The History of Petra Foods
Headquartered in Singapore and listed on the Mainboard of the SGX-ST since November 2004, Petra Foods Limited (“Petra Foods”) markets and distributes its Own Brand of confectionery products in its core markets of Indonesia, Philippines, Singapore and Malaysia. In addition, our confectionery products are sold in over 10 other countries including Thailand, Brunei, India, South Korea and Vietnam.
The Gro has an established portfolio of confectionery brand names in Indonesia including "SilverQueen" and "Ceres" which were introduced in the 1950's and "Delfi" in the 1980's. In the Philippines, its flagship brands are "Goya" and "KnickKnacks". With the Gro's longstanding presence and legacy in these markets, our s have delighted many generations of Indonesians and Filipinos, who grew eating them.
In addition to a well established portfolio of confectionery brands and an extensive sales and distribution network in its core markets, the Gro's confectionery business is sported by two manufacturing facilities, one in Indonesia and the other, in the Philippines. The Gro also distributes a well known portfolio of Agency Brands.
Petra Foods has been delighting generations of lovers in the region for over 50 years. Founded by the Chuang family in the 1950's as a manufacturer in Indonesia, our Branded Consumer Business has since evolved into a regional consumer powerhouse with a strong presence in our core markets of Indonesia and the Philippines.
With an established portfolio of confectionery brands, including 10 master brands such as "SilverQueen", "Ceres" and "Delfi" and more than 20 key sub brands, we are the market leader for branded confectionery products in Indonesia. Our brands are also found throughout the region in Singapore, Malaysia, Thailand and the Philippines.
In the late 1980s, the Gro ventured into the Cocoa Ingredients Business with a cocoa processing plant in the Philippines. This was followed by the acquisition of processing plants in Mexico, Brazil and Europe in quick succession. Over the next decade, Petra Foods grew to become the largest bean grinder in Asia and the fourth largest in the world after ADM, Cargill and Barry Callebaut, providing cocoa ingredients to companies in over 60 countries. Our customers included household names such as Nestle, Cadbury and Mars. In 2013, we sold this business at a premium to Barry Callebaut as part of a strategic move to allow the Gro to focus on growing our regional Branded Consumer Business.
The gro was listed on the Mainboard of the Singapore Stock exchange in 2004.
On the 30th June 2013, the completion of the disposal of its Cocoa Ingredients Division had taken place. As such, Petra Foods Limited ceased to be in the cocoa ingredient processing business it continues to be engaged in and focused on growing its branded consumer business.
On the 12th December 2012, announced that it had entered into a conditional sale and purchase agreement with Barry Callebaut AG and Barry Callebaut for the sale of the Cocoa Ingredients Division.
Zurich based Barry Callebaut is the world’s leading manufacturer of high quality cocoa and products. Barry Callebaut is present in 30 counties, operates around 45 production and employs a workforce of about 6,000 employees.
Entered into a joint venture with Ser Gro Ltd to market and distribute instant 3-in-1 coffeemix products and other convenience beverages in Indonesia.
Acquired the remaining 32% stake in the Petra-Armajaro Joint Venture, making it a wholly owned subsidiary of Petra Foods.
Completed the grading of the Hamburg cocoa ingredients processing facility.
Entered European market for cocoa ingredients through a joint venture with UK-based partner Armajaro Trading Ltd which owns a cocoa ingredient manufacturing facility in Hamburg and a cocoa butter facility in France.
Started investment activities in Hamburg facility.
Strengthened regional presence with acquisition of existing confectionery businesses from Nestlé in the Philippines.
Acquired the “Hudson’s” trademark for functional throat candies.
Acquired well-established distribution networks - Sime Darby Marketing Sdn Bhd and Petra Sime Marketing - in Malaysia and Singapore respectively.
Listed on the Mainboard of the Singapore Exchange in November.
Acquired two cocoa processing plants in Mexico and Brazil from Nestlé SA and entered into agreements to sply cocoa ingredients to Nestlé in those countries.
Entered into a joint venture with Meiji Seika Kaisha of Japan to manufacture “Meiji” branded confectionery and biscuits in Indonesia.
Started cocoa ingredients operations in Thailand.
Entered into the cocoa ingredients business and built a cocoa processing factory in the Philippines.
Commenced distributing third party brands in Indonesia.
