Food Empire (SGX:F03) and Capital A (KLSE:5099), through their respective subsidiaries, Empire International and Santan Food Services, entered into a strategic partnership to develop and launch a new range of ready-to-drink beverages.
Shares of Food Empire were up over 4% in recent trading, while Capital A shares were up nearly 2%.
The two companies will start with a Vietnamese iced coffee product, according to a late Thursday filing with the Singapore Exchange.
The initial product rollout will span in-flight on AirAsia and on-ground zones.
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