SYDNEY: To bolster its market presence, BPH Global Ltd (ASX: BP8) CEO Matthew Leonard and CFO Chow Yee Koh are currently on a strategic tour in Malaysia and China. The two-week trip, which began last week, is aimed at fortifying the company’s bird’s nest and hemp operations in the region.

The journey, which also includes China-based Company Director Michael Huang, follows the successful acquisition of Foshan Gedishi Biotechnology Co Ltd in December 2023 and the renewal of key sales and distribution agreements with subsidiaries of China Tobacco in January 2024.

A primary objective of the visit is to secure competitive supply agreements for bird’s nest products, a move that underpins the company’s sales growth ambitions. The executives are building on previous discussions to expand supply arrangements, leveraging the expertise of Director Huang.

The company is also focusing on maximizing sales of bird’s nest products in the lead-up to the Chinese New Year, with sales numbers expected to be released before the month’s end. This initiative is part of a broader strategy to expand BPH Global Ltd’s operational footprint within China Tobacco’s extensive retail network.

Looking ahead, the Mid-Autumn Festival in September presents the next significant retail opportunity. The company is working diligently to expand its supply and retail capabilities to capitalize on this festive period. Additionally, efforts are underway to collaborate with key opinion leaders on Douyin to boost sales.

In a strategic move to diversify its product offerings, BPH Global Ltd is also exploring partnerships with major Chinese banks to supply high-end bird’s nest products for corporate gifting—a prevalent practice in Chinese corporate culture.

The hemp business is another area of focus, with plans to source hemp-based cosmetic products for the Chinese market. However, the company will delay hemp farming activities until it is financially viable to do so.

The company’s board has outlined a 120-day strategic plan with clear milestones, including finalizing transactions and consolidating operations. This plan is seen as a driver for short-term business growth, with the board expressing optimism about the company’s future prospects.

BPH Global Ltd remains committed to transparency and stakeholder engagement as it navigates through these strategic initiatives, aiming to strengthen its position in the competitive market of bird’s nest and hemp products.