Tag: asia

  • DHL Express Hong Kong becomes the Official Partner of Kai Tak Sports Park

    DHL Express Hong Kong becomes the Official Partner of Kai Tak Sports Park

    DHL Express, the world’s leading international express service provider, has been appointed as the Official Partner of the newly opened Kai Tak Sports Park (KTSP). The partnership demonstrates both organizations’ mutual commitment to bringing world-class mega events to Hong Kong, further strengthening the city’s position as Asia’s Event Capital.

    Through this partnership, DHL will support KTSP in welcoming a variety of international, large-scale sports and entertainment events to Hong Kong. This collaboration enhances DHL’s brand visibility to audiences at home and abroad, contributing to the growth of Hong Kong’s mega events economy.

    “We are delighted that DHL Express is our Official Partner. We look forward to enhancing the experience of our world-class mega events together. With KTSP as Hong Kong’s home venue, we are committed to bringing more international sports, cultural, and entertainment events to Hong Kong, further transforming the city into an event capital and creating new growth opportunities,” said Mr. John Sharkey, CEO, KTSP.

    “DHL Express is honored to be the Official Partner of KTSP. This underscores our long-term commitment to Hong Kong’s development. In line with our purpose of ‘Connecting People, Improving Lives,’ we are excited to support KTSP in hosting world-class large-scale events. Through our shared values of innovation and mission to promote Hong Kong as a hub for live events, we will connect local and international audiences with their favorite sports teams, athletes, and artists. We believe we can better position Hong Kong as an attractive destination for the sports, cultural, arts and music lovers,” said Andy Chiang, Senior Vice President and Managing Director, DHL Express Hong Kong and Macau.

    One of the main events in 2025 for KTSP is the Coldplay’s Music Of The Spheres World Tour in April, for which DHL is the Official Logistics Partner. As Coldplay’s Official Logistics Partner, DHL is helping to reduce the tour’s transport emissions by, for example, leveraging Sustainable Aviation Fuel (SAF), which generates up to 85% less CO2 emissions compared to traditional jet fuel.

    The partnership with KTSP reinforces DHL’s long-term commitment to the sports and entertainment industry at both local and global levels. With a long history of partnering with some of the world’s most prestigious events and teams – including Formula 1, Formula E and Manchester United – DHL connects people from all over the world, enabling fans to engage with their favorite sports teams and artists. Locally, DHL is the Official Partner of Hong Kong China Rugby, nurturing talented local athletes to help them realize their full potential on the international stage.

    Officially opened on 1 March 2025, Kai Tak Sports Park is Hong Kong’s largest integrated sports and entertainment landmark. Featuring a multi-purpose stadium and a variety of sports and leisure facilities, the park supports the government’s goals of boosting tourism, promoting sports development, and hosting major sporting and entertainment events, thereby contributing to the city’s economic development and cultural exchange.

  • Vietjet launches Singapore-Phu Quoc direct flight route

    Vietjet launches Singapore-Phu Quoc direct flight route

    Party General Secretary To Lam and leaders of Vietnamese ministries, agencies and localities witnessed the announcement of Singapore – Phu Quoc direct flight service on Tuesday, as part of his official visit to the city state.

    Starting May 30, Vietnam’s budget carrier Vietjet Air will operate the new route with four weekly flights, connecting Singapore with Vietnam’s largest island. This addition brings the total number of weekly flights between Vietnam and Singapore to 78, catering to an estimated half a million passengers a year.

    It is the fourth direct air service between the two countries, joining existing routes to Ho Chi Minh City, Hanoi, and Da Nang. It is expected to not only boost tourism but also strengthen economic, trade, and cultural cooperation between the two nations.

    Chairwoman of the Vietjet Air Board of Directors Nguyen Thi Phuong Thao stressed that Vietjet is more than just an airline, it drives economic growth, trade, investment, education and cultural exchanges.

    Vietjet Air and its Singaporean partners, handling billions of USD in annual transactions, are deepening collaboration in finance, trade, and innovation to build a sustainable and prosperous future, she said.

    On this occasion, Vietjet Air and Carlyle Aviation Partners signed a US$300 million financing agreement to support the purchase of aircraft scheduled for delivery between 2025 and 2026. This deal is a pivotal step in Vietjet Air’s plan to acquire more than 400 new aircraft, as part of its fleet expansion strategy.

    Furthermore, Vietjet Air and Satair, an Airbus Group subsidiary, inked a cooperation deal on the use of Integrated Material Services (IMS), a comprehensive material supply solution for Vietjet’s entire fleet of Airbus A320 and A330 aircraft.

