Happy Valley Nutrition’s development of AU$280mn plant
The dairy nutrition company is looking to develop a new plant capable of processing 1bn litres during its first season
Happy Valley Nutrition (HVN) has announced the development of an AU$280mn milk processing plant in %u014Ctorohanga to begin in early 2020. The company has investors from New Zealand, Australia, Hong Kong and Singapore interested in the development.
General Manager Greg Wood expects construction to begin in late 2020 with the plant’s first output expected for July 2022. The plant is also going to be configured to allow the treatment of a range of milk products rather than the A2 or organic milk with which HVN is used to working. The majority of the product would then be exported to Asia.
"We will be focusing on infant formula milk and infant formula ingredients,” said Wood.
Wood added that the company would start looking for suppliers towards the end of 2020 to gauge interest and get ahead of its procurement schedule. To begin with, the company will expect to process around 100 million litres of milk during its first season.
The company has spoken to several suppliers but none have been locked in thus far. "Whether it's conventional, A2 or organic, that will dictate how many farmers that will be,” said Wood. “I am hesitant to put down a number. It's still too early. We do have a couple of key people in our network that are interested in supplying us."
HVN has been working through the listing process so it may be included in the Australian Stock Exchange, with hopes that this will come to fruition before the end of 2019. According to HVM’s website, this would allow it to look towards global growth in the immediate future. The website also mentioned the construction phase would lead to an income of AU$29mn for the local area and full-time employment for 330 workers. The new plant is expected to expand Waikato/King Country’s regional GDP by AU$95.2mn annually.
Business Chief Legend: Ho Ching, CEO of Temasek
Ask Singaporeans who Ho Ching is, and the majority will answer the ‘wife of Prime Minister Lee Hsien Loong’. And that’s certainly true. However, she’s also the CEO of Temasek Holdings, Singapore’s sovereign wealth fund, and one of the world’s largest investment companies.
Well, she is until October 1, 2021, as she recently announced she would be retiring following 16 years as CEO of the investment giant.
Since taking the reins in 2004, two years after joining Temasek as Executive Director, Ho has gradually transformed what was an investment firm wholly owned by Singapore’s Government into an active investor worldwide, splashing out on sectors like life sciences and tech, expanding its physical footprint with 11 offices worldwide (from London to Mumbai to San Francisco) and delivering growth of US$120 billion between 2010-2020.
Described by Temasek chairman Lim Boon Heng as having taken “bold steps to open new pathways in finding the character of the organisations”, Ho is credited with building Temasek’s international portfolio, with China recently surpassing Singapore for the first time.
As global a footprint as Ho may have however, she has her feet firmly planted on Singapore soil and is committed to this tiny city-state where she was not only educated (excluding a year at Stanford) but has remained throughout her long and illustrious career – first as an engineer at the Ministry of Defence in 1976, where she met her husband, and most notably as CEO of Singapore Technologies, where she spent a decade, and where she is credited with repositioning and growing the group into the largest listed defence engineering company in Asia.
It’s little wonder Ho has featured on Forbes’ annual World’s Most Powerful Women list for the past 16 years, in 2007 as the third most powerful woman in business outside the US, and in 2020 at #30 worldwide.
But it’s not all business. Ho has a strong track record in Singapore public service, serving as chairman of the Singapore Institute of Standards and Industrial Research and as deputy chairman of the Economic Development Board; and is a committed philanthropist with a focus on learning difficulties and healthcare.
As the pandemic kicked off, she not only led active investments in technology and life sciences, with German COVID-19 vaccine developer BioNTech among the most recent additions to Temasek’s portfolio, but through the Temasek Foundation – the firm’s philanthropic arm which supports vulnerable groups close to Ho’s heart, handed out hand sanitiser and face masks.
So, you would be forgiven for thinking that at age 68, Ho might simply relax. But in March 2021, just as she announced her retirement from Temasek, Ho joined the Board of Directors of Wellcome Leap, a US-based non-profit organisation that’s dedicated to accelerating innovations in global health. Not ready to put her firmly grounded feet up yet it seems.