Friday, September 25, 2020

Zest-O Group Eyes Further Overseas Expansion

Zest-O Group Eyes Further Overseas Expansion


7 Commandments To Revitalize The Country Safely

Medical experts recommend strict health protocols for public transportation.

Alibaba Cloud Launches New Digital Ecosystem Strategy In The Philippines

This will help local businesses adapt further to the new normal!

EDC Donates PCR Machines To Enhance Negros Oriental’s COVID-19 Resiliency

Energy Development Corporation donates equipment worth P8.5-million to Negros Oriental.

CeMAP, PISI Express Full Support For Bayanihan To Recover As One Act

The Cement Manufacturers Association of the Philippines and Philippine Iron and Steel Institute announce full support to the recently signed Bayanihan to Recover as One Act.

Beverage manufacturer Zest-O Group is looking to expand in Southeast Asia and China even amid softened demand due to taxes levied on sugar-sweetened beverages.

“Maybe not the Zest-O (products) that you know here. A different product maybe we have. A coconut-based beverage will be good for China,” Zest-O Group chairman Alfredo Yao told reporters on the sidelines of the Philippine Business Conference and Expo.

Yao, said they intend to expand its manufacturing plant in China.

He said the company is also keen on building production plants in other Southeast Asian countries, apart from Vietnam and Indonesia, where it has presence.

“Southeast Asia muna syempre (first, of course). That’s population-based — 600 million (population) in Asean,” he added.

Yao further bared plans for an overseas acquisition, without providing further details.

“Next week, we will announce it. We have to advise the PSE (Philippine Stock Exchange) muna (first),” he said.

Listed Macay Holdings, Inc. fully acquired ARC Holdings, Inc. (ARCHI), which has a concentrate supply agreement and trademark licensing agreement with Royal Crown Cola International.

Yao noted that the group is gearing up for continued expansion despite the softening of demand resulting from taxes levied on sugar-sweetened beverages.

Such taxes are stipulated under the Tax Reform for Acceleration and Inclusion (TRAIN) Law.

Yao said they have been incurring a 30-percent decline in sales volumes since the implementation of the tax in January 2018.

“We have recovered na (already) since last quarter. Zest-O is catering (to) the masa (masses). Everywhere nagkaroon ng (there is) tax ang mga drinks, there is (an) adjustment period. It doesn’t matter if one year or two years, depende sa reaction ng tao (depending on the reaction of consumers),” he added. (PNA)

Latest News

Palace Believes AFP Not Involved In Fake FB Accounts

Malacañang believes that none of the fake accounts taken down by Facebook are accounts managed by the Armed Forces of the Philippines.

CA Junks Suit Filed By Customs Exec Accused Of Corruption

The Court of Appeals dismisses for lack of merit a petition filed by Bureau of Customs official Teodoro Jumamil questioning his suspension by the Office of the Ombudsman.

PH Displays ‘Int’l Leadership’ For Call To Address Climate Change

The Institute for Climate and Sustainable Cities, an international climate and energy policy group based in the Philippines, lauds the Philippine government for its display of "international leadership" at the 75th United Nations General Assembly.

Mobile Legends: Unveils New Trailer, New Hero Updates and Improved Gaming Experience

Expect a more immersive experience with the new era of Mobile Legends: Bang Bang!

San Juan Aids Hearing-Impaired Man Return Home

A locally stranded person with disability receive assistance from San Juan City.

Group: Bulacan Airport Biggest ‘Ray Of Hope’ For Migrant Workers

Groups of migrant workers laud the plan of San Miguel Corporation to construct an international airport in Bulacan saying it as a potential source of employment and livelihood opportunities for displaced local and overseas workers displaced.

DILG: Gov’t To Continue Accepting Contact Tracer Applicants

The government will do away with the deadline and will continue hiring contact tracers until the allocated slots are filled up to boost contact tracing for the COVID-19.

Village Lockdown Lifted In Cotabato City As Situation Improves

The city government of Cotabato lifts its lockdown after seeing an improvement in its COVID-19 situation.

BDO Foundation Reaffirms Commitment To Rebuild Lives

A few months since the global pandemic reached the country, BDO Foundation launches a number of initiatives to help various sectors get back on their feet.