ALLIANCE Select Foods International, Inc. (ASFII) on Monday said it is consolidating its sales and marketing operations in the Philippines, after shutting its office in Bangkok, Thailand.
“The consolidation does not mean that we will no longer be present in Thailand. We will simply expand our marketing capabilities here in our Philippine headquarters from where we can continue fulfilling the functions of the office in Bangkok,” ASFII President Raymond See was quoted as saying in a statement.
Alliance Select Foods International (Thailand) Co., Ltd. (ASFIT) was formed in May 2004.
However, the parent company no longer sees the need to maintain a physical office in Thailand.
“Our office in Thailand was instrumental to the development of our market and has served its purpose well. We now have a solid network that can be handled through our headquarters here in the Philippines, and the closure is simply part of our plan to innovate and integrate our sales offices,” Mr. See said, noting the move will cut unnecessary expenses.
ASFII is a homegrown firm involved in tuna processing, canning, and the export of canned tuna products to international markets such as Europe, North America, Asia, Africa, South America, and the Middle East.
The listed company reported a net income attributable to the parent of $3.23 million in the first nine months of 2018, 680% higher than the $414,327 it posted in the same period a year ago. This followed a 39% increase in gross revenues to $74.15 million.