Director Liew Fook Meng said the company was currently in talks with several parties for a possible merger or take-over and hoped to conclude the exercise by year-end. However, he declined to elaborate.
“We also aim to grow export sales by 10% this year,” he said, adding that exports made up 40% of Cocoaland’s revenue in 2005.
Cocoaland manufactures and distributes more than 70 types of food products, including fruit gummy and soft drinks, to more than 30 countries.
Among its better-known products are Koko Jelly chocolate, Lot 100 fruit gummy, Koko Tube chocolate, Be Be snacks, Mum’s Bake cookies and Kabi snacks.
Moving forward, Liew said Cocoaland would strengthen its research and development of healthy snacks. He said consumers were becoming more health conscious and there would be higher demand for healthy snacks in the near future.
The company plans to set up by year-end a new factory in Rawang that is expected to commence operation next year. The facility involves a RM11.5mil investment, inclusive of land, building and machinery costs.
Currently, Cocoaland has four existing plants. It can produce up to 500 tonnes of snacks, 250 tonnes of chocolate and sugar confectionery and 700 tonnes of soft drinks a month.
With the new plant, it will have five factories – three in Selangor and one each in Kuala Lumpur and Kampar, Perak.
Cocoaland Holdings Bhd is targeting a 10% growth in revenue this year buoyed by organic growth, said director Liew Fook Meng.
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