PH-based Roxas & Co inks $19m JV for coconut processing foray

Roxas Land Corp CEO Santiago Elizalde, RCI chairman Pedro Roxas, Sigma Xynergies Corp CFO Domingo Capistrano, and Sigma Xynergies VP sales & marketing Juan Sison.

Philippine-based holding firm Roxas & Company Inc (RCI) has forayed into the coconut processing business through a joint venture deal with Sigma Xynergies Inc to create a $19 million (P881 million) facility.

RCI chairman and president & CEO Pedro Roxas said the joint venture — named Roxas Sigma Agriventures Inc — will begin operation of the processing facility located in Tupi, South Cotabato by the fourth quarter of 2016.

“Once operational, the facility will be able to process at least 200 metric tons per day of coconuts to produce coconut water concentrate, coconut milk, coconut cream and virgin coconut oil, mostly for export,” Roxas said.

Also read: PH’s Roxas & Co to invest $39.7m for 5 new GoHotels around Metro Manila

South Cotabato, which is within the Soccsksargen region in the central Mindanao, is an area known for its rich coconut plantations, and is strategically located near the General Santos port facilities.

RCI noted the Philippines is considered the biggest coconut exporter in the world.

The listed company is the holding company of the Roxas Group whose main holdings are real estate located in Nasugbu, Batangas; sugar-related assets and businesses under listed Roxas Holdings Inc (RHI), and real estate development through its property arm Roxaco Land Corporation.

Also read: RCI approves creation of $38m energy firm in PH

Only last April, RCI approved investments of up to P1.7 billion for the creation of a new energy firm that will operate a 30 to 50-megawatt renewable energy project in Nasugbu, Batangas.

RCI also announced last February that it is investing P1.7 billion for the construction of five GoHotels around Metro Manila in the next two years. GoHotels is the budget hotel chain of the Gokongwei family.

RCI’s last trading price increased 3.45 per cent or P0.100 to close at P3.00.

Also read:

HK’s First Pacific eyes 51% stake in Roxas Holdings

Singapore Reporter/s

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Following vacancies can be applied for (only in Singapore).   

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.