PT Delta Bridge Foods is a non-Halal food manufacturing business in Bulan, Indonesia.
The group said that the JV Co's subsidiary had faced challenges due to unforeseen outbreak of African Swine Fever on the Riau Islands, Indonesia in May 2023. As a result, its Indonesia supplier has halted its pork supplies due to a shortage of raw materials, which resulted in share of losses and impairment charges pertaining to the JV Co recognised by the Group in FY2023. To date, there is no clear timeline for the plant to fully resume operations.
Meanwhile, the group has in Nov 2023 announced that its subsidiary acquired a factory in Malaysia. This disposal will enable the group to focus its resources on its operations in Malaysia and strengthen its cash flows.
See more: OTS Holdings to acquire Malaysian factory and land for RM14.3 mil
See also: Patrizia, Mitsui invest US$350 mil in Singapore ‘cooling-as-a-service’ firm Kaer
Shares in OTS closed at 14.3 cents on Dec 26.
