A string of Australian companies have turned to Asia to boost their earnings profile, but the results have been mixed so far.
A LOOK AT SOME AUSTRALIAN COMPANIES IN ASIA
The dairy co-operative is spending up to $300 million on a new factory in western Victoria to help feed the insatiable appetite for infant formula in Asia.
The new plant will ensure the co-operative can deliver supply to US and Indonesian formula makers, and increase production of its own Devondale Natra Start formula.
The telco giant wants to bolster its presence in Asia to help drive growth after buying submarine cable network Pacnet for $US697 million ($A928.96 million) last year.
But management has suffered a setback, with talks with food and drinks group San Miguel about setting up a third mobile operator in the Philippines being called off.
Business is booming at Blackmores, thanks to strong Chinese demand for its vitamin and health supplements.
The company's interim net profit more than doubled to $48.3 million thanks to a 65 per cent jump in revenue.
TREASURY WINE ESTATES
The maker of world famous wines, including Penfolds and Wolf Blass - is benefiting from strong demand for imported wine in China, Japan, Singapore and Malaysia. The winemaker chose Shanghai for the global launch of the 2016 Penfolds release.
The fertility company behind the world's first IVF pregnancy 43 years ago is looking to take advantage of China's recent relaxation of its one-child policy.
The group is eyeing China, the biggest IVF market in the world due, as well as Malaysia to expand its operations.
Solomon Lew's retail group is expanding its stationary chain Smiggle in Asia through two new markets, Malaysia and Hong Kong.
The oil and gas producer is benefiting from its extensive operations in Indonesia, Vietnam, Papua New Guinea, Malaysia and Bangladesh.
Asian production has increased materially since first production from the PNG liquefied natural gas project in April 2014.
The banking giant is hurting from its exposure to Asia, with ANZ recently warning that doubtful business loans will cost it more than expected due to the economic slowdown in the region.
ANZ, which is the most Asia-centric of Australia's big four banks, forecast a credit charge of more than $800 million in its upcoming interim results in May. That's about $65 million more than analysts had expected.
Asia has been a mixed bag for the general insurer, with the company in October abandoning plans to pursue further investment in China.
Chief executive Mike Wilkins said that while IAG believes in the fundamentals of China, its future focus will be on pursuing growth opportunities in Thailand, Vietnam and Indonesia.
RAMSAY HEALTH CARE
Ramsay Health Care recently scrapped its proposed hospital joint venture in western China because several conditions weren't met.
The private hospital operator and Malaysia's Sime Darby Berhad had signed a deal in May 2015 to invest $US135 million for a joint venture with a Chinese healthcare group.