Established and incorporated in Singapore as Petra Foods Pte Ltd.
Established the “SilverQueen” and “Ceres” brands in Indonesia
Board of Directors
Pedro has served as Chairman and Independent Director of our Company since 6 June 2001 and 12 June 2001 respectively. President of MGS Mata Global Solutions, Pedro is a senior advisor to Quad-C (a USA-based private equity fund) and the CEO of Classic Party Rentals. Headquartered in Los Angeles, Classic Party Rentals is the leading US party and event rental company.
For 29 years, Pedro served W.R. Grace & Co. as President and CEO of several divisions, including serving for 6 years as Chief Executive Officer of Grace Cocoa. Grace Cocoa was the world’s largest and premier splier of cocoa ingredients to the confectionery, dairy, bakery and beverage industries.
Pedro is a member of our Audit, Remuneration, Nominating and Risk Management Committees.
Mr Pedro Mata-Bruckmann
Davinder has served as a Non-Executive Director of our company since 12 June 2001. Currently the Chief Executive Officer of Drew & Napier LLC, he was one of the First Senior Counsels ever to be appointed in Singapore when that position was created in 1997. In December 2008, he was appointed by the Monetary Authority of Singapore to advise on legal issues arising from the Lehman Brothers collapse.
A practising lawyer for over 25 years, Davinder has also been appointed as an arbitrator and mediator. Between 1988 and 2006, Davinder was a Member of Parliament of Singapore.
Davinder is a member of our Remuneration Committee and Nominating Committees.
Mr Davinder Singh
Mike was appointed as an Independent Director of our company on 6 May 2005. Mike has over 30 years of business experience in the investment and finance industries with over 20 of those years being spent in Asia. Between 1990 and 2000 he was with CLSA, most latterly as Managing Director of Cr Lyonnais (Singapore) Merchant Bankers Pte Ltd. From 2001 to 2004 he worked for the private equity investment arm of Prudential Plc most latterly as a Director of PPM Ventures (Singapore) Pte Ltd. Between 2004 and 2013 he was the Gro Finance Director for the Epic Shipping Gro. He is now the Finance Director of AIM-listed Myanmar Investments International Limited.
Mike is a Fellow of the Institute of Chartered Accountants in England and Wales and a member of the Singapore Institute of Directors.
He is the Chairman of our Audit Committee as well as our Risk Management Committee.
Josephine was appointed as Non-Executive Director of our company on 12 June 2001. Josephine has been based in Hong Kong and active in the Asian investment area for over 30 years. She is a director and co founder of Anthem Asia, an independent investment and advisory gro with a focus on Myanmar. She sits on the investment committees of Chepstow Capital Advisors and the Vietnam Investment Gro. Josephine is a trustee and investment committee chair of the Hong Kong based Croucher Foundation and director and co founder of the Village People Project, a Hong Kong based NGO sporting projects which benefit women and children in rural China. Formerly she served as the Deputy Chief Executive Officer of CLSA Capital Partners which she joined in 1995 to set its private equity activities.
She is a member of the Hong Kong Institute of Directors, the Hong Kong Securities Institute and the Law Society of England and Wales, and of the Law Society of Hong Kong.
Josephine is the Chairperson of our Nominating Committee and a member of our Remuneration Committee.
In 1984, John established the company and was appointed to our Board at that time. John has over 30 years experience in the , confectionery and cocoa industries and he constantly visits the operations around the globe that make Petra Foods, coordinating the actions and activities that deliver our growth. John was appointed as Chief Executive Officer on 5 November 2004.
John is a member of our Nominating and Risk Management Committees.
John Chuang Tiong Choon
Gro Chief Executive Officer
Joseph was appointed to our Board on 2 March 1999 as an Executive Director. He has over 30 years of experience in senior management positions within the , confectionery and cocoa industries. Joseph is responsible for the overall management and business development of the Branded Consumer Division in Indonesia.
Joseph Chuang Tiong Liep
Branded Consumer Division (Indonesia)
William was appointed to our Board on 31 May 2001 as an Executive Director and has over 25 years of experience in senior management positions within the , confectionery and cocoa industries. William is responsible for the overall operations and the management of the Branded Consumer Division in our core market of Indonesia. William is also responsible for all of the joint ventures of the Branded Consumer Division.
