JB Foods, the Malaysia-based cocoa company, has made a clean sweep of all four categories within the Food & Beverages; Food & Drug Retailing industry sector of the Centurion Club.
The company started as a processor of wet cocoa beans to dry cocoa beans in the 1980s. Today, under the leadership of CEO Tey How Keong, it has grown to be one of the major cocoa ingredient producers ithe region, with a total processing capacity of 180,000 metric tonnes of cocoa beans equivalent per year, split between its Tanjung Pelepas facility in Malaysia and another one near the city of Surabaya in Indonesia.
JB Foods’ principal activities comprise the production and sale of cocoa ingredient products, namely cocoa butter, cocoa powder and cocoa mass, under brand name JB Cocoa. Listed in Singapore since 2012, JB Foods has incorporate subsidiaries and set up offices at markets such as the US, Indonesia, China, Switzerland and Estonia, to help sell the products under the brand.
With rising demand for cocoa products, which was up in line with growing mass affluence, JB Foods’ earnings have improved markedly in recent years. In FY2016, it managed earnings of just $3.8 million. But this jumped to $14.2 million the following year and surged again to $26.8 million in FY2018 before maintaining it at $26.2 million in FY2019.
