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Kenanga Research expects Guan Chong Bhd, a cocoa processing company, to record a higher sales volume in its business next year despite depressed cocoa prices which dampened the industry outlook.
Cocoa processor Guan Chong Bhd's earnings rose 5.6% to RM27.41mil in the third quarter ended Sept 30, 2012 from RM25.94mil a year ago, supported by a 5.9% increase in sales volume and improved profit margin.
COCOA-derived food ingredients manufacturer Guan Chong Bhd (GCB) will focus on capacity building, market expansion as well as research and development (RD) to drive its future business growth, chief executive officer Brandon Tay Hoe Lian said.
Guan Chong Bhd has proposed a secondary listing on theSingapore Exchange Securities Trading Ltd under its corporate exercisewhich includes the issuance of new shares
Guan Chong Bhd is still going ahead with the proposed secondary listing on the Singapore Exchange, dismissing a wire report on Friday that it might scrap the plan.
PETALING JAYA: Cocoa processor Guan Chong Bhd expects the volatile global cocoa prices arising from lower demand and overcapacity to be over by the end of the year.