Latest news with #Singapore-founded
AsiaOne
10-07-2025
- Business
- AsiaOne
Singapore coffee brand Alchemist debuts 2 outlets in Japan, marking first overseas venture, Lifestyle News
Many Singapore-founded brands and companies have made a name for themselves overseas, and it seems coffee specialist Alchemist could be joining that list. The popular homegrown brand, which has several cafes in Singapore and is known for its minimalist aesthetic, has embarked on its first overseas venture with the opening of two outlets in Tokyo, it announced today (July 10). The new outlets, which debuted in late June, are located in the neighbourhoods of Aoyama and Asakusa, and serve more than 10 types of coffee, the brand shared. According to the brand, all coffee beans will be roasted in Singapore and the Tokyo outlets will also adopt Alchemist's philosophy of making quality coffee approachable and accessible for everyone. Both outlets have two floors, with the Aoyama outlet having a seating capacity of approximately 30 seats and the Asakusa outlet larger at about 70. Speaking on why he chose to venture out into Japan, Will Leow, founder of Alchemist, stated in a press release that they've always admired Japan's "deep-rooted coffee culture and attention to detail". "Our mission has always been to create a moment of connection over coffee. Expanding into Tokyo felt like a natural step forward for us, and we're humbled by the warm reception from the local community. We are excited to share our vision with coffee lovers in Japan," he said. Alchemist has plans to open 10 outlets across Tokyo by end 2028. For those who aren't familiar, Alchemist is a Singapore coffee brand founded in 2016 and currently has 11 locations islandwide. And like the new Tokyo outlets, each store in Singapore is also uniquely designed. There, in-season beans are roasted in small batches using methods adapted to each variant's characteristics and conditions, and every outlet consistently offers more than 10 coffee varieties. [[nid:716027]]
Straits Times
04-05-2025
- Business
- Straits Times
With the future of food in flux, these Singapore-listed agribusinesses have room to expand
News analysis With the future of food in flux, these Singapore-listed agribusinesses have room to expand SINGAPORE – The world needs to ramp up food production to feed its growing population, with some estimates putting the amount needed at 70 per cent more by 2050. At the same time, food wastage is alarmingly high owing to inadequate infrastructure, a lack of standardised global market data, and unmet demand for food-trade finance that is affecting many small and medium-sized enterprises. Supply chain inefficiencies also contribute to about 14 per cent of global food loss. These concerns, relayed by Oceanus Group's Mr Peter Koh, have resulted in the integration of technology and sustainability fast becoming a core part of the agribusiness industry, in which Singapore-listed companies play a role. Some are even involved in the entire value chain, from production to retail. A prime example is Singapore-founded Wilmar International, which is Asia's leading agribusiness group. Its operations span from growing crops to processing, branding and distributing a wide range of food and industrial products internationally. Similarly, Golden Agri-Resources encompasses an efficient end-to-end supply chain, from responsible production to global delivery. Asia's pivotal role The global agribusiness market is expected to grow steadily over the next decade or so, according to the Organisation for Economic Cooperation and Development and the United Nations' Food and Agriculture Organisation. The organisations' outlook report for 2024-2033 further notes that emerging economies, particularly in Asia, are expected to play a pivotal role in shaping the global agricultural landscape. Singapore, for instance, has set a 30 by 30 goal, aiming to produce 30 per cent of its nutritional needs by 2030. The initiative was launched in 2019 by the Singapore Food Agency. Under its National Agrofood Policy 2021-2030, Malaysia is also implementing policies that focus on modernising its agriculture through smart practices, research and innovation, among other things. Efforts are being made along the entire value chain. Upstream agribusinesses, which refer to plantations, pastures and resources, are zooming in on enhancing productivity and building capacity. Agribusiness giant Olam International, which is majority-owned by Singapore's investment company Temasek, has recently been tapping technology to produce higher-yielding seeds for replanting. The Singapore-headquartered company, which operates in over 60 countries, said on April 14 that it will invest US$500 million ( S$650 million) in its food ingredients business and divest all remaining businesses and assets over time. It recently sold its stake in a port and logistics operator. Palm oil company Bumitama Agri, which is based in Indonesia and listed in Singapore, has also used water management systems effectively to retain water during droughts and drain excess water during heavy rainfall. In China, Zixin Group Holdings has used biotechnology to come up with different sweet potato varieties and cultivate seedlings. The Singapore Catalist-listed company has leased over 526ha of farmland to produce around 20,000 tonnes of fresh sweet potatoes annually, which are sold in China. Indofood Agri Resources (IndoAgri), on the other hand, is expanding its Tanjung Priok refinery capacity in Indonesia by 450,000 tonnes a year in the second half of 2025, thereby