Deep-dive 2021-12: QAF

QAF Limited (QAF SP) is the largest bakery company in Singapore, Malaysia and the Philippines.

The company owns two major brand names called Gardenia and Bonjour and operates in the short shelf-life bread segment, supplying supermarkets, convenience stores, restaurants, etc.

On 8 June 2021, QAF announced that it would divest its unprofitable and cyclica…

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