Mofaz enters fast lane to widen overseas reach
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CURRENCY CONVERTER
THE Mofaz Group will promote and export its food and beverages products overseas more aggressively including via the international motorsport arena, to ride out the global economic downturn, its chief Mohamed Fauzy Abdul Hamid said.
For a start, it will market and promote its healthcare products particularly the Macho energy drink in China, Hong Kong and Macau with the help of a Chinese trader and its participation in a global racing championship.
Fauzy said its overseas reach would be stretched to the Middle East, Southeast Asia, Australia, Europe and eventually the US through smart partnerships with local marketing operators.
Fauzy was speaking to reporters after the launch of the Mofaz Fortec racing team and signing of a marketing pact with China's Dongguan Qiaoyu Trading Co Ltd in Kuala Lumpur yesterday.
Mofaz group international marketing director Johari Ismail said Dongguan had targeted a Macho sales turnover of some RM150 million in the first year, before rising to RM600 million in the third year.
"The Mofaz Fortec team is an excellent high image branding which matches Dongguan's ability to reach 1.3 billion consumers in China through its existing 3,000 retail and direct consuming outlets," Johari said.
Dongguan is the trading arm of Cheng Yuan property investment group and has assets worth over five billion yuan.
Besides Macho, Dongguan will also help sell Mofaz's Diva and La Femina health drinks.
Meanwhile, Fauzy said the group was able to be profitable last year but he expects tougher times this year.
Mofaz has vast business interests including car dealership and importation and motorcycle assembly and distribution, besides services and trading of fast moving consumer goods.
"We had done very well in the first two quarters of last year, before things got more difficult in the subsequent months. This helps us to remain in the black in 2008," he said.
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