Reflections on Volume

Big volume without further upside equals distribution
Big volume without further downside equals accumulation

Volume tends to peak at turning points
Volume often precedes price movement
Volume is a relative study

Monday, December 20, 2010

Sozo Global plans RM15m factory for halal products

KUALA LUMPUR: China-based Sozo Global Ltd, which made its debut on the Main Market on Friday, Dec 17, plans to invest RM15 million to set up a halal-food processing factory in Malaysia.

Its chief executive officer and co-founder Shen Hengbao said Sozo – which manufactures ready-to-serve food -- would hire a team to survey the locations for the Malaysian plant. CONSTRUCTION [] could start by mid-2011 and production a year later.

“We are doing a feasible study on the possible location as it should have easy access to our raw materials and export facilities. We are happy that we have the help of Khazanah Nasional Bhd to help us survey the locations and get the proper halal approvals,” he said after the listing ceremony.

The processing plant would produce canned food and ready-to-serve products for the Malaysia market and also Southeast Asia, the Middle East, Europe and the US.

Out of the RM15 million, RM5 million would come from IPO and RM10 million from internal funds.

Shen said the indicative land size for the plant is 8,000 sq metres and its production capacity would be 20,000 tonnes per year.

Khazanah indirectly holds 10.43% stake in Sozo, via its special-purpose fund Agro Treasures, while 57.09% is held by Hengbao Foodstuffs, which is also the promoter of Sozo Global.

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