SHANGHAI – The Liwayway Group of Companies, the maker of snack brand Oishi, remains on the lookout for expansion opportunities in the Asian region as it celebrates its 70th year in the Philippines and its 23rd year of operations here in China.
In an interview with The STAR, Liwayway chairman Carlos Chan traces the company’s humble beginnings here to a lone government-run store along Nanjing Road.
Through the Nanjing Food Hall, the company was able to introduce its products to the Chinese market.
“It was there where Oishi started. That was our stepping stone. That was where the public saw our products and then they applied as distributors,” Chan said.
One of the first products the company introduced in the Chinese market is the iconic prawn crackers, he said.
Liwayway now boasts of more than 100 snack food and beverage products, at least 8,000 workers, more than 700 distributors and 16 plants here in China.
Aside from Shanghai, the company has snack-making plants in 14 other locations around China such as in Harbin near Mongolia and Xinjiang near Kazakhstan.
“Every year, we try to expand and add new products,” said Carlos’ fourth son Larry, who is in charge of Liwayway’s operations in China.
He said the company is always on the lookout for opportunities in emerging markets.
“There are markets where we can add value,” he noted.
Expansion means the company would set up factories in these countries.
At present, the Liwayway Group has a presence in eight countries: Philippines, China, Vietnam, Myanmar, Thailand, Indonesia, Cambodia and India.
Larry said there’s still room to expand in other parts of the region or strengthen operations in existing areas.
The elder Chan has already identified countries for expansion but declined to provide details, saying plans are still preliminary.
Asked about plans to do a public listing in Hong Kong, Larry said it’s a possibility but stressed nothing is final yet.
If the initial public offering pushes through, it is likely to be a major attraction for investors because Liwayway is now one of the leading food manufacturing giants in Asia.
Citing a recent Euromonitor report, Forbes Philippines said in its October 2015 issue Oishi is among the top five snack food brands in the region, with an estimated market share of 2.2 percent.
Chan’s father Chan Lib, a native of Fujian province who moved to the Philippines in 1914, put up the small business with his wife.