Splash forms Singapore holding company

ABS-CBN News

Posted at Jan 24 2011 12:20 PM | Updated as of Jan 26 2011 03:54 AM

MANILA, Philippines - Homegrown personal care company Splash Corp. has put up a holding firm in Singapore as it prepares for overseas acquisitions this year.

Splash Global Pte. Ltd. will be "used as a vehicle for possible mergers, acquisitions or joint ventures abroad," Splash Corp. chairman and chief executive Rolando Hortaleza said in a statement.

"We're looking at brands or companies that we believe can help solidify Splash Corp.'s presence abroad," he said.

"While Splash is also looking at local companies and brands to acquire, the international market presents many opportunities for us," he added.

The company's international operations account for over 10% percent of its total revenues.

Splash's revenues are expected to reach around P3 billion in 2010, up 15% from P2.71 billion the previous year.

The company expects revenues in 2011 to grow further by at least 20%.
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"For the international markets, we're prioritizing Southeast Asia and Indochina. These are the markets we are aggressively penetrating and investing in this year," Eric Domagas, Splash president and chief operating officer said.

"We are also further expanding our presence to take care of commercial distribution. We are securing additional distribution firms in the aforementioned markets," he said.

Splash also formed a distribution unit in Malaysia called Splash H & B Sdn. Bhd. that will help widen its market reach there.

Splash products are now available in Indonesia, Malaysia, Vietnam, Myanmar, Laos, and Cambodia. They are also sold in the Middle East specifically and Africa.