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Table of content
Page 1.0 Chapter1: Introduction and Company Profile -------------------------------------------------------2 1.1 Vision and Mission of Old Town -------------------------------------------------------------3 1.2 Social Responsibility ---------------------------------------------------------------------------4 2.0 Chapter 2: Internal and External Analysis ------------------------------------------------------------5 2.1 Internal Factor -----------------------------------------------------------------------------------5 2.2 External Factors ---------------------------------------------------------------------------------9 2.3 SWOT Analysis --------------------------------------------------------------------------------15 3.0 Chapter 3: Strategic Issues and Recommend Options----------------------------------------------19 4.0 Chapter 4: Conclusion ---------------------------------------------------------------------------------25 5.0 Bibliography --------------------------------------------------------------------------------------------26

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1.0 Chapter1: Introduction and Company Profile

The History Of OLD TOWN the simple and humble beginnings. The first Old Town`s special brew was created in 1958 OLD TOWN, in a small town in Malaysia and we called it Ipoh Town. It all started at a traditional white coffee shop, the owner who maintains a belief in provides the best and unique coffee. Besides, he began serving this unique white coffee to the residents of Ipoh and Old Town, this aromatic white coffee soon gained popularity within the two townships and news of its unique taste spread to other flourishing towns. White coffee and Old Town Kopitiam became recognized as one entity with its creator renowned as a pioneer and entrepreneur. The legacy of white coffee continuous to this day, customers can enjoy the original and unique white coffee in Old Town Caf or purchase it from supermarket.

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1.1 Vision and Mission of Old Town: Goal

To let everyone enjoy every sip of authentic Malaysian Ipoh White Coffee, anytime, anywhere!

Vision & Mission To be Asia Pacifics Leading White Coffee Producer providing high quality products to
customers globally.

To promote our Unique Malaysian Taste-the authentic Ipoh white Coffee and continue
White Coffee Legacy through continuous improvement and innovation that exceeds customer expectations. As a Market leader, we take pride in distinguishing ourselves to be ahead of the pack. By setting precedence, we have made a standard that equals excellence, pushing others brands to do the same. In this vein, we embrace diversity, accept challenges, adopt international standards and good business practices and at the same time, hope to inspire the rest to follow suit. We strive for continuous improvement, incorporate innovations and technology in our commitment to create customer value in our both products and services. Aligned with transparent policies and achievable targets, together with our core values, we are able to move forward as one responsive team and deliver our best. These continuing efforts maintain and reinforce our market leader status and move us forward to become a leading white coffee producer in Asia Pacific (Old Town, no date).

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1.2 Social Responsibility:

Child Care Fund (OCAF)

Established on 14th June 2008 for giving a helping hand to the society Goal: To accommodate 100 children homes Allocate funds to the Old Town Children Care Fund (OCAF) Encouragement to those children who lives in children homes of wellbeing where having directly impacts on them Actively search for approach to help up to those underprivileged children from different children homes around Educate

Earth Care
community to have

environmentally intelligent practices with a variety of green initiatives. Engage in green events and activities to reach out, to share be and educate

community

environmentally

conscious ( Old Town, no date)

Malaysia to have better lives

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2.0 Chapter 2:Internal and External Analysis 2.1 Internal Factors: 4Ps Analysis Product
As what we mentioned in the Introduction and Company Profile, there are two segments of business the Old Town is currently involving, which are Operation of Caf Chain and Manufacturing of Beverages. Thurs, there have wide ranges of the products manufactured and marketed by the Old Town. The products under the Caf Outlets include My White Coffee (11 products such as White Coffee and White Coffee Mocha Freeze), My Drinks (37 products such as Enriched Chocolate and Honey Lemon Juice), My Asian Favorites (34 products such as Curry Mee and NasiLemak) and My All Time Favorites (38 products such as Kaya & Butter Toast and Omega Soft Boiled Eggs). Besides that, there are 6 different types of instant coffee mix manufactured and marketed by Old Town, it includes 3 in 1 Classic White Coffee, 3 in 1 White Milk Tea, White Coffee Can Drink and so on [Old Town White Coffee, 2011]. Furthermore, the continuous innovation is the hallmark of this companys ability to gain customer loyalty and increase same store productivity over time. For instance, the Old Town caf outlets are offering high-speed internet connectivity and dynamically refine its

