JAPAN: Suntory Holdings to launch Singapore subsidiary
Suntory Holdings sets up base in Singapore
Suntory Holdings is to launch a food and beverage subsidiary business in Singapore that will spearhead the group's expansion in the Asia-Pacific region.
Suntory said yesterday that Singapore-based Suntory Beverage and Food Asia Ltd will begin trading on 1 September. It said that the division will be responsible "for beverage and food business development in South East Asia".
The move is the latest statement of intent from Japanese drinks firms keen to expand beyong their sluggish domestic market. Today, Suntory's rival, Asahi, announced its fourth acquisition in six weeks in the Asia-Pacific region.
Hong Sik Park will be the CEO of Suntory Beverage and Food Asia, which is expected to drive Suntory's mergers and acquisitions strategy in the region. The division will have just 15 employees and capital of SGD10m (US$8.3m).
SABMiller's Chinese joint-venture, CR Snow Breweries, could get a second chance to dig its claws into Kingway Brewery and mount a stronger challenge to Tsingtao in the country's Guangdong province....
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