Popular China St Fritters Hawker Not Closing Stall, Reduced $1Mil Asking Price For Recipe To $800k

It was well-known that the Ngs, who intended to retire, were sourcing for buyers for their recipes which they priced at S$1 million. In a media interview, Kok Hua revealed that his family planned to close their stall in March 2022 should they fail to find a buyer, as none of the hawkers’ kids were willing to take over the business.

They have also lowered their asking price for their recipes, from $1mil to a “negotiable” $800,000. “We are willing to lower the price further if [the buyer has] genuine interest and passion,” says Kok Hua, who took over the business from his father when he was 16. He explains: “The $1 million is just a figure. What’s most important is that [the person we’re selling it to] has the passion to continue our legacy, so that the next generation can continue to enjoy our food.

Other deals that didn’t pan out include a lowball offer of just $100,000, as well as offers by a “hardware and shipping company” to set up a partnership with the hawkers instead of taking over outright. He is now in discussion with another interested buyer for his biz, but he declines to reveal more details.In the meantime, China Street Fritters will remain open with shorter operating hours. Starting from April 1, the stall – which is currently open six days a week – will only open on four days, with no fixed schedule. They may also open for six days a week with reduced hours instead. Confusing, we know. But Kok Hua advises his customers to call ahead to ensure he’s open before heading down.

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