(Yicai Global) June 29 -- Haid Group, a purveyor of feed and animal strains for aquaculture, plans to infuse USD30 million into its wholly-owned subsidiary Kinghill Holdings in Singapore to turn the unit into its supply purchase and foreign investment platform.

The recipient of this largesse also buys and sells raw materials for aquaculture production and invests in overseas equity, Guangdong province-based Haid said in announcing the transfusion on June 27.

The parent's expanding business is driving demand for various bulk agricultural commodity supplies and imported raw materials, the announcement added. Beefing up its overseas business unit will thus help develop the firm's international procurement and trade business and reduce and effectively control inventory.

The subsidiary will also help the company raise its profile in Indonesia, Singapore and Vietnam and cut out a bigger market share for it in the Southeast Asia region.

Editor: Ben Armour