62
Singapore’s leading biscuit manufacturer, Khong Guan has recently announced a S$1.5 million (US$1.12 million) investment in SGProtein, a producer and seller of plant-based meat alternatives. The biscuit manufacturer has agreed to acquire a 30% stake in the company, making it an associated company of Khong Guan.
“The proposed investment in SGProtein represents a new and exciting opportunity for growth for the company in Singapore and the region, which are expected to offer a nascent but growing and potentially sizeable market for plant-based food products,” according to a statement by Khong Guan.
Khong Guan will fund the proposed investment through internal resources.
