Food Empire achieves its all time best ranking of 51st place for this year’s “Top 100 Most Valuable Singaporean Brands” by Brand Finance

    Singapore – Food Empire Holdings Limited (“Food Empire”, together with its subsidiaries, the “Group”),
    is pleased to announce its recognition as one of the Top 100 “Most Valuable Singaporean Brands” by
    Brand Finance, one of the leading valuation and strategy consultancy firms in the world.

    The Group was awarded a brand rating of ‘A+’, an improvement from last year’s ‘A’ rating. The Group
    also improved 2 notches in terms of brand ranking, placing 51st this year. Brand value for the Group also
    improved from USD81 million in 2020 to USD86 million in 2021. The assessment was made by estimating
    Food Empire’s likely future revenues attributable to its respective brands, calculating the royalty rate
    that would be charged for the use of its brands assuming it was not already owned and benchmarking it
    against other contestants.

    Commenting on the ranking, the Group’s Executive Chairman, Mr Tan Wang Cheow, said, “We are
    honoured to be featured in the Top 100 “Most Valuable Singaporean Brands” by Brand Finance. Despite
    the disruptions brought about by the Covid-19 pandemic, we have been able to adapt to the challenges
    and further increase our brand value. The result is a validation of Food Empire’s efforts towards
    improving customers’ experience, enhancing brand equity and delivering greater value to our
    shareholders.”