About S&P INTL HLDG Company

We are engaged in food production and trade. Our core products include coconut paddle powder and low-fat coconut paste produced at our factory in Perak. We also produce other foods, such as non-dairy cream and other traditional Southeast Asian food ingredients (such as ketupat) and roasted coconut (kerisik)). Our best-selling core product, coconut paddle powder, is a cooking ingredient widely used in Southeast Asian cuisine, and is also widely used in other cuisines in many parts of the world. We produce our coconut paddle powder by spray drying natural coconut milk extracted from selected fresh coconuts, providing a versatile, easy-to-store product that encapsulates the natural flavor of coconut cream to consumers in an instant and convenient way. According to the Ipsos report, our brands “Santan” and “Cocos” are the main global brands of coconut paddle powder. Our other core product is low-fat coconut paste, which is produced at the same time as the coconut paddle powder production process. Low-fat coconut is used as the main ingredient in fillings and ingredients for bakery and confectionery products. During the track record period, revenue from our core products was approximately MYR 56.4 million, MYR 71.5 million and MYR 82.6 million respectively, accounting for approximately 86.6%, 91.3% and 91.9% of our total revenue, respectively. We also produce other foods, such as non-dairy cream (made from vegetable oil) and other traditional Southeast Asian foods such as ketupat (ketupat) and roasted coconut paste (kerisik)). As part of our product supply, we also sell our coconut milk products purchased from OEM suppliers to our customers. For further details on our product range, please refer to this section “Our Products”. We have a global footprint, and our products are sold to customers in over 40 countries around the world. We mainly sell our products to five categories of customers, namely: (i) OEM customers; (ii) distributors; (iii) industrial customers; (iv) trading companies; and (v) wholesaler customers. For further details about our customers, please refer to this section “Marketing, Sales and Customers - Sales and Customers”. Our own products sold to distributors, industrial and trading company customers are packaged under our “Santan”, “Cocos” and “RasaEnak” brands. We manufacture and sell products packaged under our brands to OEM customers. Our core products are manufactured in the Perak factory. Our Thunderbolt factory is equipped with multi-stage spray dryers. Our production systems (from raw material cleaning to spray drying processes to in-place cleaning functions) are fully automated and centrally monitored. We believe that our fully automated systems and production methods with minimal human intervention ensure that we provide our customers with consistently high quality products. Our Perak plant has a maximum production capacity of approximately 4,500 tonnes of coconut paddle powder per year. We are planning to put our Johor plant back into operation, which will increase our maximum production capacity of coconut powder by about 2,000 metric tons. During the record period, the production of coconut paddle powder produced at our Perak plant was about 3,959 tonnes, 4,432 tonnes and 3,261 tonnes, respectively, with utilization rates of around 88%, 98% and 72% respectively. Please refer to this section “Production - Capacity and Utilization” for further details. We are committed to producing high-quality products that are safe for human consumption. We have adopted and implemented the HACCP standard, which is an internationally recognized management system for addressing food safety. In recognition of our standards and efforts, we have obtained several certifications, including ISO 9001:2008, ISO 22000:2005, and MS 1480:2007 relating to our quality management and food safety. Our products have also passed halal food certification and KOSHER certification, so that our products can be sold to customers of different ethnic groups. We believe these certifications also guarantee the quality and standards of our customers when purchasing and eating our products.