William Chuang Tiong Kie
Chief Operating Officer
Branded Consumer Division (Indonesia)
Poh Tiong was appointed as an independent director of our company on 19th December 2011. Poh Tiong is currently the Chairman and Senior Advisor of Ezra Holdings Limited, a Director and Advisor of Fraser and Neave Limited, and Chairman of Times Publishing Limited. Prior to this, he was CEO, Food & Beverage, of Fraser and Neave Limited until his retirement in October 2011, and before that, he was Chief Executive Officer of Asia Pacific Breweries Limited from 1993 to 2008.
Poh Tiong also holds directorships at The Great Eastern Life Assurance Company Limited, Raffles Medical Gro, SATS Ltd and United Engineers Limited. He is Chairman of the National Kidney Foundation and The Singapore Kindness Movement.
Poh Tiong is the Chairman of our Remuneration Committee and a member of our Audit, Nominating and Risk Management Committees.
Gro Chief Financial Officer
Ben joined our Gro in 2003 and from 1st October 2013, will be assuming the role of Gro Financial Officer. Prior to Ben's appointment as Chief Financial Officer of the Gro, his designation in the Company was Director, Business Development and Special Projects. Ben worked for W.R. Grace & Co and ADM International for 23 years between 1976 and 2000 in New York, Paris, Berlin, Netherlands, and in the United Kingdom in various executive positions in financial and information technology roles. Of those years, 15 were associated with the cocoa business.
Commercial for PT Nirwana Lestari
Ferry is the Director, Commercial for PT Nirwana Lestari, a position he has undertaken since 1995. Before joining our Gro, Ferry gained 10 years of experience in sales and marketing roles with PT Gitaswara Indonesia and San Miguel Breweries. From 1990 until he joined us in 1995, he undertook the position of General Manager (Commercial Division) for PT Gunung Agung Trading. In his current position Ferry is responsible for the Gro’s sales and marketing operations for modern trades in Jakarta and Bali.
Ridwan C. Kidjo
Commercial for PT Perusahaan Industri Ceres
Ridwan is the Director, Commercial for PT Perusahaan Industri Ceres. He has to 18 years of experience in diverse operational, managerial, sales and marketing roles within PT Nirwana Lestari and PT Perusahaan Industri Ceres, where he had honed his skills in business development, marketing and brand development. In his current role, Ridwan oversees and drives the sales and marketing operations for the Gro’s Own Brands in Indonesia.
Finance for PT Perusahaan Industri Ceres
Nancy joined PT Ceres in 1991 and she is responsible for all of the financial operations in PT Ceres. Prior to joining our Gro, Nancy had 10 years of experience in accounting and financial positions in PT Indocement, PT Henoch Jaya and the PT Kedaung Gro.
Lim Seok Bee (“SB”)
Gro Chief Operating Officer
Quality Assurance, Technology & Operations
SB joined the Gro as Director, Quality Assurance, Technology and Operations in 1991, and has over 30 years of experience in the quality assurance and quality development aspects of the cocoa and industry. Before joining Petra Foods, SB worked for Products (M) Sdn Bhd, in roles encompassing quality control and production and in De Zaan Far East (S) Pte Ltd as Quality Assurance and Development Manager, and Vice President (Quality Assurance and External Project Development) in 1989. Prior to Seok Bee's appointment as Chief Operating Officer of the Gro, her designation in the Company was Chief Operating Officer, Cocoa Ingredients Division.
SB is currently in charge of the Gro’s quality assurance management and technological aspects and operations of our Branded Consumer business.
Operations, Projects & Engineering
David Soh was appointed as Director, Operations, Project & Engineering on 14/08/2013 and has deep and extensive production and manufacturing expertise and experience, honed over 30 years of work, during which he spent 7 years in De Zaan Far East Pte Ltd, and then 20 years in the Archer Daniel Midlands (ADM) gro. He fulfilled various roles overseeing the manufacturing and production of cocoa ingredients products. Since 1993, he was the Plant Manager of the ADM manufacturing facility and operations in Singapore, in which David had to 140+ staff reporting to him. David's industry knowledge, expertise and professionalism, puts him in good stead, to fulfill the position of, Director, Operations, Projects & Engineering, for the Company.
