In a gourmet paradise like Singapore, restaurateur Andrew Tjioe knows he has to stand out from the crowd. The competition is so keen that it's no longer enough to have an established restaurant with a "name". Today's diners prefer "new and happening" eateries, says Tjioe (pictured).
No wonder then that the restaurant group Tung Lok (Chinese for "happy together") is making waves in the Lion City. Its group of 20 restaurants "caters to a wide range of customers and tastes. It is not monolithic," says Ellen Chua, CEO of online wining and dining guide, restaurantsweb.com.
Tjioe, 43, was recently named Tourism Entrepreneur of the Year by the Singapore Tourism Board. He was also awarded the title of Restaurateur of the Year for the second time by Wine & Dine magazine.
In the current economic slump, Tung Lok appears to be enjoying a banner season, aggressively putting eight new restaurants on Singapore's food map following the company's listing on the Singapore Exchange in March 2001. Tung Lok raised about S$3.5 million (US$1.9 million) in its IPO, but its share price has dropped to S$0.12 compared with the IPO price of S$0.23.
Tjioe, president and CEO of Tung Lok, however, is unfazed. "The whole market has taken a beating and there is nothing we can do," he says. "I believe that those who invested in Tung Lok shares during the IPO will see us as a long-term play."
Jesvinder Sandhu, senior investment analyst at OCBC Investment Research, says: "Unfortunately, the timing is bad as the new restaurants are starting up during a downturn." But Tung Lok "remains very well-positioned to ride the upturn as most of its restaurants are in strategic locations", she says.
Tjioe is in fact upbeat, saying "an economic slowdown often presents the best opportunity to expand, to try new concepts".
William Goh, managing director of Yeow Seng Shark's Fin, a seafood supplier, says that while it is unfortunate that Tung Lok's rapid expansion came at the time of an economic recession, "it is also a good time, because expenses and rentals are low".
From 1995, Tung Lok deviated from mainstream Chinese cuisine to create theme restaurants such as Lao Beijing, reminiscent of an old Beijing dining hall, Club Chinois, with its fusion of modern Chinese and French food, and the House of Mao, featuring authentic cuisine from Mao's hometown, Hunan.
One of Tung Lok's new restaurants, Asian Restaurant & Bar, brings Parisian chic to an Oriental setting in the premises of the century-old Thong Chai Medical Institution Building in Chinatown. The restaurant, opened in October, has become a popular venue for a cosmopolitan mix of diners. It is a joint venture with Paris-based Copilot Developments.
Tjioe says that while most theme restaurants offer basic fare, his are known for their fine food.
Food is not the only draw. House of Mao, with its posters and souvenirs, generated a lot of interest - and a little controversy - not only locally, but also among the international media and overseas Chinese. There were brickbats and bouquets, but in the end Tjioe was very happy because House of Mao "was probably the most publicised restaurant in Singapore in 1998 - there was so much publicity you wouldn't believe it".
Tung Lok shows its trailblazing spirit here: There are many Mao restaurants in China serving Hunan cuisine, but minus the theme. Today, others have followed the trend and there are Mao bars and restaurants everywhere, says Tjioe.
The group's restaurants, with prized paintings and posters from Tjioe's collection gracing some of them, make "dining fine and fun", says Jesvinder. "What comes to mind is that it operates restaurants that specialise in a wide variety of cuisines such as Beijing, Cantonese, Hunan, Sichuan, Japanese, East-West fusion, seafood and vegetarian."
The company reported net profit of S$296,000 (US$159,840) and revenue of S$28.5 million for the half-year ended June 30, 2001. It attributed the low net profit to "startup and running-in costs incurred by the new outlets, and additional operating expenses for the group."
Tjioe does not expect the second half to be any better because of the number of startups and of course the poor economic climate. "Going forward, I think we should perform well. I have all the confidence because this is like 1998 revisited and we made a strong recovery in 1999 when the economy recovered," he says. "We are financially strong and our cashflow is good."
Despite his passion for food, Tjioe has not always worked in the restaurant business. First he worked for a local company before joining the family textile firm, Oceanic Textiles. He then helped out at Charming Garden, a restaurant serving Hunan cuisine that was opened by his father, Zhou Yingnan, in 1980. Tjioe launched Tung Lok Restaurant in 1984 and has not looked back since.
Manufacturing is now a priority as the company prepares to move into its own 1,300-square-metre factory early this year. The move will expand Tung Lok's range and output of dim sum and its "best-seller" mooncakes, among other products.
Tjioe says the main ingredients for success at Tung Lok are his employees, and creativity tops the corporate culture chart. Creative ideas require collective effort, says Tjioe, who has a high regard for his chefs.
Food is "not about filling the stomach only", he says. "It is an art. For that I expect my chefs to be artists, meaning that they should not only take care of taste, but also other details. They are ambassadors to create an unforgettable experience for anyone who comes to our restaurants."
He finds the restaurant business very satisfying. "I can tell you I am having a good time. Every time I create a new restaurant, especially when it's making money, I can't wait for the next one," he says.
So what's Tjioe cooking up next? More new ideas and new dining experiences "that will create a lot of waves", he says. "We are not stopping here."
Tjioe is "a hard-headed and hardworking business executive who attends to every detail. He knows practically every one of his more than 850 employees!" says Chua.
Most of his employees know him too, and he makes it a point to visit a few of his restaurants every day.
However, Tjioe complains that he can't pursue his favourite pastime - wining and dining - in peace and quiet in his own restaurants. "If I want to have some peace, I go to others' restaurants. But unfortunately, or fortunately, I only really enjoy good meals in my own restaurants," he says.
Tung Lok Restaurants
298 Tiong Bahru Road
#14-02/04 Central Plaza
Singapore 168730
Tel: (65) 270-7998