MANILA, Philippines—Roxas Holdings Inc. wants to leverage the footprint of First Pacific group in Southeast Asia to make inroads in neighboring markets in anticipation of the regional economic integration in 2015.
“We are looking at possible new sources of revenue and at diversifying our product lines, as well as open new markets,” RHI chair Pedro E. Roxas said in an interview.
Roxas also said that through First Pacific’s strong presence in Indonesia’s food sector, RHI was optimistic at making a foray into the region’s largest and fastest-growing market.
In the same vein, he said RHI was also looking at possible partnerships to get into the food industry in Vietnam and Cambodia.
First Pacific acquired a 31-percent interest in RHI last November.
“With the preparations that we have put in place and the other initiatives that we are pursuing, we hope that (RHI) will be at the right place and at the right time when the challenge of 2015 arrives,” Roxas said.
He was referring to the Association of Southeast Asian Nations’ initiative to put up a single market through the Asean Economic Community.
“RHI has prepared for 2015, recognizing it as an opportunity to showcase our strength as a global Filipino company,” Roxas said.
“We took stock of our capabilities, strengthened our competencies, widened our networks, scouted for opportunities that will solidify (RHI’s) position—not only in the Philippines but also in Asia—and made aggressive but calculated decisions while we continue to nurture relationships,” he added.
RHI chief executive Renato C. Valencia said the firm was bullish on the regional integration even if this will result in the lowering of sugar tariffs to 5 percent from a high of 48 percent.—Ronnel W. Domingo