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Tag: cheese

  • Singapore company seeks to increase stake in Vietnam’s largest dairy firm

    Singapore company seeks to increase stake in Vietnam’s largest dairy firm

    A Singaporean shareholder in Vinamilk is seeking to increase its stake in Vietnam’s largest dairy firm. Jardine Cycle & Carriage Ltd has registered to buy 17.41 million shares between January 9 and February 7 through its wholly-owned local subsidiary, Platinum Victory, which will enable it to increase its ownership in Vinamilk from over 10 percent to 11.62 percent.

    At a proposed price of VND125,000 ($5.38) per share, the transaction will be worth VND2.17 trillion ($94.42 million).

    Last year Jardine, Vinamilk’s third largest shareholder, had registered on six different occasions to buy 14-17 million shares to increase its stake to above 11 percent, but was unsuccessful due to unfavorable market conditions.

    It first bought a 3.3 percent stake in Vinamilk in November 2017. Within a month it raised its ownership to over 10 percent.

    In April last year a representative of Jardine’s parent company, Jardine Matheson, became a Vinamilk board member.

    Hong Kong-based Jardine Matheson is one of Asia’s biggest conglomerates with interests in luxury hotels, motor vehicles, property, food retail, transport financial services, and agribusiness and revenues of almost $16 billion in 2017.

    F&N Dairy Investments, a subsidiary of Singapore-based Fraser & Neave Ltd, which is backed by Thai tycoon Charoen Sirivadhanabhakdi, owns a 17.31 percent stake in Vinamilk.

    Vietnam’s dairy industry reported revenues of more than VND100 trillion ($4.4 billion) in 2017, with Vinamilk commanding more than a 50 percent market share.

    According to a report by the EU-Vietnam Business Network, the market is expected to double in size by 2020 as the country’s population, personal incomes and dairy consumption increase.

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  • China lifts soft cheese ban

    China lifts soft cheese ban

    Fans of soft cheeses in China have reason to celebrate after the country reversed a ban on mould-ripened cheeses, allowing imports of Camembert, Brie and Roquefort, European Union officials said Monday.

    From early September, businesses in the country were forbidden from importing cheeses made with certain moulds and bacteria.

    The ban was lifted following meetings last week between European Commission representatives and Chinese quarantine and health officials, the EU’s China delegation said in a statement.

    The National Health and Family Planning Commission issued a note to customs authorities clarifying that bacterial cultures used for the production of these cheeses were not harmful to consumers’ health, thus allowing trade to resume, according to the delegation.

    The statement added that China’s cheese quality standards are “outdated,” and the delegation and French embassy will organize a seminar with Chinese experts to “(limit) the risk of such events re-occurring in the future”.

    Axel Moreaux, manager at French restaurant Paradox in Beijing, celebrated the news.

    “The ban was in place for a short time, so it hasn’t affected our business. Now we can go ahead as normal,” he told.

    “It’s a real relief,” said Vincent Marion, co-founder of Cheese Republic, one of China’s leading online cheesemongers.

    “It is now written in black and white that this category of cheese is legally importable. So it is very positive for the French and European dairy industry,” Marion said.

    The European Union Chamber of Commerce in China previously said efforts were underway to revise China’s national food safety standards for cheese.

    It is unclear why the ban was put into place.

    China has seen a series of scandals over food safety but Western products are widely seen as made to higher standards.

    Dairy products are not a typical part of a Chinese diet, but in recent years cheeses such as mozzarella have become popular as more Chinese hanker after Western dishes such as pizza.

    Strongly flavored mould-ripened cheese is usually only available at restaurants and markets that cater to foreigners.

  • Hokkaido Baked Cheese Tart heading for Vietnam

    Hokkaido Baked Cheese Tart heading for Vietnam

    Hokkaido Baked Cheese Tart will launch into Vietnam next month.

    The Japanese-inspired Malaysian brand has hinted at its debut with a sign over a kiosk under construction in the Saigon Center shopping mall in Ho Chi Minh City.

    Meanwhile, the company’s website announces it is seeking staff members for expansion into Vietnam.

    Hokkaido Baked Cheese Tart has been expanding throughout Asia with stores already in Brunei, Indonesia, Malaysia, Shanghai, Singapore and Australia.

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  • Delayed launch for Pablo Singapore

    Delayed launch for Pablo Singapore

    After a delayed launch, cheese-tart chain Pablo Singapore is set to open in Wisma Atria in the next couple of weeks.

    The Japanese brand had originally been scheduled to open this month.

    On sale will be the chain’s signature 15cm-wide tarts, plus two other flavours – the matcha cheese tart with shiratama mochi and azuki or red beans, and the chocolate cheese tart.

    As in other overseas outlets of Pablo, the “medium” version of the tart will be offered (in Japan, diners can also order a “rare” version that oozes molten cheese filling when sliced).

    There will also be a crustless premium cheese tart with a caramel glaze topping, inspired by creme brulee. Later this year mini-tarts will be added to the menu.

    With 78 seats, the cafe will occupy a 1400 sqft (130 sqm) space on the first level of Wisma Atria, formerly occupied by Omakase Burger.

    Pablo is being brought in by Caerus Holdings, which runs New York confectionery chain Lady M in Orchard Central, Westgate mall and South Beach Avenue.