China’s Nayuki gets clean chit on food safety after regulatory checks

Photo by Bruce Röttgers on Unsplash

Chinese teahouse company Nayuki Holdings said on Wednesday inspections by regulators of its stores had unearthed no food safety violations as described in a Xinhua report and that it was not fined or penalised.

Nayuki, which sells drinks such as fruit teas topped with cheese foam, became the latest company to attract the attention of regulators in China following state media reports.

State news agency Xinhua reported on Monday that some of Nayuki‘s stores had cockroaches and staff there used rotten fruit to make drinks. It listed two Nayuki stores in Beijing as guilty of the violations.

Following the report, the southern province of Guangdong said in a statement on Tuesday it held talks with Nayuki on the matter.

Nayuki said in a statement on Wednesday regulatory officials from different cities had made hygiene checks on 186 of its total 603 teahouses across China but found no issues as described by the Xinhua report.

The chain also said it had not been subject to any fines or penalties by regulators. It added that it has set up a task force to investigate food safety issues and that the two Beijing teahouses listed in the media report have suspended operations to facilitate the investigation.

Sweeping moves by Chinese regulators against the property, education and technology sectors in recent months have spooked investors globally and raised concerns that other industries could be vulnerable.

On Tuesday, Chinese technology giant Tencent Holdings saw $60 billion wiped off its market value in early trade after a state media article described online games as “spiritual opium” and re-ignited investor fears about state intervention.

Reuters

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.