SINGAPORE (Yosefardi) – Petra Foods Limited will cease its distribution business in Singapore, and that in this connection, Delfi Singapore Pte. Ltd., its wholly owned subsidiary, shall be looking towards the novation of its agency brands portfolio and the sale of the inventory related to these agency brands to Auric Pacific Marketing Pte. Ltd., a subsidiary of SGX-ST listed Auric Pacific Group Limited before 30 June 2015.

For many years Delfi Singapore’s distribution business has not been profitable. This is due to the relatively small scale which the business has been able to achieve – despite strenuous efforts to build the business to a point where it could yield positive returns for the Group.

The decision to exit the distribution business in Singapore will however, not detract from Petra Foods’ objective of continuing to grow the presence of its Own Brands of chocolate confectionery in Singapore which will be achieved through the appointment of Auric Pacific as distributor.

Petra Foods Limited and its subsidiaries (the Group) manufactures and/or distributes branded consumer products that are sold in over 17 countries including Indonesia, Singapore, Malaysia, Hong Kong, Australia, Thailand, the Philippines and China.

Petra Foods has an established portfolio of chocolate confectionery brands which are household names in Indonesia. Its flagship brands in Indonesia include “SilverQueen” and “Ceres” that were introduced in the 1950s and “Delfi” in the 1980s.
In addition, the Group also distributes a portfolio of well-known agency brands in Indonesia, Singapore, Malaysia and the Philippines.