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QAF studying ways to restructure M'sia unit

Move appears to be made to comply with equity condition under Malaysia's former New Economic Policy

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Published Mon, Apr 27, 2015 · 09:50 PM

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QAF Limited

Singapore

QAF, known for its Gardenia and Bonjour brands of bread, said that it was evaluating options to restructure Gardenia Bakeries (KL) Sdn Bhd (GBKL), a 70 per cent-owned Malaysian subsidiary that contributes a significant amount of revenue and profit.

The move appears to have been sparked by a Malaysian government agency asking about its compliance with a former national policy on foreign equity ownership.

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