JAKA expands into Manado

Tue, 12 Jul 1994, 00:00 WIB | Source: AFP

MANILA (AFP): JAKA Group said yesterday it is expanding into
Southeast Asia with a Sabah match factory and a dessicated
coconut joint venture in Manado, North Sulawesi, as its first
projects.

JAKA has infused equity into the Malaysian firm Sabah Match
Manufacturing Bhd. in exchange for whole management control by
the Filipino group, said Tony Cruz, the group's match division
comptroller. He gave no other details of the deal.

JAKA, the investment and management concern of former
Philippine defense minister Juan Ponce Enrile, also entered into
a joint venture with an undisclosed Indonesian firm for
dessicated coconut, said JAKA president Nora Bitong.

She said the company was "seeking investment opportunities in
neighboring countries in areas where the group enjoys technical
superiority such as match manufacturing and dessicated coconut
production."

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