GCB Cocoa Singapore Enters Indonesia With Investment In ACI

Guan Chong Berhad (GCB), a Malyasian investmen..." /> GCB Cocoa Singapore Enters Indonesia With Investment In ACI

Guan Chong Berhad (GCB), a Malyasian investmen...">
GCB Cocoa Singapore Enters Indonesia With Investment In ACI

Guan Chong Berhad (GCB), a Malyasian investment holding company involved in the manufacture and marketing of cocoa-derived food ingredients, has entered into Indonesian market through its sub-subsidiary, GCB Cocoa Singapore (GCBCS), which had invested Indonesian company PT Asia Cocoa Indonesia (ACI).

GCBCS had invested $5,375,000 in ACI, on June 22, 2010. This investment represents 90% of the issued and paid up share capital of ACI.

The investment is not subject to the approval of GCB since the highest percentage ratio applicable to the Investment is 16.66%. However, the approval of relevant government authorities in Batam, Indonesia, was needed. GCBCS received the approval on July 3, 2010.

After completion of the investment and grant of approval from the relevant government authorities on the investment, ACI will be a 90% owned subsidiary of GCBCS. The investment would allow the Malaysian cocoa manufacturer to expand in this fast growing region.

Once the investment is complete, the directors of GCB Cocoa Singapore namely Tay How Sik and Hia Cheng will also be the directors of ACI.

The investment is not expected to have a material effect on the earnings and net assets of the GCB and its subsidiaries for the financial year ending December 31, 2010.

GCB Cocoa Singapore is a subsidiary of GCB Foods, which in turn is a subsidiary of Guan Chong Berhad. GCB Food offers a range of products under the umbrella brand name 'CacaoRich', and its cocoa related products are currently exported worldwide to the US, South America, Eastern Europe, Western Europe, Middle East and Asia.

Guan Chong Berhad, a subsidiary of Guan Chong Resources, offers cocoa-derived and blended cocoa-derived food ingredients, cocoa related products and cocoa ingredients. It also involves in purchasing and distributing cocoa-derived food ingredients, and also in marketing and promotion activities of chocolate related products and confectioneries.
<span style="font-size: 14pt"><span style="font-weight: bold">GCB Cocoa Singapore Enters Indonesia With Investment In ACI</span></span><br /> <br /> Guan Chong Berhad (GCB), a Malyasian investment holding company involved in the manufacture and marketing of cocoa-derived food ingredients, has entered into Indonesian market through its sub-subsidiary, GCB Cocoa Singapore (GCBCS), which had invested Indonesian company PT Asia Cocoa Indonesia (ACI).<br /> <br /> GCBCS had invested $5,375,000 in ACI, on June 22, 2010. This investment represents 90% of the issued and paid up share capital of ACI.<br /> <br /> The investment is not subject to the approval of GCB since the highest percentage ratio applicable to the Investment is 16.66%. However, the approval of relevant government authorities in Batam, Indonesia, was needed. GCBCS received the approval on July 3, 2010.<br /> <br /> After completion of the investment and grant of approval from the relevant government authorities on the investment, ACI will be a 90% owned subsidiary of GCBCS. The investment would allow the Malaysian cocoa manufacturer to expand in this fast growing region.<br /> <br /> Once the investment is complete, the directors of GCB Cocoa Singapore namely Tay How Sik and Hia Cheng will also be the directors of ACI.<br /> <br /> The investment is not expected to have a material effect on the earnings and net assets of the GCB and its subsidiaries for the financial year ending December 31, 2010.<br /> <br /> GCB Cocoa Singapore is a subsidiary of GCB Foods, which in turn is a subsidiary of Guan Chong Berhad. GCB Food offers a range of products under the umbrella brand name 'CacaoRich', and its cocoa related products are currently exported worldwide to the US, South America, Eastern Europe, Western Europe, Middle East and Asia.<br /> <br /> Guan Chong Berhad, a subsidiary of Guan Chong Resources, offers cocoa-derived and blended cocoa-derived food ingredients, cocoa related products and cocoa ingredients. It also involves in purchasing and distributing cocoa-derived food ingredients, and also in marketing and promotion activities of chocolate related products and confectioneries.<br />
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