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menus and product offerings to capitalize on consumer trends. So that the company can continuously improves the customer experience. As we known, the product quality is critical to the success of business. The Old Towns product quality is excellent; it can be proved by the awards and certificates that were acknowledged by several bodies. For example, the company was awarded with the Product Excellence Award in Industry Excellence Award 2010, the Best brands Food and Beverage Kopitiam 2007 by the Brand Laureate and so on [Old Town White Coffee, 2011]. When were talking about the product under the 4Ps, we will also mention about the branding of the product. It provides the company with a key competitive advantage to compete effectively in the F&B industry. It goes without saying; the branding of the Old Town is a very strong and reputable in Malaysia. However, there are more and more companies like PappaRich, George Town entry into this industry, the foods and beverages produced by Old Town is easily replaced by other competitors.

Pricing
According to the Old Town Berhad Corporate Presentation, it mentions that their integrated business model enables them to control majority aspects of the value-added chain hence allowing them to have exceptional pricing power. It is supported by its own centralized food processing centers and a distribution centre for product quality control and hence it reduces the cost and provides customers a much reasonable price [Old Town White Coffee, 2011].

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Not only that, it can help to be more cost effective to compete against other service providers as well as other coffee beverage resellers.

Its pricing and product mix appeal to a wide market vs. premium brands like Starbucks. For example, the price of the product offered by Old Town is higher than the traditional coffee shop, but lower than the Starbucks. It shows that the company differentiated their products and services by higher price, at the same time they also take affordability of customers into consideration, so it makes the products offered at a very reasonable level.

From our very personal observation, we found that Old Town is adopting a Value-Added Pricing strategy that emphasizes on the services and environment.

Place
A way of getting the product to the consumer and/or how easily accessible it is to consumers All the stores of Old Town White Coffee are located at a very high traffic location. High traffic location is a good sign of business volume, whenever there is high traffic it is high business opportunity area. At the same time, Old Town White Coffee is mostly located at very visible locations as well. Visibility is the most prominent criteria for a business to generate extraordinary profit volume. The easiest to be seen or noticed, the higher chances of getting business compared to the less be seen. As we all know, Old Town White Coffee is founded in Malaysia meanwhile it is expanded into foreign market like China in the form of franchisees. This is to gain competitive advantage for Old Town White Coffee in the foreign market.

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Besides, Old Town White Coffee adapts master franchise as its form of franchising. This type of franchising allows company to retain the economies of scale and a large chain meanwhile minimizing the meticulous management of geographically dispersed individual stores. This method of franchising allows company to enter into a distant and cultural dissimilar market.

Other than coffee shop business, it distributes its product such as Old Town White Coffee 3-in-1 blends, Nanyang White Coffee, Simply Pure White Coffee and Ready to drink products through distributor and wholesaler such as supermarket. Again, this provides competitive advantage to the company.

Promotion
First promotion strategy is through advertising, we have noticed that the OldTown White Coffee advertises through various media. Firstly, it is through internet social media such as YouTube, Facebook and OldTown White Coffee official website. Other media that has been used to promote Old Town White Coffee is radio such as MyFM, print media and billboard. Second way of promotion is through public relation. This type of promotion is via certain sponsorship deals, conference, exhibitions, trade fairs and events. Word of mouth is apparently another informal communication about the product by oridinary individuals in which I aware OldTown did have this indirect promotion as well.

