Haisan made pre-tax profits of RM2.98 million and RM5.61 million in the year ended December 2003 and 2002 respectively. The integrated refrigeration specialist posted a turnover of RM40.6 million last year ended with RM40 million in 2002.
The TCL services and warehousing division contributed RM18.8 million, or about 46 percent, to the total revenue in 2003.
Refrigeration engineering and ice manufacturing contributed 28 per cent or RM 11.3 million, and 26 per cent or RM10.5 million respectively to the group’s revenue in 2003.
Haisan will expand the production of Iglo Guangzhou from current 1,700 to 5,300 pallets by next year, Ong said in an interview.
Phase One of the expansion will be operational by the first quarter of 2005.Iglo Guangzhou was incorporated in February 2003 to provide total temperature logistics in China’s Guangzhou province for walls China.
Haisan will use Iglo Guangzhou as a spring-board to move to other Chinese provinces.
Ong said with China’s population of over one billion, there is a huge market in which the company can tap
The Philippines facility is currently operating at 5.700 pallets, and will be expanded by another 3.000 pallets to a total of 8.700 pallets by mid-2005.
Ong said following Iglo (M) Sdn Bhd’s successful track record with the Unilever Group in Malaysia, Iglo Philippines was subsequently awarded a five-year contract with Selecta Walls Philippines to provide logistics services for its ice-cream products. | Additionally, Iglo Philippines will be providing TCL services to customers within the frozen meat industry, confectionery, agricultural products and other non-food items. Overall, Haisan expects better performance this year as the TCL/warehousing services are expected to grow further in tandem with the increased acceptance and demand for frozen food worldwide.
Most of Haisan’s domestics TCL business come from large food companies like Ayamas, Macfoods and Pizza Hut, which have months of stock like French fries and chicken nuggets in cold storage.
The TCL business transport, stores, packs and labels good in a cold environment that ranges from -28 Celsius to 40 C.
Cold container trucks dock at Haisan’s storage facility, and the goods are unloaded directly from the containers into a 10 C areavia sealed doorways before being carted off into the chill or freeze chambers.
This ensures minimum spoilage, return business and for Haisan, regional expansion, Ong explained.
Haisan’s third core business is manufacturing ice in the forms of block ice and tube ice for the fishery industry and the industry’s use in the wholesale market.
The tube ice is mainly sold to ice dealers and agents who in turn distribute to the end-users.
Currently, Haisan has the capacity to produce 300 tones of block ice and 200 tonnes of tube a day. |
