News

CP expanding in Thailand and Malaysia

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Thailand's Charoen Pokphand Foods PCL  plans to establish new aquaculture units in Thailand and  Malaysia this year, according to Dow Jones.
Shrimp Improvement Systems (Thailand) Co. Ltd. will be established in Thailand with THB8 million registered capital ($1=THB41.284). The company will in operate a shrimp hatchery business.
Calibre Nature Sdn. Bhd. will be set up in Malaysia with 5 million ringgit ($1=MYR3.80), or around THB55.4 million, to operate an aquaculture business including aquatic feed production and distribution.
CP also said it would transfer its  aquatic meat-processing businesses from three of the company's wholly owned units to CP Foods to increase efficiency.
CP's board today approved a plan to issue up to 15 billion baht worth of debentures but has not disclosed what theywould be used for, the newswire said.
All issues will be submitted to the company's shareholders meeting October 29.