KUALA LUMPUR, Sept 21 — Delivery Hero, the parent company for FoodPanda, confirmed that they are in talks to sell some parts of their business — in particular in Malaysia and...
The German food delivery company however stated that the deal’s value is still under negotiation. They plan to sell its activities under the FoodPanda brand in Singapore, Cambodia, Laos, Malaysia, Myanmar, the Philippines and Thailand.
A delivery driver for Foodpanda rides puts an order in his bag in Kuala Lumpur March 22, 2021. — Picture by Firdaus Latif Founded in 2012 and headquartered in Singapore, FoodPanda operates across 12 markets in Asia-Pacific. It was acquired by Germany’s Delivery Hero in 2016. The news comes as food delivery companies globally are facing growing pressure to turn profitable. A filing of Foodpanda’s Singapore entity shows a loss of S$42.7 million in FY2022 ended December 31, on the back of S$256.7 million in revenue.
In Malaysia, Delivery Hero reported a net loss of €67.9 million or about RM 339 million, based on the latest financial report for 2022 that was filed in April 2023.
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