Tag Archives: Guan Chong

GENERAL MEETINGS: Outcome of Meeting

Type of Meeting Annual General Meeting
Indicator Outcome of Meeting
Date of Meeting 16 Jun 2015
Time 11:00 AM
Venue
Sri Panti 1st Hall 2nd Flr Mutiara Hotel Jln Dato Sulaiman Tmn Century KB No. 779 80990 Johor Bahru
Outcome of Meeting

The Board of Directors of the Company is pleased to announce that all motions as set out in the Notice of Eleventh Annual General Meeting (“AGM”) dated 25 May 2015 have been approved by the Shareholders at the AGM held today.

 

This announcement is dated 16 June 2015.

Recurrent Related Party Transactions

The Board of Directors of GCB wishes to announce that the Company hereby proposes to seek the shareholders’ approval for the proposed renewal of existing shareholders’ mandate and new shareholders’ mandate¬†for recurrent related party transactions of a trading nature (“RRPT”)¬†(“Proposed Shareholders’ Mandate”) and proposed renewal of authority for the Company to purchase its own shares (“Proposed Renewal of Shares Buy-Back Mandate”).

The Company had on 25 June 2014, obtained its shareholders’ mandate to enter into RRPT which are necessary for the day-to-day operations of GCB and its subsidiaries and to purchase in aggregate of up to 10% of its issued and paid-up share capital. The said mandate shall lapse at the conclusion of the forthcoming Annual General Meeting of GCB to be held by June 2015 (“AGM”), unless approval for its renewal is obtained from the shareholders of the Company at the forthcoming AGM.

A Circular to Shareholders containing the details of the Proposed Shareholders’ Mandate and Proposed Renewal of Shares Buy-Back Mandate will be dispatched to the Shareholders of GCB in due course.

This announcement is dated 21 April 2015.

[StarBiz] Industrial chocolate to be substantial revenue earner for Guan Chong

JOHOR BAHARU: 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 2% 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 SeriMohamed Khaled Nordin.

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

“Chocolate consumption in Brazil and India will also register double-digit growth during 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 RM55mil plant will help the group meet the 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 the company 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.

[The Star] Guan Chong Q3 earnings up 5.6% to RM27.4m, dividend 2 sen

KUALA LUMPUR: 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.

It said on Friday the higher profit was achieved in spite of a 4.7% decline in revenue to RM348.47mil from RM365.72mil a year ago due to lower average selling prices of cocoa ingredients and the drop in cocoa bean prices.

Earnings per share were 5.76 sen compared with 5.44 sen. Its dividend was 2.0 sen compared with 4.0 sen a year ago.

Its managing director and CEO Brandon Tay Hoe Lian said the better earnings were despite the challenging markets in the US and Europe, and volatile prices for raw materials.

“GCB was able to weather the storm as we continued to find new markets and maintained an efficient cost structure for our plants in Pasir Gudang and Batam,” he said.

On the 2.0 sen dividend, the company said it had paid 9.0 sen per share so far in FY12, or RM31.8mil, which was in line with its dividend policy of paying 25% of net profit to shareholders.

Guan Chong’s nine-months earnings increased by 3.9% to RM94.02mil from RM90.47mil in the previous corresponding period. Revenue rose 2.5% to RM1.015bil from RM990.36mil.