October 4, 2007

CPF remains serene on its Burmese investments

While Thai companies with investments in neighbouring Burma are now viewing the political unrest with great consternation, Thai food giant Charoen Phokphand Foods (CPF) remains relatively serene, despite having multi-million feed and chicken facilities there.

Burma has been embroiled in a series of political protests and crackdowns in recent weeks as monks and the general population protested high fuel prices.

However, Charoen Pokphand (CPF) Group executive vice president Sarasin Viraphol said the unrest had not affected his group's business in the country and said the unrest would not impact Thai-Burmese investments. This is especially so for CP's projects, which were food businesses of benefit to the country.

Still, CPF is closely following developments and taking precautions, he said.

Despite widespread international condemnation of the ruling military junta in the country, the company still sees Burma as a country of investment potential.

CPF gained government approval more than 10 years ago to grow corn in Burma for the livestock-feed industry. It established the Myanmar CP Livestock feed mill in 1997 and eight years later, it set up four plants with a total production of 24.4 million chickens per year.