SUGA International Holdings Limited (“SUGA” or the “Group”) (stock code: 912), a leading electronics total solutions provider that also operates a smart pet products and pet food business, today announced that Mr. NG Man Chun, Anthony, Chief Executive Officer of SUGA’s WePet Group, participated in the “Belt and Road” Indonesia Mission organized by the Hong Kong Young Industrialists Council (HKYIC) as a representative of the business community, alongside more than a dozen members of the HKYIC, including its Chairman, Mr. Felix Choi. They met with local government and business representatives to gain insights into the local business environment and industry development trends as well as to introduce Hong Kong’s advantages and the latest economic developments, so as to explore future cooperation opportunities.
On the first day of the visit, the delegation met with the Hong Kong Economic and Trade Office in Jakarta, the Indonesia-Hong Kong Business Association, the Employer Association of Indonesia, and the Bank of China (Hong Kong) to explore opportunities for economic and trade cooperation between Hong Kong and Indonesia. The following day, the delegation met with officials from the Economic and Commercial Office of the Embassy of the People’s Republic of China in the Republic of Indonesia, as well as representatives from the Ministry of Foreign Affairs of Indonesia, the Indonesian Industrial Estates Association and the Indonesian Chamber of Commerce and Industry (KADIN) to engage in in-depth discussions on investment policies, industrial development, and supply chain collaboration. In addition, the delegation conducted an on-site inspection of the DPMPTSP Provinsi Jawa Tengah and the largest industrial development zone in the area, Kendal Industrial Park (KIP), as well as the factory of PT GFT Indonesia Investment, the largest OEM toy manufacturer in Southeast Asia, to gain a better understanding of the factory environment and operational model.
In 2024, the Association of Southeast Asian Nations (ASEAN) was Hong Kong’s second largest goods trading partner. The total value of goods traded between Hong Kong and ASEAN amounted to HK$1,289.6 billion in 2024, and the total value of services traded between the two was HK$111.4 billion in 2022. As the headquarters of ASEAN, Indonesia is located at the heart of the Asia-Pacific region, boasting a prime geographic position and a prominent role as a major transportation hub, which enables it to effectively reach markets in Southeast Asia, the Middle East, and Oceania. In addition, with a population of over 280 million, Indonesia is the fourth most populous country in the world and has a huge domestic market. Indonesia signed free trade and investment agreements with Hong Kong via ASEAN (effective as of 4 July 2020). Its rapidly growing middle class and spending power have brought huge development opportunities to the manufacturing and retail industries.
SUGA Group launched the “China Plus One” strategy as early as 2018, taking the lead in investing in a 40,000-square-meter modern factory in Vietnam to form an interconnected production system with the high-tech industrial park in Dongguan, China. Through this visit, the Group will be able to further assess the investment environment in Indonesia, laying the foundation for the possible future expansion of production bases. Against the backdrop of increasing global economic uncertainty, SUGA Group is actively exploring the potential of the Southeast Asian market, seeking to diversify its supply chain and tap new growth drivers. Given the tremendous potential of the Indonesian market, SUGA hopes to explore more cooperation opportunities and continue optimizing the Group’s regional presence through this visit.
Photo Caption:
Mr. NG Man Chun, Anthony (far right in the first row) accompanied the delegation to visit the Hong Kong Economic and Trade Office (HKETO) in Jakarta
Mr. NG Man Chun, Anthony (far left in the first row) accompanied the delegation to meet with representatives of the Economic and Commercial Office of the Embassy of the People’s Republic of China in the Republic of Indonesia
