March 4, 2021
Angel Yeast sets up Singapore subsidiary serving Asia Pacific
In a March 3 press statement to Chinese media outlet feedtrade, Angel Yeast announced that it has invested US$1 million in setting up a wholly-owned subsidiary in Singapore to serve the Asia Pacific region.
The Singapore office would be responsible for activities including market development and sales, import-export trade, technical services, brand promotion, product development, and e-commerce. For a start, the Singapore office would focus on sales in Singapore and Malaysia.
Angel Yeast says the move is part of its internationalisation strategy to set up marketing platforms overseas to realise localisation in line with a global marketing approach.
In preparation to enter the Singapore and Malaysia markets, Angel Yeast says it had approached the Singapore government in September last year to establish a Hong Kong office.