2.2 External Factors: i) PEST Analysis

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Political
Government policy- the increment of government tax will somehow affect the revenue of company. For example, GST has been increased from 5% to 6% in the past few years. According to aseansources.com [2004], Malaysian manufacturers are moving towards the adoption of ISO 9000 and Quality Assurance Programmes(QAP). Besides, Malaysian food products can be consumed by Muslim only it certified halal. Malaysia government offering tax incentive to business that implementing Corporate Social Responsibility program(CSR) which the requirement are supporting arts and cultural programs, reduction in greenhouse gas emissions and investing in local communication. Malaysia government doesnt change frequently, in a way that, the political condition in Malaysia is considered stable and it is good for operating business as well as giving positive effect to company. According to Human Resources DatukDr S. Subramaniam, the government hopes to announce the minimum wages before end of the year [asiaone, 2011]. After the announcement, it might affect or increase the burden of company as the labor cost increase.

Economic
According to Malaysian-German Chamber of Commerce & Industry [2010], Malaysian current population is around 27millions and it is growing steadily with an annual rate of about 1.95%. Besides, the standard of living and purchasing power are also steadily increase with it (per capital income exceeds RM19, 739 or US$5,681).
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In 2009, food processing industry accounts for 10% of the country's domestic manufacturing output with a total trade over RM21 billions and exports over RM12 billions to more than 80 countries worldwide [Food Future 2011, 2011].

Recent financial crisis caused by US and Europe countries affect worldwide economy; it might affect customer spending power and give negative impact to the food industry.

When economy is good, people are more afford and willing consume as their personal disposable income increased. Thus, company can get benefit from higher spending power of consumers.

In term of labor forces, company is easier to get labor to work with cheaper cost when economy is bad, because unemployment rate is high during bad economy. On the other hand, company is harder to get labor to work and cost might be higher when economy is good.

As recent exchange rate of Malaysia Ringgit to US Dollar become stronger, the export companies in Malaysia will suffer due to the products they are selling are more expensive. However, import companies can enjoy higher purchasing power of Ringgit.

Social
Standard of living. As the standard of living of people increase, people are willing to spend on high quality of foods and beverage to satisfy their needs. Social stability. There is no war or any catastrophe happened in Malaysia which is very good for operating business. For example, there is no earthquake or tornado happen in Malaysia.

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In term of demographic factor, Malaysia is built up by many races and religion (One Malaysia), such as Malay, Chinese and Indian. Besides, Islam is the largest religion, comprising 61.4% Muslims and they can eat foods only stated halal.

Some cultures and consumer taste are smoothly accepted by each other. For example, most people in Malaysia like to eat NasiLemak regardless you are Malay or Chinese.

Technology
Internet technology allows customers getting information from internet and company enable to make announcement on its website. For example, spreading the news of promotion to potential customers through internet. Internet technology giving company an alternative way to advertise its products rather than only through traditional channels like newspaper, television and radio, in which advertise through internet is cost saving. Due to the advance product and logistic technology, companys production can be more effective, efficient, cost saving and environmentally friendly. Also, products can be delivered to customer faster or even achieve globalization. E-commerce allows customers to purchase products and make payment through online, which make them feel more convenient and time saving. Besides, company can also enjoy from higher sales.

ii)

Porters 5 Forces:

Bargaining Power of Buyers

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According to Porters Five Forces Model, an industry is less attractive if the bargaining power of buyers is strong. Firms in the industry also will be limited in how high they able to set the prices. In food and beverage industry, the product that provided actually is undifferentiated. For example, NasiLemak provided in Old Town Caf is actually same as other caf which has not big difference in the food. Buyers switching costs are low also. Customers can easily switch to the caf that able to provide what they need without incurring any costs. There are many caf in food and beverage industry which causes customers have many option to choose which caf to go. Customers also can get the information about the hygiene, taste of foods, services and others through internet easily. Customers will eliminate those cafes that provide poor services.

