Cocoaland ... Jul10

It is exploring a strategic partnership that may require a placement of shares at a discount.

It was “currently in discussions and negotiations with potential partners to broaden Cocoaland’s growth which may lead to new placement of shares at discount”. However to-date no final decision had been taken, and its board would make the necessary announcements at the relevant time.

Cocoaland is Southeast Asia’s largest producer of fruit gummies and one of Malaysia’s leading confectionery producers of snacks and chocolate food products.

The company produces “Koko Jelly”, “Rotong”, “Mum’s Bake” and “Lot 100” gummies as well as “Ribena” pastilles for GlaxoSmithKline and “Sugus” gummies for the Wrigley company.

It first proposed placement on Jan 15 2010 but had it aborted five months later. The company had then intended to place out up to 10% of its shares to raise up to RM15.2 million for working capital.