Press Coverage on Splash Corp’s Singapore Holding Company

1. BUSINESS WORLD

January 24, 2011 10:37:10 PM

Splash sees 20% growth, forms Singapore unit
HOMEGROWN personal care products manufacturer Splash Corp. expects faster growth this year due to international expansion, announcing the establishment of a new overseas unit based in Singapore to look for acquisitions.The company expects to firm up distribution and acquisition plans locally and in neighboring Southeast Asian countries this year, it told the local bourse yesterday.

“Splash’s revenues are expected to [have reached] around P3 billion in 2010, up 15% from P2.71 billion the previous year. The company expects revenues in 2011 to grow even further by at least 20%,” the company said in a disclosure.
“We are very excited about the opportunities the international market presents our company,” Rolando B. Hortaleza, Splash chairman and chief executive, said in the disclosure.
“By firming up our position in the Southeast Asian and Indochina markets, we are confident we can obtain the growth targets we set in 2011,” he added.

After entering the international market in 1998, the firm’s products are now sold in more than 45 countries including Australia, Canada, Hong Kong, India, Iran, Japan, Korea, Saudi Arabia, Singapore, and the United States. In Asia, Splash products are now sold in Indonesia, Malaysia, Vietnam, Myanmar, Laos, Cambodia and the Middle East.

“For the international markets, we are prioritizing Southeast Asia and Indochina. These are the markets we are aggressively penetrating and investing on this year,” said Eric Roel E. Domagas, president and chief operating officer of Splash. Mr. Domagas said the company will acquire distribution firms in Southeast Asian countries to spur growth.
Splash said it has set up Splash Global Pte. Ltd., a Singapore-based holding company, for possible international acquisitions this year. Mr. Hortaleza said the firm would “be used as a vehicle for possible mergers, acquisitions or joint ventures abroad.”

“We are looking at brands or companies that we believe can help solidify Splash’s presence abroad,” Mr. Hortaleza added.
International operations of the personal care manufacturer account for more than a tenth of total revenues.Splash, which has also formed Splash H & B Sdn. Bhd. for its distribution operations in Malaysia, said it is also looking for local companies and brands to acquire.

The company, which was formed in 1991, is into the development, bottling, packing, and marketing of cosmetics, beauty, and pharmaceutical products in the Philippines and abroad. Splash products and brands are classified into four basic categories: haircare, skincare, “naturals,” and health and wellness.

Profits of the firm hit P60.66 million in the nine months that ended in September last year, almost five times the P12.31 million recorded the year before.

Last week, Splash announced a capital expenditure budget of P426 million for this year, more than 11 times last year’s P37.9 million, to hike production.

Shares in Splash, whose brands include Vitresse, Control, Skin White, and Biolink, fell by P0.11 to P2.50 each yesterday. — Neil Jerome C. Morales

2. TRIBUNE

Firm splashes into Asia, forms Singapore company
By Danessa O. Rivera
01/25/2011

Local cosmetics maker Splash Corp. formed a holding company in Singapore to pave the way for its possible international acquisitions this year.

Splash Corp. chairman and CEO Rolando Hortaleza said the company formed Splash Global Pte. Ltd. to be used as a vehicle for possible mergers, acquisitions or joint ventures abroad. “We’re looking at brands or companies that we believe can help solidify Splash Corp.’s presence abroad,” he said.

“While Splash Corp. is also looking at local companies and brands to acquire, the international market presents many opportunities for us,” Hortaleza added.

The company’s international operations account for over 10 percent of the total revenues of Splash.
Splash Corp.’s revenues are expected to reach around P3 billion in 2010, up 15 percent from P2.71 billion the previous year. The company expects revenues in 2011 to grow even further by at least 20 percent.

“For the international markets, we’re prioritizing Southeast Asia and Indochina. These are the markets we are aggressively penetrating and investing on this year,” Splash president and COO Eric Domagas said.He added that they are also further expanding their 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. Bh

3. MANILA BULLETIN

Splash puts up Singapore unit for int’l acquisitions
January 25, 2011, 2:23am

MANILA, Philippines – Homegrown personal care company Splash Corporation has opened a holdings company in Singapore in preparation for possible international acquisitions this year.

In a statement, Splash chairman Rolando Hortaleza said the company organized Splash Global Pte. Ltd. to “be used as a vehicle for possible mergers, acquisitions or joint ventures abroad.”