  • Sydney Beer Co enters administration

    Sydney Beer Co enters administration

    Sydney Beer Co entered administration last Friday, Australian Securities and Investments Commission (ASIC) filings showed.

    The company tapped Richard Stone and Brett Stephen Lord from RSM Australia Partners as administrators.

    Sydney Beer Co’s website states that former cricketer Bret Lee and actor and writer Matt Nable co-founded the company.

    Dean Joseph Woodbridge and David Richard Catterall are listed as directors on the ASIC documents.

    Sydney Beer Co is among the brewers to enter administration recently, along with Kaiju and Billson’s.

    Earlier this month, Prime Minister Anthony Albanese said his government would freeze the indexation on draught beer excise for two years.

  • Impossible Foods launches burger blind-tasting test challenge

    Impossible Foods launches burger blind-tasting test challenge

    Impossible Foods has launched “Bloody Delicious,” a blind-tasting test to see if local foodies can tell the burger is made with plant-based Impossible alt-beef.

    According to the brand, the challenge comes after it sees Australians are rapidly turning away from red meat, with “meat reducer” appearing as the country’s most popular diet last year and a quarter reducing consumption.

    “I’ve spent years cooking with red meat and would consider myself an expert when it comes to a good burger,” said chef and TV personality, TikTok Food Creator of the Year nominee Iain ‘Huey’ Hewitson.

    “I never would have thought that a plant-based burger would make its way onto my plate, but this Impossible Burger was bloody delicious!”

    Impossible Foods also said that 27 per cent of Aussies are sceptical of the taste of plant-based meat, with 19 per cent convinced that it “wouldn’t taste like animal meat”.

    The brand is also going to team up with Mary’s at Circular Quay to give away more than 200 free Impossible Burgers on April 3.

  • HelloFresh New Zealand faces court for misleading consumers

    HelloFresh New Zealand faces court for misleading consumers

    Criminal charges have been filed against global food-delivery platform HelloFresh’s New Zealand business for misleading customers about the subscriptions to its service.

    The Commerce Commission alleges that between February 2022 and July 2023, HelloFresh offered customers a discount voucher without making clear that accepting it would reactivate their cancelled subscriptions.

    Commerce Commission deputy chair Anne Callinan said the conduct breached the Fair Trading Act as it resulted in some cancelled subscriptions being reactivated without the customers’ consent.

    “We’re concerned some consumers have been misled into paying for services from HelloFresh they didn’t want through the use of misleading wording and processes in cold calls,” Callinan continued.

    “Buying products online is increasingly a way of life for Kiwi consumers and so the commission is prioritising action against illegal online sales conduct. This includes subscription traps, which come in many forms and include situations where consumers are misled into signing up for a paid subscription without knowing,” she added.

    The commission started an investigation into HelloFresh after receiving customer complaints about its sign-up, cancellation, and reactivation processes. The charges were filed in the Wellington District Court.

    In December, the agency filed charges against Woolworths New Zealand, Pak’nSave Silverdale, and Pak’nSave Mill Street over inaccurate pricing.

  • Unilever CEO eyes more opportunities in India

    Unilever CEO eyes more opportunities in India

    Unilever’s newly-appointed CEO Fernando Fernandez has voiced optimism about the Indian market, believing in its long-term growth potential despite quarterly revenue shortfall.

    In an interview with Barclays earlier this month, Fernandez highlighted the brand’s long-term prospects in India, despite the country’s substantial food inflation.

    He says India is unique since richer and poorer Indians dwell close together, resulting in a demand and supply of labour. That made quick commerce a logical channel to grow.

    “Our position in India is exceptional. We have great brands; we have a great portfolio,” he said.

    “The economic environment in India will get better in the second half of the year. There are significant changes in the channels in India. The rise of affluent India is very important. There are 60 million households of the 320 million households in India. They have serious money now.”

    According to Unilever’s financial results for the fourth quarter and full year 2024, India rose 1.8 percent, with underlying volume growth of 2.4 percent. Home care and beauty and well-being were the primary drivers, while personal care declined.

  • Fisheries exports grow by 6% in H1

    Fisheries exports grow by 6% in H1

    Vietnam’s fisheries exports in the first half of 2024 were worth US$4.4 billion, up 6% year-on-year on higher demand in major markets like the U.S., China and the EU.

    Key items such as shrimp, pangasius and tuna did well, the Vietnam Association of Seafood Exporters and Producers said in its latest report.

