Phoon Huat seeking a buyer: sources

Singapore

PHOON Huat & Co, the Singapore company that's been selling baking ingredients such as pie fillings and confectioners' sugar since 1947, is seeking a buyer, people with knowledge of the matter said.

The company has sent out preliminary information to potential bidders and asked for first-round bids next month, according to the people. The Wong family that controls Phoon Huat is seeking about S$250 million from the sale, which includes the company's real estate, one of the people said, asking not to be identified as the information is private.