NEW CPF UNIT TO MANAGE BUSINESS IN PHILIPPINES

       Charoen Pokphand Foods yesterday announced the establishment of CPF Philippines Corp to manage its aquaculture and pig-farming operations in the Asean country.
       Adirek Sripratak, president and chief executive officer of CPF, said the company was investing about Bt1.52 billion in two business areas: Bt1.4 billion for marine feed mills and Bt125 million for pig farming.
       "We decided to set up the company after operating our business in the Philippines for a while and enjoying a successful outcome," he said.
       CPF's aquaculture business comprises a shrimp feed mill to be set up in Cebu, a promoted economic zone, with a production capacity of 30,000 tonnes per year.
       In addition, a fish feed mill will be set up on Luzon, which is the biggest island in the country, with a capacity of 60,000 tonnes per year.
       The company expects to complete both projects next year.
       Adirek said a pig-farming operation would also be constructed on Luzon. The company will start by raising 1,200 pedigree animals, eventually leading to 10,400 breeding pigs.
       The investment will serve the needs of 92 million people in the Philippines, which has an annual population growth rate of 2 per cent. The per-capita pork consumption is 15 kilograms per year, against Thailand's 13kg.
       The overall investment plan will also boost CPF's income in the remainder of the year.
       CPF has reported first-half revenue of Bt75.39 billion and net profit of Bt3.96 billion.

CPF to invest B1.5bn in Philippines

       Charoen Pokphand Foods Plc (CPF), the SET-listed flagship of the Charoen Pokphand Group, plans to spend 1.53 billion baht to build aquatic feed plants and a pig farm in the Philippines.
       The company will spend 1.4 billion baht to construct a shrimp-feed factory with a capacity of 30,000 tonnes per year in Cebu province and a fish-feed plant with a capacity of 60,000 tonnes per year on Luzon island.
       It will also invest 125 million baht in a pig farm in Luzon, said Adirek Sripatak,CPF's president and CEO. Construction of the projects is expected to be completed next year.
       "There is vast potential in the Philippines because of the country's large population," said Mr Adirek."The pig farm should be successful because of high pork consumption among the Philippine people."
       Average pork consumption in the Philippines is about 15 kilogrammes per person per year, compared with 13 kg in Thailand.
       CPF has also increased its overseas investments in countries such as Russia,Turkey and Vietnam to improve profit growth.
       The company's net income rose to a quarterly record of 3.19 billion baht in the three months ended June 30, on improving earnings in its domestic and overseas aquaculture businesses, with six-month net profit rising to nearly 4 billion baht on sales of 75.4 billion.
       CPF shares rose yesterday on the SET by 15 satang to 5.80 baht, in trade worth 143.658 million baht.