Philippine food and drink group, San Miguel Corp. is targeting to expand into Thailand, Malaysia, and Cambodia. The company already has existing beer breweries in Hong Kong, Indonesia, Vietnam, China, and Australia.

San Miguel chairman Eduardo Cojuangco said on December 12, the company intends to focus on food, beverage, and animal feeds in its regional expansion efforts. "We have definite plans for each country. San Miguel has identified certain potential investment areas in its chosen Asian markets that would complement the overall operation of the food and drink group. We believe we can make a niche for ourselves (in the Asian countries identified as potential expansion sites) and it would be good if the company could generate (more) dollar earnings since we also have a lot of dollar requirements,” Cojuangco said.

San Miguel is open to forging partnerships as it further expands its reach in Asia, although the company would prefer to have majority stakes in such partnerships, he added. San Miguel has no plans of expanding into Europe or the U.S. since the company would prefer to build on its strength by focusing on Asia, according to the same spokesman.

San Miguel's cash position was boosted by its sale of a 15% stake to Japan's Kirin Brewery Co. (KNBWY or 2503), which was completed in March. Cojuangco said San Miguel has benefitted from its partnership with Kirin, as the Japanese firm has provided technology to further enhance San Miguel's operations.

17 December, 2002