90%, and George can offer much lower given the current condition
risk is like mentioned less than 90%, and George can offer much lower given the current condition
Given current situation, cant imagine any shareholder will object to this pte plan .
lailai ( Date: 20-Mar-2020 08:57) Posted:
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Understand that it' s conditional, .... need 90% acceptance b4 closing date.
Observers ( Date: 20-Mar-2020 08:26) Posted:
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The creditor has to be careful. If breadtalk end up like hyflux, it has to take huge loss to the loan and can only recover a portion. By allowing breadtalk to privatise and restructure, it may stand a higher chance of recovering its loan. I think the seeking of approval is needed legally and procedural only. Should not impact the offer
Didnt read the offer circular. Are they any conditions to fufill before the offer becomes unconditional? Or is it unconditional from the get go?
uiop1223 ( Date: 19-Mar-2020 22:05) Posted:
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Not saying its planned, but this seems like a plausable exit strategy for the offer? Will noteholders want the founder' s money to go to the shareholders in this period of record dropping global markets?
Starship ( Date: 19-Mar-2020 16:21) Posted:
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That boils down to the qn for new investor who buys in now. Does the offer of 0.77 still stand or we will only know by 6 april 🤣
uiop1223 ( Date: 19-Mar-2020 22:05) Posted:
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