“We’re looking at brands or companies that we believe can help solidify Splash Corporation’s presence abroad. While Splash is also looking at local companies and brands to acquire, the international market presents many opportunities for us,” Hortaleza explained.

Splash’s international operations account for over 10 percent percent of the company’s total revenues. Splash’s revenues are expected to reach around P3 billion in 2010, up 15 percent from P2.71 billion the previous year.
The company expects revenues in 2011 to grow even further by at least 20 percent to over P3.6 billion.
“For the international markets, we’re prioritizing Southeast Asia and Indochina. These are the markets we are aggressively penetrating and investing on this year,” Splash president Eric Domagas 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 Corporation also formed a distribution unit in Malaysia called Splash H & B Sdn. Bhd. that will help widen its market reach in the area.

“We are very excited about the opportunities the international market presents our company. By firming up our position in the ASEAN and Indochina markets, we are confident we can obtain the growth targets we set in 2011,” Hortaleza said.
Splash products are now available in Indonesia, Malaysia, Vietnam, Myanmar, Laos, and Cambodia. It is also sold in the Middle East specifically and Africa. (JAL)

4. PHILIPPINE STAR

Splash forms holding firm in Singapore for overseas ventures
By Zinnia B. Dela Peña (The Philippine Star) Updated January 25, 2011 12:00 AM

MANILA, Philippines – Splash Corp., a leading Filipino-owned beauty and personal care products maker, is setting its sights on acquisitions overseas through its recently formed holding company in Singapore.

Dr. Rolando Hortaleza, chairman and chief executive officer of Splash, said the new company – Splash Global Pte. Ltd. – would serve as the group’s vehicle for possible mergers, acquisitions or joint ventures in the international markets.

“We are very excited about the opportunities the international market presents our company. By firming up our position in the Asean and Indochina markets, we are confident we can obtain the growth targets we set in 2011,” Hortaleza said.

He said the company is looking at brands or companies that would help solidify Splash’s presence abroad. He, however, pointed out that the company remains on the lookout for other possible acquisitions in the Philippines.

International operations account for over 10 percent of Splash’s total revenues. The company expects to register revenues of around P3 billion in 2010 or 15 percent higher than the P2.71 billion registered a year earlier.

For this year, Splash is looking at a more than 20 percent rise in revenues.”For the international markets, we’re prioritizing Southeast Asia and Indochina. These are the markets we are aggressively penetrating and investing on this year,” said Eric Domagas, president and chief operating officer of Splash.

“We are also further expanding our presence to take care of commercial distribution. We are securing additional distribution firms in the aforementioned markets.”Splash also formed a distribution unit in Malaysia called Splash H & B Sdn. Bhd. that will help widen its market reach in the Asean area.Splash products are now available in Indonesia, Malaysia, Vietnam, Myanmar, Laos, and Cambodia. It is also sold in the Middle East and Africa.

5. PHILIPPINE DAILY INQUIRER

Splash sets up holding firm for overseas forays
Manufacturer prepares for foreign acquisitions
By Daxim Lucas
Philippine Daily Inquirer
First Posted 21:11:00 01/24/2011

Filed Under:business, Mergers – Acquisitions – Takeovers, Joint Ventures, Global Expansion
MANILA, Philippines—Publicly listed Splash Corp. said on Monday it had recently set up a holdings company in Singapore in preparation for “possible international acquisitions this year.”
In a disclosure to the Philippine Stock Exchange, the chairman and CEO of the personal hygiene products maker, Rolando Hortaleza, said the company had formed Splash Global Pte. Ltd. to “be used as a vehicle for possible mergers, acquisitions or joint ventures abroad.”

“We’re looking at brands or companies that we believe can help solidify Splash Corp.’s presence abroad,” he said in the statement. “While Splash is also looking at local companies and brands to acquire, the international market presents many opportunities for us.”

The company’s international sales account for over 10 percent of its total revenue, it said.
Splash added that its 2010 sales were expected to have reached “around P3 billion,” representing a 15-percent increase from the P2.71 billion recorded in 2009.

The company said in the statement that it expects revenue in 2011 to grow “by at least 20 percent.”
“For the international markets, we’re prioritizing Southeast Asia and Indochina,” the company’s president and COO, Eric Domagas, said. “These are the markets we are aggressively penetrating and investing in this year.”
He added that Splash was also expanding its presence in the field of commercial distribution by entering into more distributorship agreements in foreign markets.

