Thursday, October 1, 2020

Zest-O Group Eyes Further Overseas Expansion

Zest-O Group Eyes Further Overseas Expansion

Spotlight

EDSA Busway System To Implement Fully Cashless Transactions With Beep Cards

Cashless transactions via Beep card will begin on October 1.

SM Wins At 2019 Asia Sustainability Reporting Awards

The SM Investments Corporation has bagged yet again another award!

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!

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

Smile Train Philippines Celebrates World Smile Day

Make sure to witness the launch of #540Today, which conveys that 540 babies around the world are born with a cleft every day.

NegOcc Harvests First Sugarcane-Rice Intercrop Project

The sugarcane-rice cropping system project of the Negros Occidental provincial government reaps its first harvest in the pilot site located in Barangay Aranda, Hinigaran town.

Internet Hotspots Installed In Ilocos Norte Schools

Community internet hotspots in the towns of Pinili, Paoay, Currimao, and Badoc in the second district of Ilocos Norte are currently being tested to ensure all learners can connect under the new normal education system.

GenSan Extends GCQ Status Until Oct. 15

General Santos City is placed under GCQ until October 15 due to the rise of COVID-19 cases in the province.

Mayor Abby: Makati Rolls Out Learning Continuity Plan For Blended Learning

The Makati city government rolls out its Learning Continuity Plan for the school year 2020-2021, in preparation for the blended learning approach in the city.

Bloom In A Swipe With The New L’Oreal Paris Blooming Kisses Bullet Lipsticks!

Stay captivating with the smokey pink shades of L’Oréal Paris!

realme 7 Series And Buds Q Now Official In PH, Offer An Elevated Experience

Fans will enjoy a wide array of launch promos for the three devices both online and in-stores!

Cebu City Logs Low COVID-19 Positivity Rate

The Emergency Operations Center has seen a downtrend in the COVID-19 positivity rate in Cebu City, with 0.7 percent logged on Tuesday night.