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1.0 EXECUTIVE SUMMARY
HeaVCO is a company that contain by 4 main managers and the leader is CEO.
The other mangers are operation manage6r, marketing manager and financial
manager. The strength and successful of the organization is depend on the
manager to manage the business. Our organization has a motive and objective to
achieve our target.
The company‘s business philosophy is to develop and commercialize coconut-
based products, while at the same time empowering local communities through
integrating local communities‘ business activities into the company‘s processes.
Our company produces and sells products such as virgin coconut oil. The
company started the business with one product: virgin coconut oil, which is a
popular food supplement product. Virgin coconut oil (VCO) is the newest, high-
value coconut product very much sought after for its human, nutraceutical benefits
and as a functional food. World demand for VCO is rapidly increasing. VCO
production, which at present is mostly done at household, micro- or village-scale
levels, is rising rapidly and has excellent potential for improving coconut farm
incomes by five to eight-folds over traditional copra production or sale of fresh
nuts. Asian Pacific Coconut Community (APCC) and member countries are
strongly promoting VCO for health and improving livlihoods of smallholder
coconut processors. However, one major concern is that unless VCO is produced
correctly under well-managed, hygienic conditions, the poor quality oil produced
will not meet prescribed standards, and may not be suitable for human
consumption.
The fast developing niche and high value markets for VCO as a food
supplement, as a body moisturiser and carrier oil for aromatherapy, as a hair
conditioner and as other applications, is generating a great deal of interest among
coconut farmers and landowners, businessmen and entrepreneurs. The attraction is
in the different processes for producing VCO with the goal being a possible
source for improving livelihoods and incomes.
In terms in this business plan, our company will provide a production on VCO
by industrial scale bit for the starter, we will do it by homemade. This is the
starting point to promote our product to the consumer or customer and established
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a trust on them. This is also a starting point to gain their attraction towards our
product.
Basically, VCO is defined as Oil obtained from the fresh, mature kernel (meat)
of the coconut by mechanical or natural means, with or without the use of heat,
without undergoing chemical refining, bleaching or de-odourising, and which
does not lead to the alteration of the nature of the oil. Virgin coconut oil is suitable
for human consumption without the need for further processing. It has a fresh
coconut aroma that can be mild to intense depending on the oil extraction process
used.
2.0 COMPANY PROFILE
2.1. Company Profile
Basic Information
Company Name: HeaVCO
Business Type: Partnership
Product/Service: Virgin coconut oil (VCO)
Address: 33, Jalan Mutuara Emas 7/6, Taman Mount Austin,
81100, Johor Bahru, Johor, Malaysia.
Ownership & Capital
Year Established: August 2012
Ownership Type: Private Limited
Trade & Market
Main Markets: Penang, Johor, Selangor, Kuala Lumpur
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2.2. Company Description
Logo
Motto
Leap Towards The Healthy Wealth
2.2.1.1. Objective
HeaVCO is produced to meet the demand of the market. The objectives are:
To get a maximum profit from time to time.
To increase the customer.
To create job opportunities to people who is unemployed.
Follows the campaign of government to the “Healthy Life”.
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2.2.1.2. Mission
Our mission is to manufacture the finest virgin coconut oil and associated
products available on the market today.
We intend to do this operating with honesty and integrity.
We would hope that we can share our success with people who are a lot less
fortunate than ourselves. We will always pay coconut farmers a fair price for their
coconuts and we will always pay our employees a fair days pay for a fair days
work.
We will never compromise the quality of our oil to increase the yield. Virgin
Coconut Oil is a totally natural product, made using the finest organic coconuts.
Nothing will convince us to alter our production methods.
2.2.1.3. Vision
We expect, over the next few years, to see virgin coconut oil recognised for the
numerous health benefits it offers, this is happening, but it is happening slowly.
We aim to make Virgin Coconut Oil, the premier VCO brand in the world.
We aim to ship our oil to as many countries as possible. This amazing oil, with so
many benefits, should be available in stores all over the world.
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3.0 MANAGEMENT PLAN
3.1. Management Team and Responsibilities
POSITION TASK AND RESPONSIBILITIES
Chief Executive Officer
The decision maker of this company
Serves as a peacemaker if disputes arises between the
members
Generate networks with the UMK authorities as well as
other non-profit organisation related to the main aim of
our business
Manages all the human resources
Human Resource
Manager
Manages all the administrative works
Distributes the profit amongst the shareholders
Marketing Manager Decides the proper marketing strategies for the company
Determine the pricing of the product according to the
demands and needs of the market and keep track on the
latest findings regarding of the business
Production Manager Supervise all field related activities
Manages the one stop centre in and out
Financial Manager Control and balancing company‘s account.
Make sure the budget and influence of money is clear.
Help finance manager in company‘s budgeting.
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3.2. Organization Chart
4.0 PRODUCT DESCRIPTION
4.1. Product definition
The Philippine National Standard for VCO (PNS/BAFPS 22:2004/ ICS
67.2000.10) officially defines VCO as:
• Oil obtained from the fresh, mature kernel (meat) of the coconut by
mechanical or natural means, with or without the use of heat, without
undergoing chemical refining, bleaching or de-odourising, and which does not
lead to the alteration of the nature of the oil. Virgin coconut oil is suitable for
human consumption without the need for further processing.
