JG Summit's investment plan

JG Summit's investment plan

MANILA (AFX-ASIA): JG Summit Holdings Inc said it will explore more business opportunities abroad in an effort to ensure long- term growth and profitability.

JG said in a report to the Securities and Exchange Commission that it intends to increase or make new investments in food companies in Malaysia, Indonesia, Thailand and China.

It will also look at possible opportunities through Singapore's United Industrial Corp, in which it holds a 24.27 percent stake.

"The company also wants to explore opportunities in India and Indochina for branded consumer foods and tap opportunities in UIC, which is based in Singapore," JG Summit said.

"The company will prioritize capital expenditure on strategic businesses, seek long-term financing and develop partners to access technology and reduce financial risk."

JG Summit said aside from the current joint ventures in telecommunications, confectionery and drilling, it is still on the lookout for potential tie-ups in the petrochemical and mobile telephone businesses.