Hong Kong, Feb 27, 2009 AEST (ABN Newswire) - China Botanic Development Holdings Ltd (HKG:2349), formerly known as Wah Yuen Holdings Limited, is a famous household brand name for consumer food products in Asia. In the midst of financial crisis, the company sales revenue rise from HKD $128 million (financial year ending 30 June 2008) to HKD $110 million (financial year ending 30 June 2007), representing a 16% increase. The company secretary Jeff Chui gave his insight to the company success in a phone interview with ABN Newswire.
What is your company strategy and prospect for 2009?
China Botanic continues to offer quality packaged and convenience food products in Hong Kong, the PRC and overseas. With the continuous rise in national income and consumer spending in the PRC, the Group strengthens our distribution channels and enhances our marketing efforts in the food and seabuckthorn business in the PRC. We remain optimistic about our business outlook and believe our core business will obtain a better result during the whole year.
What is your view on the global economy and its impact to the company?
The lingering financial crisis has dampened the market confidence especially in US, Europe and Japan. With our great concentration of our markets in the PRC and Hong Kong, our business is less affected by the global gloomy atmosphere. We believe our food and seabuckthorn business will grow steady in terms of both turnover and profitability in 2009.
Can you give our readers a bit more information on the management of your company?
Mr. But Ka Wai is the Chairman and an executive Director. He is responsible for the overall strategic development and formulation of corporate policies of the Group. He is presently a standing member of the committee of the Huadu District Chinese People's Political Consultative Conference. He was also named as an honorary citizen of Huadu District, Guangzhou, Guangdong Province, the PRC, by the local authority in 1998 for his contribution to the Huadu District.
Mr. Chui Wing Fai is the Company Secretary of the Group. He holds a master degree of Business Administration from the University of South Australia. Mr. Chui is an associate member of the Hong Kong Institute of Certified Public Accountants. He has over 15 years of experience in auditing and accounting in an international accounting firm and a blue chip listed company in Hong Kong.
Contact
Investor Relations
Mr. Desmond Lai / Ms. Kepy Lee
Administrative Department
Tel.: +852-2692-2221
Fax: +852-2691-0971
E-mail: wyfoods@wahyuenfoods.com
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