New owner of S$40 million Yishun coffeeshop promises not to raise coffee & cai png prices

While rental prices will be adjusted, he has declined to reveal details.

Lee Wei Lin| July 03, 2022, 07:31 PM

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The owner of the Yishun coffeeshop that recently changed hands for S$40 million is one of Singapore's largest F&B groups, Chang Cheng Group.

The group's chairman Ricky Kok has pledged that he will not raise coffee and cai png prices when he officially takes over on Oct. 1, 2022.

Kok told Shin Min Daily News (SMDN) that he is aware that rising prices have been causing stress for many, and he hopes to alleviate some of these concerns by doing so.

He will, however, be adjusting rental prices at the coffeeshop but declined to go into detail.

Humble beginnings

Kok, born in Malaysia, dropped out of school at 15 and came to Singapore with his older sister to work.

In 1994, he started his first cai png stall at a coffeeshop, and things went so well that he established Chang Cheng Group in 2001.

Today, the group has over 160 shops in Singapore. Among their subsidiaries is coffeeshop chain Chang Cheng Mee Wah, seafood specialist Ming Kitchen and roasted meats chain Rong Kee.

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Top photos by Shin Min Daily News & Chang Cheng Group