SE Asia a key growth region for many S’pore firms: industry watchers
Singapore-based Petra Foods is no stranger to competing in the overseas markets, especially in Southeast Asia.
The cocoa ingredients maker says that despite the close proximity to Singapore, local firms intending to invest in the region must spend time studying the markets before making their first foray.
Petra Foods, ranked 32 in the Singapore International 100 Ranking, is a market leader in branded confectionery goods in Indonesia. And it owns manufacturing facilities in Malaysia and Thailand as well as in South America.
Recently, it struck a deal with Nestle Philippines to buy manufacturing, sales and distribution facilities for US$5 million.
Petra Foods says there’s no getting around taking risks when it comes to venturing abroad.
More: channelnewsasia.com
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