UAE-based LuLu Group, one of the fastest growing retail chains in the world, has set its eyes on Southeast Asia, with plans to open hypermarkets in Malaysia and Indonesia as part of a $500 million expansion strategy in Asia, a report said.
Singapore-based Pacific Carriers said it has entered into an agreement with Dubai's ship building unit Drydocks World to acquire a 67 per cent stake in its Southeast Asian venture, Drydocks World-Southeast Asia (DDW-SEA).
Southeast Asian food makers are reporting a sharp rise in demand on the back of a recovering global economy and rising incomes, suggesting the region's food-related shares may have more room to climb.
From wealthy Singapore to the rapi
Ship and rig builder Drydocks World is aiming to generate $800 million worth of sales from Southeast Asia this year, steady from 2009 as the offshore marine industry stabilises after the financial crisis, said a top executive.