Singapore Expats Forum

Munch Franchising Singapore

Discuss your views about Singapore business & economy, current policies & issues, starting a business in Singapore.
Tomcathie
Newbie
Newbie
Posts: 1
Joined: Tue, 30 Jan 2018

Munch Franchising Singapore

Postby Tomcathie » Tue, 30 Jan 2018 5:32 pm

Did some background check on the franchise on Munch as a few of my friends and I were looking for investment opportunities a few months ago. Recently, I came across the company advertising to recruit new franchisees and is rather perplex by their action.

Maybe a word of caution for those considering business venture for franchising with the said company. The director, Edwin Clement Ng Lim Yeong, as I last check in Ministry of Law website is an undischarged bankrupt and has closed numerous outlets in the last few years. The operation of the company has also been downsizing and as I spoke to a few sources, they don't even own any of the Munch's outlet (I might be wrong). Company's financial situation is probably in dire state and ACRA doesn't show up the company latest financial statements as of last look. As the only director, the owner would probably has been declared bankrupt due to personal guaranteed on the company's debt. If in doubt, best to scan through ministry of law website on the bankruptcy list.

Do be cautious and be smart about franchising as a general rule of thumb. Even if ACRA ownership has changed, or directorship has changed..There can always be layered. It is better to be safe than sorry. Especially it is your hard-earned money which you are looking to invest.

Do your own due diligent. This is just my own opinion and research here.

https://singapore.franchiseasia.com/suc ... 2669/3812/

  • Similar Topics
    Replies
    Views
    Last post

Return to “Business in Singapore”

Who is online

Users browsing this forum: No registered users and 2 guests