Food & Beverage
Coffee spending to rise 8.2% to $2.2b by 2024 in Indonesia
Coffee spending to rise 8.2% to $2.2b by 2024 in Indonesia
Rising middle class and the new levy on sweetened products will boost its demand.
SATS cuts board and executives' pay
President and CEO Alexander Hungate's salary was cut by 15%.
Daily Briefing: About 14,000 hawkers to get rental fees waived; NEA introduces Deposit Refund Scheme for beverage containers
And logistics startup Moovaz raised an undisclosed series A funding from SC Angels.
CapitaLand refutes RAS' claims on dented rental relief packages
The company is giving up to 30% in rental rebates for its downtown mall tenants.
RAS calls out lack of rental rebates for F&B businesses
It cited CapitaLand which only offered a 10% rebate instead of the promised 50%.
SATS acquires UK-based Monty's Bakehouse for $48.4m
Monty’s Bakehouse will become a wholly-owned subsidiary of SATS.
BreadTalk waits on notice to repay notes in financial covenant breach
The covenant involves $100m 4% fixed rate notes.
Deliveroo's orders grew 20% amidst COVID-19 outbreak
In 2019, orders on the platform surged 50% YoY.
Souring Vietnam sentiments on beer may hit ThaiBev
The country’s new anti-drunk driving law took its toll on Sabeco’s beer volumes.
ThaiBev's Q1 profit up 14% to $375.63m
Net profit of its beer business skyrocketed 158.4% YoY.
60% of F&B businesses are not prepared for COVID-19
Restaurants are expecting revenue to be halved in the next three months.
RAS urges landlords to ease F&B rents
Jewel Changi was the first to respond, as they will cut rents by 50%.
OUE acquires majority stake in Indonesia-based coffee chain operator
Maxx Coffee will become an indirect subsidiary of the group.
Fraser & Neave's profits rose 4.3% to $58.3m in Q1 FY 2020
Higher sales from the company’s beverage and dairy products boosted quarterly earnings.
Tighter alcohol regulation in Vietnam could worsen ThaiBev's sales
The new drink-driving law already caused beer sales in the country to drop 25%.
Foodpanda floats 24/7 on-demand service for groceries, household items
Pandamart offers over 2,000 products and new partners like FairPrice Xpress.
Daily Briefing: EDB unveils new startup programme; NEA and SkillsFuture Singapore launches Hawkers' Development Programme
And a third of businesses plan to restructure amidst trade disputes.
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