Chizu Cafe Parent Company Daruma Capital Targets Singapore IPO with MCI Capital

Chizu Cafe Parent Company Daruma Capital Targets Singapore IPO with MCI Capital

Mr Paul J. Kuo, Partner and Head of Capital Markets at Evolve Capital Pte Ltd; Dato’ Cannis Chan, Chairman and Partner of MCI Capital Sdn Bhd; and Ong Leong Fuei, Managing Director of Daruma Capital Sdn Bhd, sign the appointment agreement for Daruma Capital’s proposed listing on the Singapore Exchange (SGX).

Malaysia-based food and beverage company Daruma Capital Sdn Bhd (Daruma Capital), which operates the Chizu café chain, Yaki Soul, and Daruma Pastry Supply, plans to list on the Singapore Exchange (SGX) in Singapore.

Managing Director Ong Leong Fuei said the proposed listing marks a significant milestone in the company’s growth as it seeks to broaden its capital markets footprint and tap into the deep liquidity and international investor base of the Southeast Asian markets.

"This is more than just a listing. It is a strategic step forward in our mission to build Southeast Asia's most beloved and trusted food and beverage ecosystem, bringing Japanese-inspired café lifestyle and social dining to regional and international markets," Ong said.

Daruma Capital is partnering with MCI Capital Sdn Bhd as its financial advisor for the initial public offering (IPO). MCI Capital noted that their engagement as advisors will include overall capital markets strategy, listing readiness, liaison with and coordination of professionals, and assistance with capital structure optimisation for the Singapore Exchange listing.

MCI Capital's Chairperson Dato' Cannis Chan stated that Daruma Capital embodies the type of innovative, high-growth food and beverage player that operates its own chain and central kitchen, servicing other brands, which resonates with international investors, particularly on the SGX.

"We look forward to partnering with Mr Ong and his team at Daruma Capital to facilitate enhanced capital market access, strengthen their regional brand presence, and develop a comprehensive strategy for growth throughout Southeast Asia," said Dato' Chan of the established private equity and corporate finance advisory firm.

"Daruma Capital's proven track record in Malaysia's competitive F&B sector, combined with their scalable business model and strong brand portfolio, positions them perfectly for Singapore's sophisticated capital markets," Dato' Chan added.

The proposed SGX listing will provide Daruma Capital with access to Singapore's deep pool of institutional and retail investors, including international funds focused on Southeast Asian consumer growth stories.

"Singapore Exchange offers us the ideal platform to access regional and global capital while maintaining our operational focus on delivering exceptional food experiences across Malaysia and the broader Southeast Asian region," Mr Ong explained.

"The timing is particularly favourable as consumer spending across Southeast Asia continues to show robust growth, and international investors are increasingly focused on high-quality regional F&B brands with proven scalability."

Daruma Capital's portfolio encompasses leading brands including Daruma Pastry Supply, the rapidly expanding Chizu Cafe chain, and Yaki Soul, where it delivers innovative culinary solutions and services across the quick-service restaurant, cafe, and central kitchen sectors.

The company has demonstrated consistent growth in Malaysia's competitive food and beverage market, with particular strength in operational efficiency, supply chain management, and customer loyalty across its multiple brand portfolio.

"Our central kitchen operations provide us with the scalability and quality control that international investors value, while our established brand presence gives us the market credibility needed for regional expansion," Mr Ong noted.

MCI Capital, known for its expertise in cross-border transactions and Southeast Asian capital markets, brings significant experience in advising Malaysian companies on international listings.

"We have a deep understanding of what international investors look for in Southeast Asian F&B companies, and Daruma Capital checks all the boxes – proven management, scalable operations, strong financials, and clear growth strategy," said Dato' Chan.