increasing total crude palm oil refining capacity from 1.7 million tonnes to 2.2 million tonnes annually. The Singapore-headquartered company's main business is in Indonesia, where it sells popular brands of cooking oil and margarine products, among other things. The mainboard-listed company's latest annual report out in April showed that its full-year net profit after tax in 2024 more than doubled compared with the year before. Going forward, IndoAgri will expand sales volumes through competitive pricing and enhanced distribution to meet Indonesia's growing population and incomes. Similarly, instant coffee giant Food Empire Holdings is building its first manufacturing facility in Kazakhstan. Situated on a 10ha plot, it is slated to be completed by end-2025 and will produce instant beverage products, with up to half of the products made at the facility to be exported to Central Asia and the Caucasus. Meanwhile, companies involved in downstream activities – such as marketing and distribution – are striving to increase market share through innovative technology and by driving demand for their products. Supermarket operator Sheng Siong Group has opened new outlets in Singapore and China while awaiting tender results for more stores. Duty Free International, which runs the largest duty-free retailer in Malaysia, has continued to implement rigorous cost-control measures and optimise resource allocation, such as by locating the Zon premium travel retail brand at all leading entry and exit points across Peninsular Malaysia. Confectioner Delfi, which is based and listed in Singapore, has developed initiatives to mitigate higher costs, such as of cocoa beans. It has also invested in capacity expansion projects to enhance production capabilities. To drive demand, many agribusiness companies have boosted promotional efforts to sustain or grow market share. Consumer goods specialist Hosen Group experienced a rise in selling and distribution expenses to $3.5 million in fiscal year (FY) 2024 from $3 million in FY2023. This increase was primarily driven by higher spending on promotion and logistics to support increased sales volumes. The home-grown company – which imports and distributes fast-moving consumer goods, as well as develops, processes, trades and distributes chocolate products – also reported an increase in external revenue from house brands by $6.3 million to $62.3 million over the same period, driven by higher sales demand and volume in overseas markets. Another company, Food Innovators Holdings, expanded from leasing restaurants to becoming a one-stop provider for traditional Japanese and Japanese-inspired European cuisine restaurants. Through new collaborations with Japanese restaurant operators, the company is also extending its food retail business reach, and introducing new Japanese cuisine in Malaysia and Singapore. Challenges ahead and the role of technology In addition to food security issues, the agribusiness industry is grappling with significant challenges such as slower economic growth, rising costs, currency fluctuations and geopolitical tensions. To mitigate these risks, businesses can adopt strategic initiatives – such as, for example, diversifying integrated business chains, taking equity stakes in joint ventures or enhancing their assets and processes. Wilmar, for instance, reported a 23.3 per cent drop in FY2024 earnings in March, attributing the decline to ongoing challenges faced by its sugar and palm-refining units in China, exacerbated by weak sugar prices that impacted its milling and merchandise activities. Despite these difficulties, the group has achieved improved results in the first quarter of FY2025, bolstered by strong contributions from its associates and joint ventures. Meanwhile, IndoAgri intends to continue to invest in its existing crude palm oil mills and in improving infrastructure for plantation management. These enhancements can also improve sustainability measures. In 2024 , Delfi demonstrated that sustainability and profitability can coexist to drive long-term value. The confectionery manufacturer installed solar panels at its Indonesian factory and introduced Rainforest Alliance-certified Van Houten chocolate products to support a sustainable cocoa industry and improve farmer livelihoods. It also implemented rainwater harvesting systems, advanced the use of renewable and recyclable materials and collaborated with suppliers on sustainable solutions. On the upstream side, Golden Agri-Resources now has integrated operations focused on technology-driven production and distribution. For example, its Smart Research Institute in Indonesia develops science-based solutions for agronomic practices. Similarly, Bumitama Agri has introduced technology such as drones and mobile apps into its operations to boost its efforts at maximising yield and extraction rates, while keeping operating costs in check. Another example is Oceanus, which has been developing a payment system, Oceanus Digital Network, which provides cross-border payments and trade-centric financial services. Singapore may not first come to mind when one thinks about agribusinesses, but it certainly has some significant players listed and operating here that contribute to the value chain of the industry. And while the business environment is changing, the steps taken by some of the companies may have put them on a strong footing to deal with the challenges ahead. The writer is the market strategist at the Singapore Exchange. Join ST's Telegram channel and get the latest breaking news delivered to you.
