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Thursday, January 9, 2014

Industrial chocolate big earner for Guan Chong

Source: http://www.theedgemalaysia.com/index.php?option=com_content&task=view&id=270769&Itemid=79

JOHOR BAHARU (Jan 9): Guan Chong Berhad (GCB), one of the world's
largest cocoa processors, is confident that its industrial chocolate
segment will be a new and potentially substantial revenue earner for the
group.

Managing director Brandon Tay said the projection is based on growing
demand for chocolate globally, which in turn has driven demand for cocoa.

He cited the recently-released report by Euromonitor International which
pointed to a growing appetite for chocolate, with global sales expected
to gain by two per cent annually for the next two years.

"This industrial chocolate segment represents a new and
potentially-substantial revenue stream for the Group, with full year
contributions in this financial year ending December 2014," he said.

Tay told reporters this after the launch of GCB's new industrial
chocolate plant at the Port of Tanjung Pelepas (PTP) here today, by the
Menteri Besar Datuk Seri Mohamed Khaled Nordin.

He said the emerging markets presented the highest growth potential,
with chocolate demand in China alone expected to grow 11 per cent
per-year until 2018, in view of the increasing affluence and consumer
sophistication.

"Chocolate consumption in Brazil and India will also register
double-digit growth in the similar time frame.

"By 2020 Asia is set to become the world's largest chocolate-consuming
region," Tay added.

On GCB's industrial chocolate manufacturing facility located at the PTP,
he said the RM55 million plant will help the group meet growing
international demand for industrial chocolate.

The facility he added, is a natural progression for GCB to further
cement its position in the chocolate industry, and strategically
position it as a complete cocoa ingredient supplier for global consumers.

GCB said Tay, intends to increase the facility's annual production
capacity to 10,000 metric tonnes in the first phase.

The plant is capable of producing 50,000 metric tonnes of industrial
chocolate per annum.

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