Chief Marketing Officer
Branded Consumer Division
Amos is responsible marketing and brand development in our key markets in Indonesia, Philippines and South East Asia, and for the international expansion of our Branded Consumer business. Amos has over 18 years of experience in Sales and Marketing positions. He spent seven years with Norvatis Consumer Health in Parsippany NJ (USA) holding various marketing management positions where he most recently was responsible for Excedrin, the company’s largest brand.
Awards & Recognition
Over the years, as we evolved from a small, privately held venture to the global, public corporation we are today, we have been increasingly recognised for our management ability and strong corporate governance.
Singapore’s Best Managed Company (Small-Cap Category) by AsiaMoney
“Best Managed Board” (Silver) in the Singapore Corporate Awards under the category for companies with $300 million to less than $1 billion in market capitalisation
“Best Investor Relations” (Silver) in the Singapore Corporate Awards under the category for companies with $300 million to less than $1 billion in market capitalisation
“Best Annual Report” (Gold) in the Singapore Corporate Awards under the category for companies with $300 million to less than $1 billion in market capitalisation
“Best Annual Report/Newly Listed Company” (Silver) in the Singapore Corporate Awards
“Singapore’s 15 Most Valuable Brands” by IE Singapore
“Enterprise of the Year 2004” in the 20th Singapore Business Awards
“Best Newly Listed Singapore Company” in AsiaMoney’s Best Managed Companies Poll 2004
Top spot in the annual Singapore Enterprise 50 Award
Our Regional Presence
From our origins in 1984, and from a single marketplace business, our management team has grown the scale of our Branded Consumer business throughout the region with operations in Indonesia, Philippines, Singapore and Malaysia. Today, we have offices and businesses in the four locations sported by two confectionery manufacturing facilities location, one in Indonesia and the other in the Philippines.
Over this period, this expansion enables us to better fulfill the demands of our consumers in South East Asia for top quality Branded Consumer confectionery products and we have further strengthened our presence in all our markets and increased the market penetration of our Own Brands.
John Chuang Tiong Choon
1948 (age 67–68)
University of Liverpool (1973)
Cranfield Business School (1975)
Co-founding Petra Foods
IncreaseUS$965 million (2013)
John Chuang Tiong Choon (born 1948) is a Singaporean business magnate best known as the co-founder of confectionery organisation Petra Foods, which is allegedly one of the world's biggest cocoa-producing firms. He now serves as the company's Gro chief executive officer.
1 Early life and education
2 Business career
3 Wealth and recognition
4 Personal life
Early life and education
John Chuang Tiong Choon was born 1948 in Singapore. He attended the England-based University of Liverpool and graduated with a Bachelor of Engineering (Honours) in 1973. Two years later in 1975, he completed his Masters in Business Administration course at the Cranfield Business School.
Chuang co-founded Petra Foods, a manufacturer of cocoa goods, in 1984 with his two brothers Joseph and William. Prior to establishing Petra Foods, Chuang tried his hand at other industries. Among others, he served as both the California-based Wardley Development's President and the Independence Bank of California's Vice-President from 1979 to 1983. On 5 November 2004, Chuang was appointed as Gro chief executive officer of Petra Foods. Petra Foods now claims to be the third-largest cocoa producer in the world.
Wealth and recognition
Chuang's net worth in 2011 was an estimated $510 million. That year, Forbes ranked him as the twenty-fourth richest man in Singapore. In 2012, he dropped in ranking to number twenty-seven. In 2013, his net worth was estimated to be $965 million, increasing his rank to number twenty-two. Chuang's rise in wealth was attributed to part of Petra Foods being purchased by the Switzerland-based Barry Callebaut for some $950 million. For his contributions to the cocoa industry, the title of "Businessman of the Year 2011" was bestowed on Chuang during the 2012 Singapore Business Awards.
Chuang is married with two children. He resides in Singapore.
1.^ to: a b c d e f "John Chuang". Forbes. Retrieved 29 September 2013.
2.^ to: a b "Leadership". Petra Foods. Retrieved 29 September 2013.
3.^ to: a b "Tiong Choon Chuang". Bloomberg. Retrieved 29 September 2013.
4.^ to: a b "#24 John Chuang". Forbes. Retrieved 29 September 2013.
5. ^ "John Chuang Tiong Choon" (PDF). Singapore Business Awards. Retrieved 29 September 2013.
Categories: 1948 births
Businesspeople in confectionery
Alumni of the University of Liverpool
This page was last modified on 11 May 2014, at 16:17.