    Pangasius accounted for $918 million and tuna for $472 million, up 5% and 23%. Shrimp fetched $1.6 billion, a 6% increase, while exports of other crustaceans jumped by 75% to $125 million.

    The U.S. and EU imported 18% and 56% more tuna. Shrimp exports to China and the EU rose by 17% and 13%.

    Top shrimp exporter Minh Phu said profits for the first half were VND7.2 billion (US$284,000) as against a loss of VND98 billion in the same period last year.

    Its CEO, Le Van Quang, said the company has been receiving more orders than last year and is planning to boost exports to China, Japan, South Korea, Australia, and New Zealand.

    Businesses are optimistic that seafood exports, especially of green and sustainable products, will grow even more in the coming months.

    But the seafood association said some challenges remain, such as fierce competition from Ecuador and India, rising transport costs and a shortage of raw materials for processing.

  • Telegram’s new update brings a highly popular feature to Android

    Telegram’s new update brings a highly popular feature to Android

    Telegram users on Android can now send video and audio content to their TVs through Chromecast, a key feature of the messaging app’s latest update. This enhancement arrives alongside other improvements, including enhanced message organization and a revamped interface for managing linked devices.

    The ability to cast media to a larger screen addresses a common desire for users who want to share content with others or simply enjoy it on a more immersive display. Before this update, users had to rely on third-party solutions or workarounds to achieve similar functionality.

    Now, within the Telegram app, a simple tap allows for the seamless transfer of videos and audio to any Chromecast-enabled device. This streamlining of the process makes sharing and viewing content more accessible. You can access this feature by opening a video, tapping the Settings icon, and then selecting “Chromecast.”

    Beyond the Chromecast addition, the update also introduces “Starred Messages 2.0.” This feature allows for better sorting and organizing of saved messages by letting users assign tags to their starred messages, creating a more structured way to later retrieve them. This aims to address the challenge of finding specific information within a large collection of saved content. For those who frequently save important messages or photos and videos, this organizational tool is a significant upgrade.

    Another notable aspect of the update is the refined interface for managing linked devices. As many users utilize Telegram across multiple platforms, the ability to control and monitor these connections is essential. The updated interface provides a clearer overview of active sessions and allows for easier disconnection of devices. This enhancement improves security and gives users more control over their accounts.

    Historically, Telegram has focused on privacy and speed, and these updates continue that trend by improving the user experience. Among those, the addition of Chromecast support reflects a growing trend of integrating messaging apps with other devices and platforms, while  the enhanced message organization and device management features also demonstrate a commitment to providing users with tools to manage their data and accounts effectively. I believe this update will make for a more connected experience for Telegram users.

  • Vietnam Airlines flights impacted by strikes in Germany

    Vietnam Airlines flights impacted by strikes in Germany

    According to an official announcement from the airline, Vietnam Airlines flights have changed their operating schedule due to a strike in Germany from midnight to 11.59 p.m. on March 10 (local time).

    This is the second time the airline has been affected by this reason this year.

    Specifically, flight VN36 from Frankfurt to Hanoi on March 10 will depart at 11:55 a.m. on March 11 (local time), flight VN30 from Frankfurt to Ho Chi Minh City on March 10 will depart at 11:05 a.m. on March 11 (local time), and flight VN34 from Munich to Hanoi on March 10 is planned to depart at 11:05 a.m. on March 11 (local time).

    In addition, due to the chain reaction from adjusting the fleet and general schedule, about 20 domestic and international flights of Vietnam Airlines from March 11 to 12 may be changed from wide-body to narrow-body aircrafts, delayed departure times or canceled.

    The airline representative informed me that the airline would regularly update the operation plan in the following newsletters.

    Affected passengers will be supported by the airline according to regulations.

    They also can check official Vietnam Airlines Facebook Fanpage; contact ticket offices, official agents, and Customer Care Center 1900 1100 (in Vietnam) or +84 24 38320320 (abroad).

  • Apple confirms your iPhone won’t be getting this key Apple Intelligence feature until next year

    Apple confirms your iPhone won’t be getting this key Apple Intelligence feature until next year

    Apple has announced that some of its planned artificial intelligence enhancements for Siri, its well-known voice assistant, will not be available until 2026, pushing back the initial rollout. This adjustment means certain features designed to make Siri more personalized and capable of handling tasks across various apps will require additional development time.

    The company released a statement explaining that their work on a more context-aware Siri, capable of understanding and acting on user-specific information within and between applications, is proving more complex than initially anticipated. Apple had previously indicated these features would be introduced in 2025. Now, users will have to wait longer to experience these advanced capabilities.