Bargaining Power of Suppliers

Bargaining power of suppliers refers to the degree of supplier in an industry have the power to decide the prices, quality of products and other terms and conditions. If bargaining power of suppliers is strong, buyers may pay higher price for finished goods or raw materials. In food and beverage industry, the supplied products like flour, egg, chickens are important input for cafs but suppliers dont have high bargaining power as cafes owner able to get the raw materials from other suppliers easily. There is also has law and regulation to prevent suppliers earn extravagant profits. The buyers switching costs are low also because the raw materials are largely undifferentiated.

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Threat of Entry
There are barriers to entry and barriers to exit in this topic. Barriers to entry make other people difficult to enter the industry while barriers to exit make players already operating inside the industry hard to exit the industry. Barriers to entry in food and beverage industry include: 1) Economics of Scale Firms can enjoy the benefits of economics of scale if they able to produce or buy in a big volume. For example, Old Town has over 100 franchise caf in Malaysia so they able to buy raw materials in a huge volume and receive discounts. 2) Expected retaliation The existing cafs may react negatively or band together to keep out new players in the area. Retaliation can be price cutting or promotion. The barrier to exit may only be the psychological barrier. Founder of the business has strong sentimental attachment to the business. Even the firm is making losses, the founder still not willing to give up the business. An attractive industry is the entry barriers are high and exit barriers are low. So poor performing firms can exit easily and few firms can join the industry.

Threat of Substitutes
Substitutes refer to a different type of product that can replace the original product. There are many substitutes in food and beverage industry. But for certain circumstances there is no

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substitute. For example, people who addicted to coffee and they must drink a cup of coffee every day. They have no substitutes as they are already addicted to coffee.

Competitive Rivalry
The nature of competition in an industry is strongly affected by the other four forces above. The strongest of the four forces, the more intense the competition is. The competition is intense will cause the firms compete away much of the profit and the rivalry between existing firms is high. Balance of competitors is the factor affect the intensity of competitive rivalry. When competitors are roughly equal size, competition may become intense if one competitor suddenly sets out to dominate the others. For example, one of the cafs in the area start doing promotion, the other cafs has been forced to do promotion also in order to get the market shares.

2.3 SWOT Analysis Strengths:

i) Old Town is a leading company in the caf chain industry. The company has been in the Malaysian market since 1999 and has built an excellent brand reputation. Currently there are total of 190 caf outlets operating in Malaysia, Singapore and Indonesia. The company has a stable market share capitalization in Malaysia. ii) The company has manufactured and marketed wide range of products. Its beverages were sold in approximately 5,002 retail outlets nationwide in Malaysia, approximately 730 retail outlets in Singapore and approximately 2,335 retail outlets in Hong Kong. These retail outlets include hypermarkets, supermarkets, minimarkets, Chinese Medical Halls, petrol kiosks and other retail outlets [Old Town White Coffee, 2011].
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iii) Old Town has a large sales and distribution network for our in-house manufactured coffee and other beverages, which will provides them with significant advantages to ensure their products are conveniently accessible to as many consumers as possible. Thurs, it is a key competitive advantage that enables the company to cover wider markets locally and overseas, to provide business growth opportunity. iv) Based on the size of the company, Old Town has enjoy the economies of scale which will enable them to improve profit margins as well as possessing stronger bargaining power to obtain better commercial terms from suppliers including product costs, credit terms, logistics arrangements and others. v) Old Town has an abundance experience in terms of franchise business. It is a key advantage in the expansion of the caf network and minimizing capital expenditures to set up new cafes. vi) In term of promotion, the name itself makes very much sense to Malaysian as most of the Malaysian has the sense of familiarity toward the company name. This can create an effect of word of mouth easily from people to people.

