Towards this end, D’nonce has already announced a 20% private placement that Lay Hong is likely to participate in. Sources said that Lay Hong believes that there is a lot of optimism in the food products business, where the trend is moving towards producing ready-to-eat food. NH Foods, which is also the fifth largest in the world by sales, took up a 21.77% stake in Lay Hong last year. It’s easy to fathom why Lay Hong is buying into D’nonce as the latter does all sorts of packaging, whether for paper or plastic products. Meanwhile, NH Foods has huge plans to enhance its business presence in South-East Asia through the JV with Lay Hong.

Source: The Star November 03, 2016 00:00 UTC