CGS-CIMB Research analyst Tay Wee Kuang is upbeat on Japfa following its announcement of the acquisition of two dairy farms located in Shandong, China for US$123.4 million ($166.10 million) on June 28.

Japfa’s 75%-owned subsidiary AusAsia Investment Holdings will acquire the entire issued capital for Falcon Dairy Holdings (Falcon) for US$123.4 million ($165.5 million). Falcon holds 100% interest in Pure Source Farm Company, which in turn owns the two dairy farms.

See also: Japfa acquires two dairy farms in China for US$123.4 mil

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