Weaknesses:
i) There are many other providers can provide the substitutions for the products offered by Old Town in the market. ii) The quality of human resource cannot easily controlled by the company due to the wide network. So that, it may affect the quality of service provided by the staff. In addition, most of the staffs who work in Old Town caf outlets are foreign worker, not local people, so it make the customers perceived that it is a foreign worker shop, and the sanitation is concerned by customers as well.
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iii) We found that wherever there is an Old Town White Coffee there will be several competitors such as Papparich. Therefore, in term of location Old Town does not have an outstanding competitive advantage as compared with its competitors.

Opportunities:
i) Malaysia polity is considered stable and there are no wars or severe disasters occur in Malaysia. So, Malaysia providing good opportunity to start up business and company established in Malaysia is safer compared with other countries which occur natural disasters frequently. ii) The CSR program supported by government is offering tax incentive to company which participant on it. Thus, it could be an opportunity for Old Town to get tax incentive by fulfilling requirement at above. iii) The increasing standard of living and the purchasing power of Malaysian can actually predict the growing demand of quality foods in the future, which Old Town can offer its unique white coffee to enhance its brand name and companys image from now. iv) White coffee is a very popular product that gradually accepted and consumed by more and more people especially in China. Therefore, there is a golden opportunity for Old Town to introduce its renowned white coffee to this large market. v) Advanced logistic technology allows Old Town to distribute its coffee to worldwide but not only Malaysia. For example, Old Town is exporting its branded white coffee to 13countries worldwide [Old Town White Coffee, 2011].

vi)

The new technology of packaging design and types are offering simplicity, costreduction and material saving while the benefit of quality, convenience,

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environmentally friendly are maintained. So, Old Town can design its packaging with new advanced technology and increase customer purchasing desires.

vii)

Old Town Group chairman DatukDr Ahmed Tasir Lope Pihie said Old Town restaurants had acquired the halal certificate from Islamic Food and Research Council Asia [the malay mail, 2010]. Thus, it is a great opportunity for Old Town to expand its business to Muslims market.

viii) Old Town is providing Franchising to seek business partner. This is actually a useful
method in expanding business and increase market share. Other examples of using Franchising to expand business are McDonald and KFC.

ix)

The increasing awareness of nutritious and healthy foods is an opportunity for Old Town to design and develop healthy foods to meet health-conscious customers needs. This will be the trend in future and Old Town should focus on quality of foods as well as low fat healthy products.

x)

Strong bargaining power to buyers might be achieved through providing value added services and quality products at competitive prices. By achieving it, customers are loyal in buying and drinking Old Town white coffee due to trusted brand name and they will not simply switch to another brand or substitute products.

Threats:
i) Malaysia labor cost is considered low compared with developed country; therefore it attracted foreigners to set up business here. However, the announcement of minimum wages might increase labor cost and giving negative impact to Old Town.

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ii)

The threat of the occurrence of financial crisis may give negative impact to the whole world and affect trading and service industry in Malaysia. If it happened, people will be pessimistic to future and probably reduce their spending; this will affect Old Towns profit eventually.

iii)

Food price inflation is a major problem to food industry where it will reduce consumers purchasing power and affect companys profit. Thus, national government should find out remedy to reduce food price and keep it on a reasonable level. For example, more research and investment on agriculture sector to increase the supply of foods or set some restrictions on speculating commodity.

iv)

Food industry has low barriers to entry compared with other industry that may need advanced technology or huge startup capital. In a way that there are plenty of competitors in this industry and competition is intense.

v)

Basically, people who are not used to drink Old Town white coffee will simply switch to buy another brand of white coffee if the price increases. Therefore, Old Town bargaining power to buyers is weak and switching costs are low.

vi)

Threat of substitutes is another issue faced by Old Town that other beverages are grabbing its white coffee market share such as Tea and Milo. By boosting healthy lifestyle, the nutritious products may also give negative impact and only people who are used to drink white coffee have less impact on substitute products.

vii)

Competition rivalry is high in food industry as low barrier to entry, weak bargaining to buyer, product undifferentiated, threat of substitutes is high and the competition will be intense. Therefore, if one starts to do certain changes, the rest have to follow

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or it might lose market share. For example, one company introduce a new healthy lunch set to the attract customers and other may have to follow.

