QUESTION

Charoen Pokphand Foods Public Company Limited, is an agro$-$industrial and food

conglomerate headquartered in Thailand. It is the world's largest producer of feed and

shrimp, and is also a global top three producer of poultry and pork. Approximately $64$ percent

of its revenue came from overseas operations, with $30$ percent from its home market of

Thailand, and six percent from export operations. It recently acquired Bellisio Foods, one of

the largest frozen food suppliers in the United States, for US$$1$ billion, as well as Westbridge

Foods, a major British poultry producer with turnover of over $340$ Million.

The company's core businesses are livestock and aquaculture. Livestock operations include

chicken broilers, chicken layers, ducks, and swine. In aquaculture, the two main marine

animals are shrimp and fish. Aquatic business include aquatic feed, aquatic breeding, aquatic

farming, aquatic foods and aquatic probiotic with locations across the country. The vertically

integrated businesses incorporate the manufacturing of animal feed, animal breeding, animal