{"id":329347,"date":"2024-09-09T06:30:35","date_gmt":"2024-09-08T22:30:35","guid":{"rendered":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/?p=329347"},"modified":"2024-09-09T06:30:37","modified_gmt":"2024-09-08T22:30:37","slug":"trade-the-news-cnpf-spending-40-million-for-misamis-coco-facility","status":"publish","type":"post","link":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/trade-the-news-cnpf-spending-40-million-for-misamis-coco-facility\/","title":{"rendered":"Trade the News: CNPF spending $40 million for Misamis coco facility"},"content":{"rendered":"\n
Potential Impact of this News<\/strong><\/td>POSITIVE on the stock price<\/strong><\/td><\/tr>
Company<\/strong><\/td>Century Pacific Food Inc.<\/td><\/tr>
Stock Code<\/strong><\/td>CNPF<\/td><\/tr>
Long-term Recommendation on the Stock<\/strong><\/td>Hold<\/td><\/tr>
1-Year Target Price<\/strong><\/td>PHP 39.54<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
<\/div>\n\n\n\n

Century Pacific Food Inc. (CNPF), the listed food and beverage firm of the Po family, is investing about $40 million to acquire and improve a coconut processing facility in Mindanao.<\/p>\n\n\n\n

In a stock exchange filing, CNPF said it is taking over Coco Harvest Inc., a company that owns a coconut processing facility in a six-hectare property in Misamis Occidental.<\/p>\n\n\n\n

The facility, built in 2016, can produce higher-value coconut-based products such as coconut water, coconut milk, desiccated coconut and virgin coconut oil.<\/p>\n\n\n\n

CNPF said that combined with further investments in facility improvements, the total capital expenditure allotted for acquiring 100 percent interest in Coco Harvest amounts to about $40 million.<\/p>\n\n\n\n

The company will use internally generated cash flow from operations to finance the investment.<\/p>\n\n\n\n

CNPF expects to generate more than 1,500 quality manufacturing jobs in Mindanao with the capacity expansion, which will create demand for auxiliary services needed by the plant as well as provide market access for the harvests of coconut farmers in the region.<\/p>\n\n\n\n

CNPF president and CEO Ted Po said the deal is an accretive acquisition for the company.<\/p>\n\n\n\n

\u201cMore importantly, it marks a significant milestone for the company. Our coconut business, encompassing domestic and export, has grown substantially these past few years on the back of burgeoning trends in health and wellness,\u201d Po said.<\/p>\n\n\n\n

\u201cThe additional capacity from Coco Harvest will bolster our capability to serve rising demand, with room for expansion as the business grows,\u201d he said.<\/p>\n\n\n\n

(News Source: Philippine Star<\/a>)<\/em><\/p>\n\n\n\n

<\/div>\n\n\n\n

This report is prepared by PinoyInvestor\u2019s partner broker below. Find out more about our partner brokers<\/a> and sign up to avail their complete trading brokerage services.<\/em><\/em><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Take advantage of the price opportunity that might arise when the news hits. Trade the news!<\/p>\n","protected":false},"author":11,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1371],"tags":[],"class_list":["post-329347","post","type-post","status-publish","format-standard","hentry","category-trade-the-news","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-33"],"_links":{"self":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/329347","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/comments?post=329347"}],"version-history":[{"count":1,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/329347\/revisions"}],"predecessor-version":[{"id":329349,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/329347\/revisions\/329349"}],"wp:attachment":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/media?parent=329347"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/categories?post=329347"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/tags?post=329347"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}