Major rice cake (snack) producer, Want Want China Holdings Ltd is expecting the overseas markets to drive its sales in the longer term.
The producer will establish a sales company in Indonesia in 1st quarter 2021 while utilising its new capacity in Vietnam to fulfill the strong demand for rice snacks in Southeast Asia.
Want Want also expects sales growth at its dairy business to accelerate in the 2nd half of 2021, on its strict management of channel inventories and a recovery in the catering industry.
In 1996, Want Want was listed in Singapore as Want Want Holdings Pte Ltd but it was later delisted in 2007. In 2008, its subsidiary Want Want China Holdings Ltd was listed on the HK stock exchange. Want Want is often accused for its close links with the Chinese Communist Party.