In a letter to the Philippine Stock Exchange, SMC senior vice president and general counsel Francis Jardeleza confirmed that the company "is scouting for investment opportunities in Australia and Taiwan this year."
SMC earlier reported it was evaluating plans to invest in Taiwan although SMC chairman and CEO Eduardo Cojuangco Jr. announced that their definite plans include only seven countries: China, Indonesia, Thailand, Malaysia, Vietnam, Cambodia, and Australia..
It was reported that SMC is considering putting up a $200-million brewery in Taiwan, in addition to plant facilities for its softdrinks, bottled water and juice products.
SMC already maintains a presence in several of these countries, although it will be the first time the company will be venturing into Thailand, Malaysia, Cambodia and Taiwan.
Its flagship beer brewing operations presently span China, Hong Kong, Indonesia and Vietnam while its Australian presence is through its subsidiary, premium beer brewer J. Boag & Son Ltd.
Its packaging and glass manufacturing businesses, on the other hand, have been spread out in China and Vietnam.
A subsidiary, San Miguel Packaging Products, is also looking at building two glass plants in Australia – one in Brisbane and the other in Sydney – to complement the China and Vietnam operations serving the Asia-Pacific market.
SMC said the two new plants will initially provide for the glass requirements of Australian beer makers J. Boag and Lyon Nathan, a 40 percent owned company of Japan’s Kirin Brewery Co. Ltd. which, in turn, has a 15 percent stake in SMC..
The conglomerate has been studying the possibilities of acquiring Coca-Cola’s Vietnam operations as well as buying into Indonesia’s PT Indoffoods, the world’s largest noodle maker majority owned by the Salim family of the First Pacific group.
Cojuangco said the total investments in the countries where they will be expanding will be spread out over seven years, with financing to be sourced through a combination of internal funds and debt.