Date
19 September 2017
There will be more 759 stores after CEC leased more than 24,000  square feet of shop space in three locations. Photo: HKEJ
There will be more 759 stores after CEC leased more than 24,000 square feet of shop space in three locations. Photo: HKEJ

759 noodle shop talk sends CEC stock surging

CEC International Holdings Ltd. (0759.HK) surged 10 percent Tuesday on news it’s preparing to open its first 759 wonton noodles restaurant in Hong Kong.

It mattered little that founder Lam Wai-chung said the restaurant, expected to open in Cheung Sha Wan in two months, is on a trial basis and no development plans have been made, Ming Pao Daily reported Wednesday.

Earlier, reports said the company will team up with Hong Kong Television Network Ltd. (01137.HK) to develop online shopping ventures.

Lam said the noodles shop idea was a matter of coincidence.

It was when his favorite noodle shop near his Kwun Tong main office closed down that he decided to recruit one of its chefs. “The chef has been making coffee in my office for over a year, eagerly waiting for the noodle shop to open.”

Lam said chain franchises such as Tsui Wah and Cafe de Coral are not his rivals as he is not a fan of centralized kitchen operations. He is investing up to HK$3 million (US$386,900) in the start-up.

The company has leased 24,000 square feet of shop space in Kowloon Bay, Ma On Shan and Yuen Long for three new 759 stores which are expected to include a new section for infant products.

Meanwhile, Hong Kong Institute of Investors founder Ricky Tam said Lam should have disclosed the information via an official press release to avoid regulatory issues although he may not have breached any rules.

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