Miaow Miaow eyes RM100m revenue in five years
Published on: Thursday, August 17, 2017
Kuala Lumpur: Snack food manufacturer, Miaow Miaow Food Products Sdn Bhd, aims to rake in RM100 million in turnover in the next five years from RM53 million recorded in its financial year ended May 31, 2017.Group Managing Director, Chink Poh Cheng, said the target was achievable, supported by the company's branding campaigns and foray into the United States (US) and European countries in the next 12 months."Currently, we market our products locally, but we have made significant progress in penetrating key markets in the Middle East, Asia Pacific and Southeast Asia," he told a press conference on the company's branding direction here, yesterday.ADVERTISEMENT Also present was Malaysia External Trade Development Corporation (MATRADE) Chief Executive Officer, Ir Dr Mohd Shahreen Zainooreen Madros. Chink said the company would be actively participating in trade exhibitions to expand its market, adding that Miaow Miaow snacks were available in over 40 countries and that overseas sales accounted for 66 per cent of the group's revenue."Saudi Arabia is our biggest market, constituting 20 per cent of exports, followed by China, and it is catching up very fast," he said, adding that the company aimed to expand its export reach to 60 countries by 2022. Stay up-to-date by following Daily Express’s Telegram channel.
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He said the company had invested over RM10 million in a 43,600-square feet new factory, mainly to produce pellets, a key element in puff snacks manufacturing. ADVERTISEMENT Scheduled to begin operating by year-end, the new factory is located next to its existing factory in Batu Pahat, Johor, and has the capacity to increase the company's pellet production output to 25 tonnes per day from nine tonnes per day at present. – Bernama