The recipe for one of Singapore’s Michelin-starred hawker stalls is up for sale for at least $2mil (RM6.1mil), Shin Min Daily News reported on Monday.
Liao Fan Hong Kong Soya Sauce Chicken Rice & Noodle, which won a star in the inaugural Singapore Michelin Guide, has been lauded as the cheapest Michelin-starred meal in the world.
Several corporations in China, Taiwan and Vietnam have reached out to him, owner and chef Chan Hon Meng told the Chinese evening daily.
Until recently, the 51-year-old had little interest as those who approached him were not in the food industry.
“They said they will provide the finances, and me the expertise, but it is not so easy. They are willing to open factories, but how will they be run?” he said.
Now, he is in talks with a global food and beverage company which has been expanding rapidly lately, he said. They have the relevant experience and are offering generous conditions, including share options, he told Shin Min.
“Manpower is a longstanding problem in Singapore, so I want to spend some time studying the details and work out a win-win deal for both parties,” he told the evening daily.
He also said that he is considering the offer because he is getting older and does not know how long he can continue running the stall at Chinatown Food Complex.
Kay Lee Roast Meat Joint’s premises and recipe was sold for $4mil (RM12.1mil) to Aztech Group in 2014.
Based on that deal, the recipe alone should be worth at least $2mil (RM6.1mil), said Chan.