According to the announcement by K2 F&B (02108), its indirect wholly-owned subsidiary, Food Dynasty (as lessee), has entered into a lease agreement with the Orchard Entertainment Centre Pte Ltd (as lessor) on June 19, 2024, involving the rental of the premises from December 15, 2024 to December 14, 2029 (inclusive of both days).

It is reported that the place is located at Cineleisure, #B1-01 & #B1-01A, 8 Grange Road, Singapore 239695.

The announcement stated that the place is located in the shopping center in the central area of Orchard Road, surrounded by office buildings and high-end residential apartments. It will be operated by the group as a food court, located on the underground level of a mature shopping center and office building in the heart of the upscale residential area, adjacent to a medical care center that serves the medical tourists in the area.

Entering into the lease agreement is in line with the general and daily business processes of the group, consistent with the current (and existing) business strategy and behavior of the group, and can expand its market share and operating scale in Singapore's dining industry.

This move will generate commercial benefits, including predictable growth of the group's revenue, surplus, and market share, as well as improving economies of scale and cost certainty.