Cocoaland story began when 2 brothers started out as small time vendors selling deep-fried snacks & banana fritters in the Klang Valley. They were later joined by other brothers & moved upstream in their business activities in order to benefit from higher margins.

Mite Food Enterprise Sdn. Bhd. was formed in 1980 as a manufacturing and distributing company. Success finally came in the mid-1980s when the brothers successfully identified a market opportunity for the manufacture of polytubed drinks, which enable the company to venture into the overseas market for the first time, exporting to Middle East, and purchase their own factory, where the group's 2nd sucessful product 'Koko Jelly' was produced. Today Cocoaland Holding Group is managed by 10 siblings.

Cocoaland Industry Sdn. Bhd., which is located in Rawang & Kepong, Selangor Darul Ehsan, is the principal manufacturing arm of the Cocoaland Holding Group, manufacturing mainly chocolates, hard candy, fruit gummy, cookies, wafer, snack and beverage, whilst LB Food Sdn. Bhd., which is located in Rawang, Selangor Darul Ehsan, is the primary trading arm & is responsible for export market of the Cocoaland Holding Group. B Plus Q Sdn. Bhd. which is located in Kampar, Perak Darul Rizuan, mainly manufactures soft drinks, wafer rolls, peas, nuts, jelly cups, snacks & cracker.

The group’s cumulative 9M revenue was flat YoY as the incremental contribution from higher local and overseas demand for its gummy and snacks was offset by lower beverage product volumes from its contract manufacturing business.

AM investment bank given target price RM 2.80