
Packaging Supply Chain news from the Asia Pacific
China - UK-based international alcoholic beverage giant, Diageo Plc’s local subsidiary, Sichuan Swellfun Co Ltd is taking on top-selling rival Kweichow Moutai at the top of the shelf by launching a baijiu priced at US$256 (¥1,699 yuan)- roughly the price of 10 bottles of Absolut vodka.
Swellfun’s new top of the range item is dearer than the ¥1,299-yuan Feitian baijiu produced by China’s legendary Kweichow Moutai, which overtook Diageo earlier this year as the world’s most valuable distiller.
PHILIPPINES - San Miguel Corporation (SMC)’s first quarter net profit for 2016 jumped 122% year-on-year to US$289.14 million (P13.5 billion), citing robust food, beverage and packaging businesses, as well as higher revenues from its power and infrastructure units.
VIETNAM – Saigon Beer, Alcohol and Beverage Corporation (Sabeco), Vietnam’s largest beer producer, intends to sell 53% of its shares in a single tranche.
MALAYSIA - Fraser & Neave Limited (F&N) is investing over US$51.25 million (RM210 million) to expand production capacity and fuel business growth in Malaysia.
VIETNAM – Vietnamese dairy giant Vinamilk has decided to remove its 49% foreign ownership cap, a move expected to generate interest from overseas investors in a company valued at US$7.85 billion.