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LOCKDOWNS following the deadly spread of coronavirus has dented the demand for many consumer items.
KUALA LUMPUR: Guan Chong Bhd, which is the world’s fourth largest cocoa grinder, has earmarked RM120mil for its new cocoa ingredients plant in Cote D'Ivoire (Ivory Coast) in the south coast of West Africa.
PETALING JAYA: The demand for cocoa powder remains robust even during the coronavirus (Covid-19) pandemic due to its diversified usage and this is a positive factor for cocoa grinder Guan Chong Bhd.
KUALA LUMPUR: Shares of Guan Chong Bhd rose over 3% on Monday after the company reported a decent set of numbers for the first quarter ended March 31.
KUALA LUMPUR: Tan Chong Motor Holdings Bhd, Tambun Indah Land Bhd, DRB-Hicom Bhd and Guan Chong Bhd are among the stocks to watch on Monday, according to JF Apex Research.
PETALING JAYA: Guan Chong Bhd is capitalising on high automation capabilities at its facilities to minimise disruptions to its business, even as other cocoa grinders in the region face operating difficulties
Manufacturer’s operations are largely unaffected
MAJOR stockbrokers have yet to press the force selling button, which may affect as low as 20 companies and the tally may go up to 30 companies.
KUALA LUMPUR: Guan Chong Bhd's recently completed acquisition of German chocolate maker Schokinag Holding GmbH is expected to take up 50% of the group's Ivory Coast plant's capacity, which should be sufficient for it to break even, says RHB research.