SMC to expand presence in AsPac

Food and beverage giant San Miguel Corp. (SMC) said yesterday it is eyeing to expand its business presence in other areas in the Asia Pacific region although the discussions are still in a very preliminary stage.

SMC wrote the Philippine Stock Exchange (PSE) that as part of its continuing corporate planning process, it "evaluates possible business for acquisitions, strategic alliances or joint ventures, in the Philippines or abroad."

SMC said among the areas it is considering as a possible investment site is Thailand, which could include ventures in its core businesses of beer and packaging.

SMC has international beer operations in Mainland China, Hong Kong, Vietnam, Indonesia and Australia.

In the first nine months of 2001, SMC’s international beer revenues improved by seven percent at $198.6 million, with opeating income slightly improving to $4.7 million from $4 million last year.

Although volumes were weak in the third quarter, primarily in South China and Indonesia, its Hong Kong, Vietnam and North China operations continued on its modest increases in volumes and operating income, while in Australia, J. Boag & Son maintained its strong performance, contributing $2 million in operating income. – Conrado Diaz Jr.