Daily digest

Food Empire Holdings

FOOD Empire's wholly owned subsidiary Indus Coffee will be undertaking an expansion of its manufacturing facility in India worth US$41.25 million, the company said in a Singapore Exchange filing on Wednesday.

This expansion will be funded through both internal and external resources, including additional capital of US$11.25 million by the company's wholly owned subsidiary EpiQ Food Services; and banking facilities of US$30 million granted by DBS Bank and its branch office in Chennai, India. The US$11.25 million in additional capital will be paid in tranches expected to be completed by Dec 31, 2020.