First Pacific eyes Indofood

First Pacific eyes Indofood

HONG KONG (Reuters): First Pacific Co. Ltd said yesterday it
was studying investments in dozens of companies, including
Indonesian noodle company PT Indofood Sukses Makmur controlled by
the Salim family.

"Indofood is among the dozens of companies that have appeared
fleetingly on the periphery of our radar screen," said group vice
president corporate communications Robert Sherbin.

"Any suggestion that we are going forward with this is wildly
premature and based on pure surmise. We have every intention of
sitting on our cash until the right opportunity comes about," he
said.

The Salim family is the major shareholder of First Pacific.

First Pacific said earlier this month it intended to acquire
marketing and distribution business-related companies in the
Philippines, Thailand, Indonesia and Hong Kong/China.

The company said it was targeting companies with substantial
market share, a strong brand name and strong ability to produce
positive cash flow relatively soon.

"Indofood is among many, many of the companies that we have
looked at, but I will not give it any special priority," Sherbin
said.