The shares of Johor cocoa bean processor Guan Chong Bhd have soared more than 170% in the past year.
Johor-based Guan Chong Bhd sits at the epicentre of Asia’s booming chocolate demand. The shares of Guan Chong Bhd have soared more than 170% in the past year in Kuala Lumpur as profits doubled, making the producer of chocolate ingredients the best performer on the Bursa Malaysia Consumer Product Index.
“We’ve been experiencing strong demand since last year,” Tay said, which has helped the company increase the amount of forward sales. Going forward, Tay wants to move his processing plants closer to the bean-growing regions as he seeks to double grinding capacity over the next decade. The world’s top producers are Ivory Coast and Ghana, and Tay said African countries are “quite encouraging in terms of tax incentives. We’ve been studying here and there but it’s not concrete”.
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