San Miguel plans investment spree

San Miguel plans investment spree

MANILA: Philippine food and beverage giant San Miguel Corp. is to launch an investment spree in Asia, company chairman Eduardo Cojuangco said.

It is also finalizing the acquisition of two terminals of a major port operator in the Philippines, he told reporters late Thursday.

The investment drive would be launched in January covering China, Indonesia, Thailand, Malaysia, Vietnam, Cambodia and Australia.

"We have definite plans for each (country). We see (investments) in these countries will help our operations overall, including beer. So there will be synergies," he said.

He did not provide details of the investments but said they would be spread over seven years and would be financed through cash reserves and debt.

San Miguel had earlier said it was planning to invest in a brewery in Taiwan. It already has breweries in China and Australia.

San Miguel is the Philippines' leading food and beverage firm with beer operations in China, Vietnam, Indonesia and Australia. It also has food businesses in Indonesia. -- AFP