Malee Forms Joint Venture with Indonesian Consumer Giant to Strengthen its International Business, Aims to Tap Into the Purchasing Power of 330 Million People in Two Countries

General Press Releases Thursday November 2, 2017 11:01
Bangkok--2 Nov--ABM

Malee Group continues expanding under its "Reconnect" strategy by strengthening and developing collaborations with leading partners that offer considerable expertise in many areas to develop new products and to increase sales and distribution channels locally and abroad, in order to drive the company in its journey to become a Health-Driven Global F&B Firm that operates sustainably. Malee Group recently took a major step forward by forming two joint ventures with PT Kino Indonesia Tbk, one of the country's largest consumer product businesses and a strong and stable company listed on Indonesia's IDX stock exchange. The two new joint ventures, with 400 million baht registered capital, will conduct business in two countries – Malee Kino (Thailand) Co., Ltd. in Thailand, and PT Kino Malee (Indonesia) Ltd. in Indonesia. The joint venture companies will produce and distribute products to meet the demands of 330 million consumers in Thailand and Indonesia combined.

Mr. Opas Lopansri, Executive Director of Malee Group, says, "Malee Group PCL has signed an agreement with PT Kino Indonesia Tbk, one of Indonesia's leading consumer product businesses, to set up two joint venture companies. The combined registered capital of the two new companies is 400 million baht, of which 50%, or 200 million baht, has been paid up. The joint ventures are Malee's second international investment following Monde Malee Beverage Corporation in the Philippines in 2016."

"Malee selected Indonesia for market expansion as it is a strategically important country in Southeast Asia due to: i) Having the largest population in the region with 260 million people; ii) Significant growth in the middle-income base, from 96 million people in 2015 to 141 million people by 2020, with GDP rising at an average rate of 5% annually, resulting in an enormous economic base with considerable purchasing power; and iii) The strength of PT Kino Indonesia's distribution network. Indonesian consumers are dispersed across thousands of islands, which makes distribution challenging, but our partner is very strong with over 30 distribution centers that reach more than a million outlets throughout Indonesia. PT Kino Indonesia also has expertise in developing and marketing leading products in four segments – personal care, food, beverages, and pharmaceuticals, along with its own research & development arm to create new products."

Mr. Opas continued, "Malee Kino (Thailand) Co., Ltd. will focus on marketing and distributing Kino Group products in Thailand. We will import Kino's personal care products that are suitable for Thai consumers. Meanwhile, PT Kino Malee (Indonesia) will develop new beverage products and expand the market for Malee brand products in Indonesia. We are currently conducting a market study so we can develop products that best meet the demands of consumers in both countries, and expect the businesses to become operational by mid-2018."

"We are confident that these two joint ventures will enhance both companies' competitiveness, while expanding our business into new markets and reinforcing our existing markets in which we operate by offering more diverse products that fully meet consumers' preferences. By combining the strengths and expertise of Malee and Kino, we believe this partnership will drive a leap in growth for our companies." concluded Mr. Opas.

(From left to right: Mr. Opas Lopansri, Executive Director, Malee Group; Ms. Roongchat Boonyarat, Executive Director, Malee Group; Mr. Harry Sanusi, President & Director, PT Kino Indonesia Tbk; Mr. Peter Chayson, Finance Corporate Director, PT Kino Indonesia Tbk)

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