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3.0 Chapter 3: Strategic Issues and Recommend Options Strategy Issues:

1. Existing in an intense competitive environment. 2. Quality control problem on its products. 3. The low bargaining power to buyers will leads to the issue of being easily replaced by competitors.

Strategy Priorities: Issue 3: Low Bargaining Power to Buyers. Strategy Options for Issue 3:
1. OldTown can enhance existing products and services quality as well as production process to reinforce market share, invent and launch new product to attract new market segment. Reinforce core product

2. OldTown may launch new promotion and events to attract customer. Everyday most valued

3. OldTown should carefully expand their business to adjacent markets Franchising

4. OldTown has to improve on human capital training system. Incentive scheme

5. Rebranding OldTown image for new segment

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Option 1: Enhance existing products and services quality to reinforce market share as well as launching new product to penetrate into new market segment. Resource: The cost of research and development will be substantially high, for instance time, money, human resource, however it cost very much but product development is an anchor for the company to succeed. (Rating=6) Acceptability: The stakeholder of the company regardless of internal customers or external customers is always welcome the launching new product, initiative in inventing new product is a good sign for a company to being competitive in the industry. (Rating=8) Consistency: To continuously improve on quality of Old Towns products is the first intention of its founder to provide the finest coffee in town. (Rating=8) Effectiveness: In food and beverage industry, what make a company stand out among others is always its foods and services provided. R&D in this area will give company a huge advantage over its bargaining power eventually. (Rating=9) Sustainability: By implementing this strategy, reinforce existing products and develop new market such as providing service like delivery will definitely enhance the company sustainability in the industry. (Rating=3) Evaluation: This strategy is effective to solve the current issue at the time being however products and services in food and beverage will be substituted easily by competitors. (Total rating=34)

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Option 2: Launch new promotions to attract customers, such as everyday most valued. Resources: OldTown having sufficient resource to introduce everyday most valued meals to its customers. (Rating=8) Acceptability: OldTown management and employees might accept this move as the benefit is larger than cost. (Rating=7) Consistency: Companys image and goal will be consistent which is to promote and let everyone enjoy every sip of authentic Malaysia Ipoh White Coffee. (Rating=7) Effectiveness: By adapting everyday most valued, it will attract customers not only just taste the valued meals but they may also order other foods and beverages with normal price. (Rating=8) Sustainability: New promotions will create value to OldTown but it may easily copied by competitors. (Rating=2) Evaluation: Worth considering as the resource is adequate and the result might be effective.(Total Rating=32) Option 3: OldTown should carefully expand their business to adjacent markets. Resources: Old Town has sufficient resources in business expansion, but they should carefully provide the resources (such as Franchise Consultancy, Outlet design and construction, Outlet Set Up, Menu and recipes, Kitchen/ Toast/ Beverage training) to those franchisees who want to buy the OldTown franchising. (Rating=7) Acceptability: Old Town management and shareholders might accept that increase the minimum requirement (such as investable net worth of RM1 million for each outlet with

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strong team to manage outlet) in franchise opportunity will filter out those low quality franchisee candidates, and improve the branding. (Rating=5) Consistency: This strategy is considered as fairly consistent with the company major objective as to maintain its company goods and services quality by expanding the franchise with due diligence. (Rating=6) Effectiveness: Franchising is one of the most effective ways to expand business. (Rating=8) Sustainability: Franchising business has recognized as a sustainable business model by many entrepreneurs and corporations as long as the company can continuous sustainability to preserve their competitiveness while carefully expanding the business to adjacent markets. (Rating=8) Evaluation: This is a considerable strategy if it is done cautiously through franchising and it is deemed to be a sustainable option. (Total rating=34) Option 4: Old Town has to improve on its human capital training system as well as motivate its employees through the implementation of incentive scheme.

