In 1HFY2024 ended June 30, revenue from Food Empire’s Southeast Asia and South Asia segments surged 34.8% and 36.0% y-o-y respectively, and management expects this growth momentum to continue into the second half of the year.
Food Empire Holdings will receive a capital injection of US$40.0 million ($52.20 million) through a partnership with Asean-focused private equity fund manager Ikhlas Capital.
According to an Aug 20 announcement, the capital injection is expected to drive capital expenditure and mergers and acquisitions in Southeast Asia and South Asia, which will enable Food Empire to accelerate its plans for these regions.
