Speaking at the official opening of Danone“s new regional office in Millenia Tower, Singapore, France“s ambassador to Singapore, Mr. Francois Barry Delongchamps, said French investments in the count…
Speaking at the official opening of Danone“s new regional office in Millenia Tower, Singapore, France“s ambassador to Singapore, Mr. Francois Barry Delongchamps, said French investments in the country now exceed S$ 1.3 billion with an increasing number of French companies using Singapore as their regional centre for Asia. Danone is one of over 500 French firms that have set up in Singapore with the two countries increasing their collaboration in technology, infrastructure and services. Danone runs 25 companies in 12 Asia-Pacific countries from its Singapore headquarters. With paid-up capital of S$790 million, Danone has financed a number of recent regional joint ventures such as biscuit manufacturing in Indonesia and beer-making in Wuhan. “Our turnover in Asia will exceed US$ 1 billion this year, and we will continue to develop our business very quickly with India, China, Malaysia and Indonesia as our priorities,” said Danone chairman and chief executive Franck Riboud. The turnover is equivalent to S$ 1.41 billion. He declined to give details of Danone“s plans, but said the group wished to double its non-European revenues to FFr 30 billion (S$8 billion) by the year 2000. He was also confident that Danone would achieve its projected 6% growth in net profits for this year.