Resources:Old Town has the competences to fund the training program, and the
bonus only occupy small amount. (Rating=8)

Acceptability: Some employee may dont want to join the training program.
(Rating=5)

Consistency: It can help Old Town build the image and reputation. (Rating=7) Effectiveness:It may take long time to train the employee, after trained employee
may leave the company. (Rating=4)

Sustainability: It is easy to be copied by other competitors. (Rating=2)

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Evaluation: This option can be considered as a possible component of a broader

package (Total Rating=26) Option 5: Rebranding Old Town image for teenagers market. Resources: Old Town needs a lot of resource to renovate the outlet shop to attract teenagers. It is because Old Town is only for old ages people to go in many people perception. (Rating=3) Acceptability: Old Town management team and stakeholders might consider this option. (Rating=5) Consistency: Companys image will be consisting with other company strategies and objective. Company also enter a new market segment and get new customers base. (Rating=7) Effectiveness: After adapting this option, company will has a new image and it might attract teenagers to consume in Old Town. (Rating=5) Sustainability: It is sustainable if Old Town has the resources to advertise, renovate outlet and rebrand. Other competitors might not have enough resources to copy this strategy. (Rating =5) Evaluation: It is an achievable option and the return is acceptable also. (Total Rating=25)

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RACES Rating
Options 1-R&D 2-Promotions 3-Franchising 4-Training system 5-Rebranding R 6 8 7 8 3 A 8 7 5 5 5 C 8 7 6 7 7 E 9 8 8 4 5 S 3 2 8 2 5 Total Rating 34 32 34 26 25 Option Suitability 68% 64% 68% 52% 50%

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4.0 Chapter 4: Conclusion

After our intensive evaluation and analysis onto the company SWOT analysis, we found out that the first and foremost critical issue of Old Town that need immediate attention will be The low bargaining power to buyers will leads to the issue of being easily replaced by competitors. As we have discerned the core issue, then we come to a conclusion of implementing option 1, 2 and 3 concurrently. The reason behind of this implementation is due to its advantage onto the company overall performance as the options are complementing each other. Meanwhile, these 3 strategic options are not contradicting with each other at all in addressing the issue of Old Town. Let us put it in this way, the very prior issue of Old Town is its low bargaining power to buyers. Therefore, research and development on its products and services will be the kick start of this whole integrated strategy. However, without effective promotion, any new or devised products will be doomed to fail. Moreover, a very careful and thorough examination due diligent is needed on its current as well as coming franchises will be the cornerstone of the whole strategy. Last but not least, we believe that this integrated strategic option will bring Old Town to another new height in the near future.

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5.0Bibliography
BERNAMA (2010), Old Town White Coffee open to Jakim check on halal status [online] accessed on 7 Nov 2011, available at: http://www.mmail.com.my/content/46243old-town-white-coffee-open-jakim-check-halal-status Food Future 2011 (2011), Overview [online] accessed on 6 Nov 2011, available at: http://www.mifb.com.my/2011/foodfuture/ Maybank IB Research (2011), OldTownBerhad[online] accessed on 3 Nov 2011, available at: http://maybank.xinhua08.com/yjbg/201106/P020110630455870976339.pdf Malaysia-German Chamber of Commerce & Industry (2010), Market Watch 2010- The Food Industry [online] accessed on 3 Nov 2011, available at:http://malaysia.ahk.de/fileadmin/ahk_malaysia/Dokumente/Sektorreports/Market_Wat ch_2010/Food_2010__ENG_.pdf OldTown White Coffee (n.d.), Company Profile [online] accessed on 3 Nov 2011, available at: http://www.oldtown.com.my/ OldTown White Coffee (n.d.), Social Responsibility [online] accessed on 3 Nov 2011, available at: http://www.oldtown.com.my/

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