    Apple representative to John Gruber, Daring Fireball

    These planned improvements are part of Apple’s broader “Apple Intelligence” initiative, which includes a range of AI-driven features. Among the most anticipated are those that would allow Siri to interact more seamlessly with data stored on Apple devices. For instance, imagine asking Siri to find a podcast recommendation from a friend or to retrieve flight details sent by a family member. These actions would rely on Siri’s ability to access and process information directly from the device.

    To support these AI features while maintaining user privacy, Apple has been developing a new cloud computing infrastructure powered by its own chips. This infrastructure is designed to process data in a way that respects user privacy, a core principle for the company. The complexities of building and refining this system, while also enhancing Siri’s capabilities, appear to be contributing to the delay.

    This delay was actually first reported by Bloomberg’s Mark Gurman last month, explaining that the company had been running into issues when it came to getting them working as expected in iOS 18.4, which is expected to roll out in April. He also predicted the possibility of a delay until iOS 18.5, which is expected in May. However, with a delay until next year, it is now looking like the delay is more serious than originally thought.

    While this news is disappointing, I believe Apple users would prefer the launch of a finished product, rather than an unfinished one with the potential to compromise user privacy. It will be interesting to see how Apple manages to deliver these features in the future, and how they balance privacy and functionality.

  • Telegram banned across Russian regions in unprecedented twist of fate

    Telegram banned across Russian regions in unprecedented twist of fate

    Talk about an unexpected surprise: the popular messaging app Telegram has been banned across two regions in Russia for fear of enemies of the state using it to plan attacks. Telegram has long been heralded for its commitment to user privacy, but it has also been accused of being Russian spyware.

    The ban has been imposed across the Russian regions of Dagestan and Chechnya as authorities reported a rise in extremism. An example of a concerning instance from 2023 was provided as proof of the app being used for malicious purposes.

    This isn’t the first time that Telegram has gotten into trouble in Russia but the ban across Dagestan and Chechnya looks like it will stay for a long time. Authorities are urging residents to switch to alternatives and saying that Telegram may or may not be unbanned in the future.

    This is far from the first time that Telegram has made the news in the last few months. Telegram founder Pavel Durov was arrested in France last year on charges of facilitating organized crime on the platform. These charges alleged that due to Telegram’s stance on user privacy and anonymity the platform was responsible for whatever took place in its servers.

    Eventually, after so many years of resisting it, Telegram caved to legal pressure. Durov stated that the app would now provide users’ IP addresses and phone numbers to authorities upon request. Telegram had often been blamed for breeding radical cells in the past.

    Funnily enough, some people have always believed that Telegram is Russian spyware. With it now being blocked in regions of its own home country, that belief becomes all the more humorous, in my opinion. I’ve also always maintained that Telegram is no more to blame for nefarious activities than Discord or other platforms that offer end-to-end encryption.

    Some people view Telegram as part of the dark side of the internet: an app that only elite hackers or criminals use. But Telegram is a massively popular platform with all sorts of chat rooms and servers. I personally have met some amazing people on Telegram and I hope the situation in Russia can be handled sooner rather than later.

  • Ferrero Rocher’s Easter chocolate collection returns

    Ferrero Rocher’s Easter chocolate collection returns

    Ferrero Rocher’s limited-edition Easter collection is making a comeback and is now on sale through major retailers.

    The collection includes Ferrero Collection Boxed Egg, Ferrero Collection Easter Eggs, Ferrero Rocher Milk Chocolate and Hazelnut Easter Squirrel, Grand Ferrero Rocher, Ferrero Rocher Easter Egg Gift Box, and Ferrero Rocher Milk Chocolate and Hazelnut Easter Egg.

    The chocolate brand has partnered again with interior designer and tastemaker Steve Cordony for styling the collection.

    “This year, my Easter theme features greenery, natural napery, and touches of gold with Ferrero Rocher to elevate a tablescape,” said Cordony.

    “We also crafted the cutest napkin Easter bunnies using a classic Ferrero Rocher. Something so
    simple and effective way to adorn your Easter table this year.”

    Earlier this year, Ferrero debuted its frozen bakery range, the Nutella Croissant and Nutella Muffin, which are now available to food service partners across Australia.

  • Thai Airlines halts certain domestic flights due to air pollution

    Thai Airlines halts certain domestic flights due to air pollution

    Bangkok Airways, one of Thailand’s main airlines, said on Wednesday that it will suspend flights between Bangkok and a northern province for more than a month because of poor visibility caused by air pollution.

