VietNamNet Bridge – Indonesian food manufacturer - Tiga Pilar Sejahtera Food (Aisa) – plans to spend $80 million to expand business in Vietnam and Malaysia this year.

In the Jakarta Post, Mr. Sjambiri Lioe - Chief Financial Officer of AISA - said his company plans to split the amount between the two countries. "We want to buy 90-100% stake in a food company in Vietnam, and hold a large stake in a food firm in Malaysia," he said.

The negotiations with the Vietnamese partner can be completed soon. Meanwhile, negotiation with the Malaysian company is in the early stages. However, Sjambiri refused to reveal the names of the two companies. He only said one company is a manufacturer of biscuits.

"If the takeover plan goes well, we will sell products of these companies on the Indonesian market, while still maintaining market share in their country," he said.

According to the financial statements for the latest quarter, net sales of AISA is $283 million (3,600 billion rupiah) in the first nine months of last year, an increase of 24.1% compared to the same period in 2013. The company's net profit for the period also rose by 14% to 246.8 billion rupiah.

S. Tung