date:Mar 31, 2014
percent of which will go into its foreign business.
That budget excludes funds for acquisitions though the company is looking for overseas buying opportunities, Adirek said. CPF considered bidding for the U.S.'s Smithfield Foods Inc SFD.N, sold last year to a Chinese company for $4.7 billion.
Acquisitions and other forms of expansion have increased debt, which the company intends to pay off by selling non-core assets, Adirek said.
CPF could reduce its 74 percent stake in Hong Kong-listed C.P