Green Monday Holdings, a manufacturer of plant-based pork substitute products and frozen meals and an operator of a chain of vegetarian-focused retail outlets and cafes, said it has raised $70 million in financing from investors, including TPG's The Rise Fund and the massive conglomerate Swire Pacific. It's also a huge infusion of cash for the business arm of what may be Hong Kong's largest vegetarian advocacy group. Born out of a social movement that started on Earth Day in Hong Kong in 2012 (and was inspired by the Meatless Monday campaign in the U.S.), the Green Monday organization advocates for consumers to dedicate at least one day a week to going meatless.
Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Swire Pacific Limited and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers.
Responding to positive Q2 sales figures in China, Coca-Cola (NYSE: KO) is pushing ahead with its plans to open half a dozen new production facilities there before the end of 2020. The facilities themselves are being constructed and operated by a partner of Coca-Cola, Swire Coca-Cola. Swire Pacific (OTC: SWRAY) reported a huge $707 million loss for Q2, which ended on June 30, but hopes its China operations, including the Coca-Cola partnership, will enable weathering the COVID-19 economic storm.