KUALA LUMPUR: Hai-O Enterprise Bhd expects revenue to touch RM200mil in two years from some RM144mil in the year ended Apr 30, 2006, said group managing director Tan Kai Hee.
The company is in the midst of expanding its product range.
Yesterday, it signed a three-year contract with Inner Mongolia Meng Niu Dairy Industry (Group) Co Ltd to become its distributor in Malaysia.
Meng Niu Dairy is the largest milk exporter in China as well as one of the best selling brands in the country.
Hai-O hopes to import about RM5mil worth of products this year and to take hold of 10% of the ultra high temperature (UHT) market in two years. The UHT market in Malaysia was worth RM103mil in 2005, Tan said.
It intends to initially bring in three products and expand the range later. Meng Niu produces more than 100 kinds of dairy goods.
Tan said the group was in the process of applying for halal certification for the brand from regulators and following that, Meng Niu's products would be available in the market.
Eventually, Hai-O hoped to work with Meng Niu Dairy to penetrate the Middle East market, he added. Meng Niu Dairy, which is listed on the Hong Kong stock market, has more than 30 production bases in China.