Chokdee to raise funds from MAI for expansion

       Chokdee Dimsum Restaurant plans to grow domestically and venture abroad in the next three years with funds to be raised from the stock market.
       Managing director Dheeraphop Siraprapathum said last week that the company was working with a financial adviser to prepare for listing on the Market for Alternative Investment (MAI).
       According to the listing plan, it has already separated its business into three companies.
       Chokdee International Food operates the central kitchen and distributes frozen dim sum to all branches nationwide.
       Chokdee Dimsum Restaurant operates the dim sum restaurants.
       And Chokdee International Franchise oversees its franchised restaurants.
       Listing on the MAI would be the springboard for expansion, Dheeraphop said.
       Domestically, Chokdee Restaurant would like to enter department stores and shopping centres, while it would like to penetrate overseas markets such as China.
       "To have a restaurant in one shopping mall, we need at least Bt4 million. Meanwhile, if we would like to have a Chokdee Dimsum Restaurant overseas, we have to set up a central kitchen. Therefore, the investment will increase to Bt20 million per branch, which is too much for us. We need to mobilise funds from the bourse," he said.
       The enterprise would grow rapidly after listing on the MAI, he said.
       Since its establishment in 2000, it has multiplied to 18 branches, of which nine operate around the clock.
       "We are the first dim sum restaurant in Thailand that sets reasonable prices, which everyone can afford and is open for 24 hours. This is our strength. We can utilise every resource such as employees for the most effective results to gain more money. And night-time is a good period for making money," he said.
       The company plans to increase its coverage by six branches this year, of which three have already been created by franchising both in Bangkok and upcountry.