    The carrier said flights from Bangkok to the north-western town of Mae Hong Son will be suspended because smog is expected to make visibility too poor to land. The company experienced the same problem in 2024, when smog levels were extremely high.

    The airport authority in Mae Hong Son, a popular stop of travelers in northern Thailand, announced on Facebook last week that flights would be suspended from March 15 to April 20.

    Air pollution spikes in Thailand, especially in the north, between December and April as farmers burn stubble to prepare land for the next crop season. The Thai government banned crop burning early in 2025, with violators facing fines and legal action, although it is not yet clear what impact the measures are having.

    The air quality index for Mae Hong Son was 7.9 times greater than World Health Organization guidelines, according to IQ Air data, which measures global air pollution.

  • DHL sees new opportunities in Thailand with its Strategy 2030

    DHL sees new opportunities in Thailand with its Strategy 2030

    DHL, the world’s leading logistics company announced its strengthened commitment to Thailand through its Strategy 2030 – Accelerate Sustainable Growth, with opportunities to position Thailand as a key regional hub as more businesses look to build supply chain resiliency in Asia Pacific.

    Thailand hosts all four DHL divisions operating in full force, enabling Thai businesses to access DHL’s global network and solutions from a one-stop logistics partner. DHL’s Strategy 2030 addresses five key megatrends shaping Thailand’s economic landscape: Global Trade, E-Commerce, Sustainability, Digitalization and Evolving Workforce.

    While these industry changes present new challenges, DHL’s strong track record and global footprint position it uniquely to seize significant opportunities for additional growth. Other than the megatrends, DHL also sees opportunities for Thailand in the following key growth initiatives:

    Geographic tailwinds

    DHL will build on its strong global footprint and local expertise to capitalize on geographic tailwinds. This addresses the profound shift in growth of trade lanes, diversification of global supply chains, and the needs of fast-growing companies around the world.

    While Vietnam and Indonesia have gained much attention for supply chain diversification, Thailand’s strong manufacturing base in the automotive and electronics sector gives it an advantage. The Ministry of Commerce announced that exports expanded by 5.4% throughout 2024, the highest annual figure in the nation’s economic history.

    Key markets such as United States, China, Japan and the European Union were the main drivers for the growth with the United Kingdom emerging as a promising market for Thai businesses.

    New energy

    The transformation of the renewable energy and auto-mobility sectors requires dedicated logistics solutions, and DHL sees opportunities for Thailand as a key Southeast Asia destination for EV production. This is bolstered by the Government’s effort to attract foreign manufacturers to establish local production bases.

    DHL’s extensive solutions across the EV supply chain will help Thailand achieve its goal of having EVs account for 30% of its vehicle production by 2030.

    E-commerce

    Thailand’s e-commerce sector is experiencing rapid expansion. According to the Thailand E-Commerce Association, the market value is projected to grow from $26.5 billion in 2023 to $32 billion in 2025, reflecting an approximate 21% increase over two years, translating to a compound annual growth rate (CAGR) of about 10%. DHL plays a crucial role in supporting Thailand’s vibrant SME sector, which comprises 3.2 million businesses contributing 35% of the country’s GDP.

    Success stories such as Gentlewoman and Fairtex demonstrate how local Thai brands can tap on DHL’s comprehensive logistics solutions to achieve international growth. The combination of DHL’s global reach and local expertise provides Thai businesses with the capabilities they need to compete effectively in the global marketplace.

    Initiatives such as DHL’s GoTrade program provide capacity-building assistance to more than 9,000 SMEs worldwide. In Thailand, DHL Express developed the program, in collaboration with key government agencies including DITP and OSMEP, to help Thai businesses effectively navigate international trade opportunities.

    In addition to facilitating international trade, DHL eCommerce supports e-retailers, SMEs, and brands in penetrating the Thailand market by offering reliable, high-quality delivery solutions at an affordable price from DHL eCommerce. DHL’s commitment to excellence ensures businesses of all sizes and sectors can grow and succeed in an increasingly digital and competitive domestic landscape.

    DHL reaffirms long-standing commitment to Thailand

    DHL’s long-standing commitment to Thailand is demonstrated through its comprehensive operational footprint and continued investment in infrastructure and capabilities. It currently employs more than 9,300 people across the four divisions.

