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Food Innovators Holding Limited

Food Innovators Holdings Limited ("FIH" or the "Company") is offering 14m shares at $0.22 each, for which 13m shares will be through placement and the remaining 1m shares via a Public Offer. The IPO will close on 14 Nov at 12 noon and starts trading on 16 Oct 9am.  FIH has two business models - the first is to be a master lease and sublease the space to other tenants and the second is to operate and manage restaurants.  The Company currently has 12 restaurants in Japan, 10 in Singapore and 4 in Malaysia. The market cap based on the IPO price is around $24.9m. Financial Highlights FIH's revenue grew from $37.8m in FY2022 to $43.8m in FY2024. It is quite funny to see that being a master land lease holder has a higher margin than operating the restaurants, once again illustrating the point that it is better to be a landlord to shake leg and collect rent. According to the prospectus, the PER is around 19x. The Company intends to pay 20% of its net profit after tax a

A tribute to our founding father


The passing away of our founding father, Mr. Lee Kuan Yew, resulted in a week of nation mourning. 

It was a sad period for me as I have always admired his leadership and capability to lead Singapore from a 3rd world to a 1st world state in 30 years.

It is quite amazing when I reflect how much tears I shed for a person whom I don't even know personally. 

The least I can do is to express my gratitude by paying my last respects to him at Parliament House. 


This journey took exactly 8 hours. It's like a flight from Beijing back to Singapore. I was in China earlier part of the week and rushed back to pay my respects. 


His passing away was reported on every major newspaper around the world. The above was the newspaper at the hotel where I was staying. This is his legacy, someone whose advice is widely sought after by politicians around the world. Someone who always speaks his mind! 


When you have nothing to do except taking pictures with your iPhone during the 8 hours queue, you suddenly realize how beautiful Marina bay is. The marina barrage came about due to Mr Lee's obsession (in his son's own words) to ensure Singapore is self sufficient in water supply. 


The eight hour journey took us from the Padang to the floating platform then back to Singapore River front before winding into the Parliament House. Each scenery was vivid and the buildings are monuments which bear his fingerprints, including the cleaned up Singapore River. I still remember having hawker food beside the Singapore River, which was dirty, muddy and smelly. 


Mr Teo Chee Hean even came by to thank us for our patience. I have to say everyone was patient and orderly and at their best behavior, determined to see Mr. Lee no matter how long it takes. 

Kudos to the group of volunteers and SAF Personnel who made the waiting less painful by setting up holding areas in strategic places with toilets. 

I paid my respects after 8 hours and it was already in the wee hours. The police has even shut off the queue temporarily that night. 


前人栽树,后人乘凉

My children will probably not appreciate the things done by Mr. Lee. Their lives are definitely much better than my generation. As such I am quite pleased to see them write a long passage to thank him at the remembrance sites. 


My parents always felt that my generation X don't appreciate the things which he has done but I can proudly say that my generation do remember and appreciate the things that he had done for us! 

All my facebook friends expressed our gratitude in one way or another. Some queued along the roads, other brought flowers and many queued to pay respects to him and we cried together as a nation. 


Rest in peace Mr. Lee. Much has already been written. There is nothing else I can say other than a heart felt Thank You

Singapore will not be what it is today without you. This post is a tribute to you on my blog. I will always remember you for:

• Assembling a clean and efficient government with zero tolerance for corruption and leading by example 
• Believing that the best resources Singapore has is your citizens and thereby ensuring top notch education for us
• Building up a multi racial society based on merit and equality. Everyone has a chance if he or she is willing to work hard
• Creating a very clean and green Singapore and ensuring Singapore is self sufficient in water today! 
• Bringing us from third world to first in 30 years and lifting the standard of living for everyone
• Devoting your life to Singapore and your loving devotion to your wife. 

Behind every great man, there is a greater woman! Thank you Mrs Lee. You have been a pillar of strength and working quietly behind the scenes. 

Comments

Dennis Ng said…
Hi Mr IPO,
We'll miss and remember this great man, Mr LKY.
I didn't go to the Parliament House, but I have my own way of paying respect to LKY, I compose a song specially for the founding father of Singapore.
Come over to my site to listen, hope you'll love the song and c ya.
Best Regards
Dennis Ng
Mr. IPO said…
Good for you !