Company Overview of Y.E.S F&B Group Pte Ltd.

Further to the announcements made on 15 February 2013 and 27 February 2013 by Soup Restaurant Group Limited in respect of Appeal No. RA 26/2013/X filed by Y.E.S F & B Group Pte Ltd. on 26 February 2013, the company informed shareholders that the Y.E.S F&B Group Pte Ltd.'s appeal in respect of the striking out application (in SUM 19223/2012/K) was dismissed by the Registrar but its appeal in respect of the application by Soup Restaurant (Causeway Point) Pte Ltd. for summary judgment (in SUM 18430/2012/H) was allowed in the hearing on 11 April 2013.

Further to the announcement made on 15 February 2013 by Soup Restaurant Group Limited in respect of District Court Suit No. 3081 of 2012/R and the orders made by the Subordinate Courts of Singapore in SUM 18430 of 2012/H and SUM 19223 of 2012/K, the company wishes to inform shareholders that Y.E.S F & B Group Pte Ltd. has filed a notice of appeal on 26 February 2013 in which the Y.E.S F&B Group Pte Ltd. is appealing against the order of court and judgment given on 14 February 2013 in the above proceedings. The hearing for the Appeal is fixed on 5 April 2013. The company is in discussion with their legal advisors to determine the next course of action and will make further announcements as and when there are material developments in this matter.

THE fracas between the Soup Restaurant Group and Y.E.S F&B Group Pte Ltd. (Dian Xiao Er) might be finally reaching an end. The Subordinate Court has ruled in favour of Soup, compelling Dian Xiao Er's owner, YES F&B Group, to vacate its sub-leased premises at VivoCity and to pay costs. The court will also be assessing the amount of damages that Dian Xiao Er has to pay Soup for 'unlawful occupation' of their premises, plus interest and costs of assessments. Soup's wholly owned subsidiary, Soup Restaurant (Causeway Point), had started legal proceedings against its sub-tenant YES last year, as the latter had failed to vacate its premises when its sub-tenancy expired on October 6. The turf fight came about even as another legal tussle between both firms came to an end. Before relationships turned acrimonious, Soup had initially held the majority stake, or 50.98%, in YES. The remainder of YES was owned by the founders of Dian Xiao Er, Yik Kuen Koon and his wife Eliza Gunawan. The couple had sued Soup in March last year, claiming minority oppression and an invalid removal of Mr. Yik as YES managing director in 2010. Soup, on the other hand, insisted that the suit was a "dispute over the plaintiffs' employment" and that Mr. Yik's removal came about after the couple tried to make an unauthorised bonus payment to themselves 'among other aggravating factors'. The lawsuit was eventually settled out of court, with the couple agreeing to buy over Soup's stake in YES for $7.9 million. Dian Xiao Er has 14 days from to file an appeal against the judgment.