    DHL Supply Chain currently manages over 678,000 sqm of warehouse space across more than 70 facilities, including those in the Eastern Economic Corridor. Through its extensive transport network, the company efficiently handles approximately 4,800 vehicle loads daily. The company is making significant investments in developing more sustainable warehouses and is also set to expand its electric vehicle fleet by 300% over the next three years.

    DHL Express operates a robust aviation and ground network encompassing one regional hub at Suvarnabhumi Airport, 15 service centers, 131 owned and partnered service points, all facilitating international door-to-door express deliveries. The network supports 85 dedicated flights weekly while 100% of service centers are equipped with solar panels for renewable energy generation.

    DHL Global Forwarding specializes in air, ocean, rail, and road freight forwarding services. With seven offices and three warehouses totaling 8,480 sqm across Thailand, DHL Global Forwarding serves more than 2,000 customers. The new DHL International Multimodal Hub marks a significant investment in strengthening Thailand’s position as a regional trade center. The facility streamlines shipping processes by enabling seamless transitions between different modes of transport and simplifying customs procedures at a single location. This facility also offers valuable connectivity for landlocked neighbors like Laos, providing diverse transportation options.

    Meanwhile, DHL eCommerce’s extensive nationwide delivery network — comprising 151 last-mile depots, over 2,000 vehicles, and 230 service points — ensures full market coverage, with up to 97% next-day delivery service. Committed to continuous innovation, DHL eCommerce invests in advanced solutions to enhance service quality for e-retailers, SMEs, brands, and enterprise customers. A major hub upgrade is planned for 2026 to further strengthen its capabilities.

    Leading the way in sustainable logistics: The green logistics provider of choice

    xWith the company’s goal of achieving net-zero greenhouse gas emissions by 2050, DHL’s commitment to sustainability in Thailand is demonstrated through comprehensive initiatives across all four divisions. The company has made significant progress in vehicle fleet electrification, with all divisions implementing EVs in their operations.

    DHL Express Thailand has emerged as a pioneer, becoming the first international express logistics provider to deploy an e-bike and EV fleet in Thailand. The company has achieved 21% fleet electrification with more than 50 electric vehicles for first and last-mile deliveries. It also supports customers in reducing their scope 3 emissions by utilizing sustainable aviation fuel (SAF) via the GoGreen Plus service.

    DHL Supply Chain reinforces this commitment through its more sustainable transportation with the deployment of more than 30 electric vehicles in collaboration with retail, consumer, and automotive sector customers, while implementing the Certified GoGreen Specialist program, which has trained more than 80% of DHL Supply Chain employees. In addition, the company is implementing sustainable warehousing practices with the development of Thailand’s first fully renewable energy warehouse in 2025.

    DHL Global Forwarding demonstrates more sustainable road freight across Asia through logistics optimization, multimodal transport, and electric vehicles. The EV fleet in Thailand is projected to eliminate 85,000 kilograms of CO2 emissions annually. DHL Global Forwarding leads sustainable logistics innovation through GoGreen Plus, offering carbon emission reduction options via sustainable marine and aviation fuels, enabling customers to easily reduce their main haul carbon emissions across all trade lanes.

    DHL eCommerce has deployed electric vehicles on shuttle routes between depots in Bangkok and urban areas. The company plans to introduce electric linehaul trucks for short-distance routes in Q2 2025. In addition, DHL eCommerce aims to convert 50% of its owned Bangkok last-mile fleet to EVs within the next two years.

  • Nestle takes full control of Chinese confectioner Hsu Fu Chi

    Nestle takes full control of Chinese confectioner Hsu Fu Chi

    Nestle has acquired the remaining 40 per cent ownership in Chinese confectionery company Hsu Fu Chi for an undisclosed sum, after purchasing 60 per cent in 2011.

    Hsu Fu Chi, founded in 1992 by the Hsu family, is a well-known confectionery brand in China. Nestle acquired its original stake for $1.7 billion.

    The acquisition reportedly leverages Hsu Fu Chi’s distribution network to expand Nestle’s snacking and confectionery operations in China.

    “This move combines Hsu Fu Chi’s efficient operations and entrepreneurship with our proven innovation and renovation capabilities, accelerates the development of the Hsu Fu Chi brand and further reinforces Nestle’s presence in China,” said Nestle Greater China region CEO Zhang Xiqiang in a statement sent to Just Food.

    “It also demonstrates our long-term commitment to China and enhances our ability to grow our portfolio of international and local brands in this dynamic market.”

    Nestle announced its action plan last year, which included targeted investments in important categories as well as incremental cost savings of at least US$2.83 billion.