Splash recently formed a distribution unit in Malaysia called Splash H&B Sdn. Bhd., which will help widen its market reach in the area.

“We are very excited about the opportunities the international market presents our company,” Hortaleza said. “By firming up our position in the Asean and Indochina markets, we are confident we can obtain the growth targets we set in 2011.”
Splash products are now available in Indonesia, Malaysia, Vietnam, Myanmar, Laos and Cambodia. It is also sold in markets in the Middle East and Africa.
On the PSE, shares of Splash ended the trading session at P2.50 per share, lower by 4.2 percent from the previous session’s close of P2.61.

Value turnover on the stock was light, with only P130,000 worth of shares changing hands.
At present levels, the company has a market capitalization of P1.7 billion.

6. MANILA STANDARD TODAY

Elaine Ramos Alanguilan for Tuesday (1.25.2011)

Personal care products manufacturer Splash Corp. has established a holding company in Singapore to be used as vehicle for its planned expansion in the international markets.

Chairman and chief executive Dr. Rolando Hortaleza saidin a disclosure to the Exchange yesterday that the company formed Splash Global Pte. Ltd. as it eyes possible mergers, acquisitions or joint ventures abroad.”We’re looking at brands or companies that we believe can help solidify SplashCorp.’s presence abroad,” said Hortaleza. “While Splash is also looking at localcompanies and brands to acquire, the international market presents manyopportunities for us.”He said its international expansion would help boost thecompany’s growth moving forward.

To date, its international operations accountfor about 10 percent of the company’s total revenues. So far, revenues are seen
reaching P3 billion in 2010, 15 percent higher than the P2.71-billion that wasrecorded in 2009.

The company also expects revenues in 2011 to grow even furtherby at least 20 percent. “For the international markets, we’re prioritizing Southeast Asia and Indochina. These are the markets we are aggressivelypenetrating and investing on this year,” Eric Domagas, Splash president and chief operating officer.

“We are also further expanding our presence to takecare of commercial distribution. We are securing additional distribution firms in the aforementioned markets.” The publicly listed firm also formed adistribution unit in Malaysia called Splash H & B Sdn. Bhd. that would help widen its market reach in the area. “We are very excited about the opportunities the international market presents our company. By firming up our position in the Asean and Indochina markets, we are confident we can obtain the growth targets we set in 2011,” Hortaleza said. Splash products are now available in Indonesia, Malaysia, Vietnam, Myanmar, Laos, and Cambodia. It is also sold in the Middle East and Africa. The company, which started out as a family business, now commands a dominant share of the mid- to low-priced personal care market.

7. MANILA TIMES

Splash to resume overseas expansion
Tuesday, 25 January 2011 00:00

SPLASH Corp. projects to surpass its growth last year, as it gears up to resume its overseas expansion this year. In a statement, the homegrown personal care product manufacturer said it expects its expansion in the international market to help increase its revenues by at least 20 percent this year, higher than the projected growth of 15 percent in 2010.

“While Splash Corp. is also looking at local companies and brands to acquire, the international market presents many opportunities for us,” Rolando Hortaleza, Splash chairman and chief executive officer, said.

The company’s products are also sold in Southeast Asia, the Middle East and Africa.

The company’s international operations account for over 10 percent of its total revenues, which was expected to reach P3.00 billion in 2010 from P2.71 billion in the previous year.

Its net income grew four-fold in the first nine months of 2010 to P60.66 million from P12.31 million in 2009.

In its bid to improve its market abroad, Splash formed a holding firm in Singapore called Splash Global Pte. Ltd. to “be used as a vehicle for possible mergers, acquisitions or joint ventures.”

“We’re looking at brands or companies that we believe can help solidify Splash Corp.’s presence abroad,” Hortaleza said.

Splash also formed a distribution unit in Malaysia called Splash H & B Sdn. Bhd. to help widen its market reach in the area.

Eric Domagas, Splash president and chief executive, said the company plans to prioritize Southeast Asia and Indochina in their expansion this year. It would also secure additional distribution firms in the said markets.

The company has programmed a P426.00 million in capital expenditures this year from P37.90 million in 2010.

Splash shares fell from P2.61 on Friday to P2.50 each on Monday.
DARWIN G. AMOJELAR AND KRISTA ANGELA M. MONTEALEGRE

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