Neo Group outlines three-fold expansion plan

The newly listed catering group said it will aggressively roll out new dining concepts, open more outlets and hunt for tasty acquisitions.

"We plan to expand both our food catering business and food retail business by capturing more market share by way of strengthening our three catering brands through the introduction of new dining concepts, increasing the number of food retail outlets in the next few years, and exploring acquisitions or joint ventures where opportunities arise," said Neo Group’s Founder, Chairman and CEO, Mr Neo Kah Kiat, as the firm became listed on Singapore's Catalist with a stock code of “5UJ”.

"We are very heartened to see that our IPO has received an extremely encouraging response from investors, and we are now ready to take Neo Group to the next stage of growth. Moving forward, we plan to not only maintain, but also improve our position as the Number 1 events caterer in Singapore through our focused growth strategies," said the Neo Group CEO.

The Group plans to execute these strategies using the fresh funds it received from its recent IPO. Neo Group Limited has an estimated market capitalisation of $43 million brings the total number of companies listed on the Catalist to 138.

Commenting on the new listing of Neo Group, Mr Lawrence Wong, Head of Listings, SGX said: “We warmly welcome Neo Group to our Catalist board, an ideal platform for fast growing companies. We are delighted that home-grown companies like Neo Group, which have won several awards for its strong branding, entrepreneurship and service, have chosen to list on SGX to expand their business. I look forward to welcoming more of such companies to leverage on our listing platform for capital-raising and increased exposure in Asia and globally."