NEWSLETTER

Sign up to read weekly email newsletter
Asia Tech Times
Donate
Search
  • Home
  • Breaking News
  • Business
  • Finance
  • Medical
  • Political
Reading: Leading Philippine Noodle Manufacturer Flags $126 Million Writedown For Option Meats Device Quorn
Share
Font ResizerAa
Asia Tech TimesAsia Tech Times
  • Finance
  • Technology
Search
  • Home
  • Categories
    • Finance
    • Technology
  • More Foxiz
    • Blog Index
    • Forums
    • Complaint
    • Sitemap
Follow US
Made by ThemeRuby using the Foxiz theme. Powered by WordPress
Breaking News

Leading Philippine Noodle Manufacturer Flags $126 Million Writedown For Option Meats Device Quorn

By Asia Tech Times
Last updated: 16/05/2025
3 Min Read
Share

Quorn meat-free product packaging made by Quorn Foods Ltd. … [+] Firm function at Stokesley manufacturing facility in the UK

© 2015 Bloomberg Money LP

Monde Nissin, the biggest Filipino immediate noodles manufacturer regulated by Indonesian magnate Hartono Kweefanus and his family members, might have scheduled a loss-deduction cost of as much as ₤ 100 million ($ 126 million) in 2014 for the loss-replacement meat company.

While these costs are narrower than the listing of ₤ 145 million and ₤ 290 million scheduled in 2023 and 2022, financiers would like to know when Quorn’s company will certainly transform. Monde Nissin’s share rate dropped 6.2%, in mid-day trading in Manila.

Monde Nissin stated on Wednesday that the UK-based Quorn “remains to run in difficult atmospheres”. Thankfully my maker! Instantaneous Pasta acquired Quorn for 550 million extra pounds in 2015, and has actually because invested $340 million to broaden the different meat brand name to the USA and Asia.

In 2023, Monde Nissin’s regulating investor team (Kweefanus) (the firm’s chairman), chief executive officer Henry Soesanto and his sibling Betty Ang, placed it A section of the shares (comparable to 12% of the firm’s superior shares) works as an assurance for Quorn’s Wittitedowns.

Regardless of documenting Quorn, Monde Nissin stated there is a versatile returns this year, including that Quorn wishes Quorn will certainly launch a favorable EBITDA in the last 3 months of 2024.

As anticipated development in different meat, Quorn is underway for a ₤ 15m overhaul to minimize the dimension of the system. The restructuring was revealed in November, consisting of the consultation of a brand-new chief executive officer, the closure of the manufacturing facility and the discharges of Monde Nissin, that stated it would certainly aid Quorn go back to the black.

According to the information, Soesanto, Kweefanus, Ang (Head Of State of Monde Nissin) and their family members have a total assets of over $2 billion, with their total assets greatly based upon the worth of their control. Forbes Asia Ang wed Kweefanus’ sibling and co-founded Monde Nissin in 1979 with his late father-in-law Hidajat Darmono. Soesanto has actually wed Darmono’s child Monica, the firm’s treasurer.

TAGGED:AlternativeFlagsmakerMeatsmillionnoodlePhilippineQuornTopunitWritedown

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Share This Article
Facebook Email Copy Link Print

SUBSCRIBE NOW

Subscribe to our newsletter to get our newest articles instantly!

HOT NEWS

Malaysia’s Sunway Team Chairman Jeffrey Cheah States The Very Best Is Yet To Find

Jeffrey Cheah. Ian Teh Forbes Asia This tale belongs to Forbes’ record on Malaysia’s wealthiest…

09/06/2025

China’s CATL Really feels the Pinch of a Lithium Cost Downturn it Developed

Years of long-lasting decreases in lithium costs are currently beginning to take a toll on…

19/03/2025

OpenAI strategies Sora video clip generator combination right into ChatGPT

Sora was released in December 2024 as a standalone internet application, making it possible for…

19/03/2025

YOU MAY ALSO LIKE

Huawei’s 2 New Smartwatches Bring Advanced Wellness Monitoring And Ideal Battery Life

Huawei: 2 brand-new smartwatches for the Fit 4 Pro (left) and Enjoy 5 (right). Ben Xin Huawei’s wearable collection is…

Breaking News
16/05/2025

Amazon Venture Fund to invest $120 million in Indian startups

The plan focuses on digitizing operations and expanding domestic and global markets.

Tech
08/04/2025

Sociologist appears alarm system on Philippine political wagers’ ‘normalisation’ of prejudiced statements

April 8, 2025 Manila – A sociologist claimed Monday that political leaders’ “normalization” of prejudiced unsupported claims can have damaging…

Political
08/04/2025

Indonesian Billionaire Brothers’ Djarum Group Unveils Electric SUVs Amid Intense Competition

Polytron G3. Polytron Polytron– Household appliance manufacturer controlled by billionaire brothers R. Budi and Michael HartonoDjarum Group – Entering the…

Breaking News
21/05/2025

Asia Tech Times (ISSN: 3079-8566) stands as a preeminent authority in technology journalism, delivering profound insights and strategic intelligence on the technological advancements shaping the Asia-Pacific region and beyond. Renowned for its depth of analysis and editorial excellence, the publication serves as a critical nexus for industry leaders, policymakers, scholars, and innovators navigating the evolving digital landscape.

  • Jobs Board
  • About Us
  • Contact Us
  • Privacy Policy
  • Exclusives
  • Learn How
  • Support
  • Solutions
  • Terms And Conditions
  • Editorial Policy
  • Marketing Solutions
  • Industry Intelligence

Follow US: 

Copyright © 2025 Asia Tech Times. All Rights Reserved.

All content published by Asia Tech Times (ISSN: 3079-8566), including but not limited to articles, reports, editorials, graphics, images, logos, and digital media, is the exclusive intellectual property of Asia Tech Times and is protected under international copyright laws and treaties.

Asia Tech TimesAsia Tech Times
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?