The Business Times
business-time-50
SUBSCRIBERS

Flash Coffee in major consolidation amid Taiwan bankruptcy, sale of Thailand unit

google-preferred-sourceAdd BT as a preferred source

Claudia Chong &

Atelier Shen

Published Wed, Nov 22, 2023 · 07:58 PM
    • Flash Coffee is being wound up in Taiwan and Singapore, and has sold off its business in Thailand to focus on other markets, such as Indonesia.
    • Flash Coffee is being wound up in Taiwan and Singapore, and has sold off its business in Thailand to focus on other markets, such as Indonesia. PHOTO: BT FILE

    FLASH Coffee has retreated from several markets, three years after it raised funding and started blitzscaling across Asia.

    The company has declared bankruptcy in Taiwan, citing challenges in paying off debt due to operational difficulties.

    Its Taiwan subsidiary owes at least NT$120 million (S$5.1 million) to its creditors, a court document seen by The Business Times showed. The application for bankruptcy there was filed on May 6.

    Flash CoffeeBankruptcyCoffeeSpotlight

    TRENDING NOW

    The CSRC is leading the effort, along with the National Financial Regulatory Administration, which handles consumer protection and supervises banks.

    Why China is tightening controls on overseas stock trading

    US President Donald Trump with President Xi Jinping after a visit to Zhongnanhai Garden in Beijing, on May 15.

    Xi Jinping has just rewritten the rules of US-China rivalry

    Always one to walk the talk, DBS CEO Tan Su Shan has her personal AI agent that checks and serves up to her the latest news on banking.

    ‘Even a CEO’s job can be replaced by AI’: DBS CEO Tan Su Shan bets big on agentic AI

    Set up by Nichol Ng and her brother, FoodXervices traces its roots to 1934 with the business their grandfather started.

    ‘Whole deck of cards just toppled’: FoodXervices’ Nichol Ng on how a 92-year-old family business unravelled – and what’s next

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More