Malee Group Public Company Limited, or MALEE, owner of the Malee brand, has moved to divest its investment in Long Quan Safe Food Company Limited (LQSF), which produces and distributes beverages in Vietnam, in which it holds a 65% stake. LQSF is not a subsidiary that MALEE founded itself, but a company MALEE acquired for roughly 330 million baht in 2018 to strengthen its beverage production base for emerging markets in Southeast Asia. The reason for the divestment is LQSF's performance falling short of expectations, with net losses for several consecutive years. Since 2021, it posted a net loss of 15.49 million Vietnamese dong, in 2022 a net loss of 52.35 million Vietnamese dong, in 2023 a net loss of 19.24 million Vietnamese dong, in 2024 a net loss of 76.56 million Vietnamese dong, and in 2025 a net loss of 23.41 million Vietnamese dong. As of the end of 2025, accumulated losses stood at 99.98 million Vietnamese dong. This sale will require MALEE to record a large one-time loss in its third-quarter 2026 statements, but it will help relieve debt burden and the recognition of losses from having to consolidate LQSF's financial statements. In the first six months of 2026, MALEE had revenue from sales and services of 3.5942 billion baht, down 3.8% from 3.7367 billion baht in the same period a year earlier, and net profit of 37.2 million baht, down 75.5% from 152.0 million baht in the same period a year earlier.
Malee Group Public Company LimitedMALEE divests its 65% stake in loss-making LQSF, taking a large one-time Q3 2026 loss but relieving debt and loss consolidation.
LQSF is being divested by MALEE after consecutive years of net losses and accumulated losses of 99.98 million dong.
