Philippines to improve business ties with Pakistan
The Philippines and Pakistan have
been eyeing to increase business opportunities, a senior government official
said Friday.
Department of Trade and Industry
(DTI) Undersecretary Ponciano Manalo Jr. said a six-member Pakistani business
delegation has recently visited the country.
The Pakistani delegation, led by
Federation of Pakistan Chambers of Commerce and Industry (FPCCI) President
Zakaria Usman, was a combination of possible investors, buyers and sellers from
various sectors such as manufacturing, renewable energy, petrochemicals,
financial services, textiles, ceramics, garments, food, and shipping, he said.
Manalo said at this early phase in
strengthening two countries' trade relations, low hanging fruits such as the
import and exports of food can be considered.
In 2013, total trade between the two
countries only stood at 90.34 million dollars. Pakistan ranks as the
Philippines' 49th trading partner. (Source: Xinhua News)
Pepsi Philippines
sets P650-M capex for snack food business
PEPSI-COLA Products Philippines,
Inc. said it set a preliminary capital expenditure (capex) of at least P650
million for its planned entry into the food industry.
Project implementation may begin in
the second half of 2015, based on the firm’s proposed timetable.
“The company plans to set up local
manufacturing facility that will enable it to produce, sell and distribute
snack food products in the Philippines while it continues to produce, sell and
distribute its existing line of beverages,” Pepsi-Cola Products said in a brief
disclosure to the stock exchange.
The company is a licensee of
PepsiCo, Inc. and Pepsi Lipton International Ltd. It bottles beverages under
brands like Pepsi-Cola, 7Up, Mountain Dew, Mirinda, MUG, Gatorade, Lipton,
Tropicana/Twister, Propel and Sting.
In May, the company’s shareholders
approved the amendment of its stated purpose, which will now include “food and
food products, snacks.”
“In the future, the company would
want to enter foods as it is a big business opportunity,” Pepsi-Cola Products said
in a previous disclosure.
The company’s first-half net profit
fell to P480.44 million from P657.95 million a year earlier, though gross
revenue rose to P12.56 million from P11.46 million.
Pepsi-Cola Products closed at P4.78
on Thursday, up four centavos or 0.84%. (Source: Daphne J. Magturo/BWorld
Online/Photo courtesy of Mike Segar)
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