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SINGAPORE – The operator of the beleaguered Jurong West Hawker Centre, which was previously reported to have just half its stalls open for business, is not renewing its contract expiring in August, citing lacklustre results.
Hawker Management, a subsidiary of Koufu Group, said in a statement on Tuesday (May 5) that the hawker centre’s results have not met its “ideal performance standards”, and that it will not stay on after its three-year contract expires on Aug 6.
“Koufu, as a public listed company, has an obligation to safeguard our shareholders’ interests, therefore we have made the difficult decision to exit upon expiry of the contract in Aug 2020 to focus efforts on other aspects of our business,” said the operator.
Hawker Management added that it had been set up to manage Jurong West Hawker Centre as part of Koufu’s corporate social responsibility efforts. With the contract’s end, Koufu will look to carry out such efforts in other ways, it said.
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