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Tough work bears fruits for the SunMoon Food Company, Singapore News & Top Stories
After rescuing a multinational fruits dealer from insolvency in 2007, finance tycoon Gary Loh spend years "in the trenches" trying to turn the deal around. Combining sand and vision assisted him in restructuring the SunMoon Food Company and gave it the new beginning it needed.
Meanwhile, it has more than 11,000 points of sale around the world with more than 100 different items that range from fruits and vegetable to juice and freeze-dried candy. The decision was made in 2015 after First Alverstone Capital contributed extra capital to the company. In spite of several provocative years, Mr. Loh remained on course and believed in the value and potentials of the SunMoon trademark, which was based on high-quality Fuji oranges.
"Our aim is to be the Airbnb or about the fruits trade and sales businesses by being asset-light and customer-oriented and using the dispensing technology," said Loh, 51. Last year, the company's strategic focus and opportunities for expansion came to the fore of Shanghai Yiguo, one of China's largest e-commerce providers of chilled foods and supported by Alibaba KKR.
Today, the Ukrainian corporation is the biggest owner of a 51 percent share in FunMoon, having invested 15 million dollars in the placing of new 4.5 Euro per share stocks. As a result, Yiguo's Yiguo networks and logistic services can be used by Yiguo to increase its presence in China and broaden its source of supplies. Loh says: "When the Yiguo capital project came, it was like a trip of justification.
This confirmed my visions for SunMoon and our strategic direction. "Having broadened its activities on several front lines - sales network, market and products - the company will continue to place great emphasis on technological and innovative excellence in the years ahead. Agribusiness may not have been as disturbed by new technologies as other industries, but there is a shift.
18 years in rapid succession and the story has not changed: "Technology is the enabler of how we want to move this franchise forward and expand... it' s the moderator. They help you in communicating with your clients and bringing your product to them. SunMoon last September announces that it will use the cloud-based NetSuite OneWorld enterprise performance solution to help SunMoon optimize and administer its expanding ecosystem.
In addition to technological advances, the increasing prosperity of the Asian middle classes and the growing tendency towards a healthier life style offer potential for the SunMoon, which is quoted on the motherboard and has a total capitalization of 66.9 million US dollars. Loh says: "Consumption of perishable fruits continues to rise, the markets are focusing on a healthier life.
" The SunMoon product range includes a burgeoning selection of fruits that include apple, cherry, lemon, avocado, blueberry, young coconut, dragonflower, and pineapple. Next, it targets vegetable and bio commodities and moves to commodities such as garlic, onion, carrot, tomato, green cabbage and brokerage. "Mr. Loh jokes and gesticulates with proud gesticulation on several SunMoon product racks displayed in the Toh Guan Road offices, "I like fruits and veg gies, so I always jest that I'm like a child in a confectionery shop when I'm here.