Kay Lee Roast Meat – Char Siew Shop Sold For $4 MILLION DOLLARS! #huat #sgfood #singapore #守得云开见月明
[Updated 21 Oct 2014] Kay Lee Roast Meat has been sold for a jaw-dropping sum of $4 Million. This is $500,000 more than the original asking fee, because the market value of the shop space went up. Bought over by listed company Aztech whose Chief Executive was a loyal customer, they will look into expanding the shop while retaining its original recipes and staff. Will other hawkers get some hint, and go into a recipe-selling strategy – for marketing or money? We shall see. [Previous Entry] Singaporeans should be familiar with this story – The Kay Lee Roast Meat Joint is selling their business for $3.5 million – the amount includes $2 million for the recipe and $1.5 million for the shop space at Paya Lebar. Owners Betty Kong and husband have received bids of up to $3 million, but they will not accept a cent less. Their children did not want to take over the business. On a we...