The JV taps local partners to develop NASBKT franchise rights in Shanghai. Jumbo Group Limited has entered into a joint venture (JV) agreement to expand its Ng Ah Sio Bak Kut Teh (NASBKT) brand in Shanghai and other locations in China. In an SGX filing, Jumbo said the JV company will hold the area franchise rights for the NASBKT brand in Shanghai and other locations in China as agreed by the parties. Ltd. for the use of the NASBKT brand and related intellectual property rights. The joint venture will run for 10 years from the date of the agreement or for as long as the NASBKT franchise agreement remains valid, whichever is later.