, Singapore

QAF renews licensing agreement with Gardenia manufacturer

But licensing fees have been trimmed.

Mainboard-listed QAF revealed that its licensing agreement with Gardenia Bakeries (KL) has been renewed for another five years.

However, the licensing fee payable by Gardenia Bakeries to QAF has been reduced by 5.25% to 1.5%, subject to maximum gross sales of RM800m per year.

Gardenia Bakeries is currently a 50:50 JV between QAF and Padiberas Nasional Berhad (BERNAS).

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