Stock News 2013: Asia Brewery goes into yoghurt and soy milk

English: an Malaysia Product Soy Milk ... Enriched with high calcium . showing an Soy Milk Envelope and a glass of that. (Photo credit: Wikipedia)

The LT Group, the investment holding firm of tycoon Lucio Tan, said it is looking to expand its food and beverage network into soy milk and pasteurized yoghurt.

LT Group head Michael Tan said at the company’s annual stockholders meeting on Wednesday, June 19, that they are looking to increase their market share by introducing new lines of soy milk and pasteurized yoghurt.

In December 2012, Asia Brewery Inc (ABI), a subsidiary of the LT Group announced its partnership with one of Spain’s biggest dairy company, Gulpo leche Pascual, to import pasteurized yoghurt and soy milk to meet the rising demand of dairy and soy products.

Grupo Leche Pascual president Tomas Pascual said at the launch that 2.6 million kilograms or 1 million cases of Creamy Delight Pasteurized Yogurt will be imported from its factory in Spain throughout 2013.

The next step, according to Tan, is to establish a manufacturing facility in the Philippines which will manufacture enough product to be exported.

“We’re importing it right now so once it gets to critical volume we will begin to manufacture. Gulpo Leche Pascual, has identified the Philippines as the manufacturing base they would like to have in South East Asia,” said Tan.

This comes as part of ABI’s new strategy to increase domestic market share, tap into new overseas markets and launch new products.

http://www.rappler.com/business

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Stock News 2010: First local bond swap generates brisk demand, may top P144.5-billion mark

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MANILA, Philippines — The first local bond exchange of the Aquino administration may beat January last year's level of P144.5 billion, the Bureau of Treasury announced on Saturday.

The government's domestic bond swap program has attracted holders of more than P140 billion of 2011 and 2034 treasury bonds that are eligible to be exchanged for new 2020 and 2035 benchmark bonds, National Treasury Roberto Tan said.

"Great appetite," said Tan describing the domestic bond swap that ended Friday. The amount of bonds offered for exchange is "over P100 billion for 25 years and over P40 billion for 10 years," he added.

The government has targeted a minimum issue size of P30 billion each for the 10-year and 25-year benchmark bond. A minimum coupon of 5.875% was set for the 10-year bond, and 8.125% for the 25-year bond. Both are offered at par.

On Friday, the treasury bureau ended the offer period for the bond exchange.

The government has set the minimum coupon rates for at least P60 billion worth of new 10- and 25-year bonds offered in exchange for older notes at 5.875 percent and 8.125 percent per year, respectively.

Both securities to be priced at par.

http://www.mb.com.ph/node/292233/fir