food_empire

Written by

Azure Capital Fund Management Singapore Private Debt Fund Singapore Hedge Funds Lyte Fund Terence Wong Blue Suit

Terence Wong, CFA

CEO and Executive Director
Azure Capital

Russian Aficionados

Mar 3, 2025

Brought together two friends with deep insights into Russia.

Russell Wee, director at Jean Yip Group, is one of the few Singaporeans I know who can converse in Russian. We visited Tan Wang Cheow at his new office.

I first met Wang Cheow nearly 25 years ago when he took instant coffee manufacturer Food Empire public. In the early 1990s, he created demand for coffee in traditionally tea-loving Russia. Today, it’s flagship brand MacCoffee dominates the market there with a 60% share, far ahead of Nestlé’s 20%.

Food Empire produces around 7 billion packs of instant coffee annually, with MacCoffee now sold in over 60 countries.