• VCO consists mainly of medium-chain triglycerides, which are resistant to
peroxidation. The saturated fatty acids in VCO are distinct from animal fats,
the latter consisting mainly of long-chain saturated fatty acids.
• VCO is the purest form of coconut oil, essentially water clear or colourless. It
contains natural Vitamin E and has not undergone any hydrolytic and
atmospheric oxidation as demonstrated by its very low, free fatty acid (FFA)
content (even without refining) and low peroxide value. It has a fresh coconut
aroma that can be mild to intense depending on the oil extraction process used.
(Chief Executive Officer)
HARTINA HUSSIN
Human Resource Manager
ATIQAH IZYANNIE
Operation Manager
CHUA HIU CHING
Marketing Manager
MOOI WEI CHEIN
Financial Manager
HO NEE KHING
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• VCO differs greatly from traditionally produced, copra derived coconut oil,
which must undergo chemical refining, bleaching and de-odourisation
processes to make it suitable for human consumption. RBD (refined, bleached
and deodourised) coconut oil made from copra, is yellow in colour, odourless,
tasteless and does not contain natural Vitamin E, since this is removed when
the oil is subjected to high temperature and various chemical processes.
4.2. Product characteristics and uses
The degree of saturation and length of the carbon chain of the fatty acids
comprising a particular fat or oil determines its properties, corresponding uses and its
effects on human health. The more saturated the fat and the longer the chain, the
harder the fat and the higher the melting point (Fife, 2001).
Coconut oil is unique amid fats and oils, as it contains the highest percentage
of medium-chain fatty acids (MCFA) with a carbon-chain length of 8 to 12 carbon
atoms. VCO behaves and metabolises differently in the human body to other saturated
and unsaturated fats or oils. MCFA in coconut oil is about 64%, with lauric fatty acid
(C12) as the highest ranging from 47 to 53% depending on the coconut variety.
For edible purposes, coconut oil is generally used as a frying and cooking oil
because of its excellent resistance to rancidity development. It is also used as a
substitute for expensive butterfat in filled milk, filled cheese and ice cream making
these products cheaper without changing their palatability. When hydrogenated,
coconut oil is used as margarine, shortening and baking fat. Other edible applications
of coconut oil are:
• as a source of fat in infant formulas and baby foods because of its easy
digestibility and absorbability;
• as a spray oil for crackers, cookies and cereals to enhance flavour, increase
shelf-life and impart a glossy appearance;
• As an ingredient in confectionaries such as candy bars, toffee, caramels, etc.
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The Spectrum of Coconut Products states that in food preparations and in diet,
coconut oil performs the following functions.
• It serves as an important source of energy in the diet.
• It supplies specific nutritional requirements.
• It provides a lubricating action in dressings or leavening effect in baked items.
• It acts as carrier and protective agent for fat-soluble vitamins.
• It enhances the flavour of food.
VCO can also be used in all applications where crude, cochin and refined,
bleached, de-odourised (RBD) coconut oils are normally used, and would be a much
better alternative if it could be made available in large volumes at affordable prices.
In the manufacture of oleo chemicals reserved for cosmetic applications, the
use of VCO instead of copra-derived oil will enhance the quality of the final product
because of its hypoallergenic properties. One interesting development to note, is that
VCO is being focused on specific applications distinct from the traditional uses of
coconut oil listed above.
The current emerging major uses of VCO are as:
• a hair and skin conditioner;
• an oil base for various cosmetic and skin care products;
• a carrier oil for aromatherapy and massage oils;
• a nutraceutical and functional food.
Mr. Arthur Bautista of the Splash Research Institute defines nutraceutical as
Natural food components that provide health benefits or reduce the risk of chronic
disease, above and beyond their basic nutritional function.
Simply put, nutraceuticals are substances that not only nourish but also heal. Virgin
coconut oil is considered a nutraceutical because studies have shown the following
facts.
• The medium chain (C8 – C12) fats in coconut oil are similar in structure to the fats
in mother‘s milk that gives babies immunity to disease. There are also similar
beneficial effects in adults, (Kabara, 2000).
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• VCO possesses anti-inflammatory, anti-microbial and antioxidant properties which
work together to protect arteries from atherosclerosis and the human heart from
cardiovascular disease, (Fife, 2004).
• VCO boosts the immune system.
• VCO protects against heart disease by increasing high density lipoprotein (HDL)
that collects the excess or unused cholesterol in the body for excretion by the liver.
• VCO provides protection from infectious diseases not easily cured by known
antibiotics.
VCO is digested easily without the need for bile and goes directly to the liver for
conversion into energy, (Dayrit, 2003).
• VCO stimulates metabolism, boosts energy and prevents deposition of fats thereby
preventing obesity, (Dayrit, 2003).
• VCO improves the nutritional value of food by increasing absorption of vitamins,
minerals and amino acids, (Fife, 2004).
• VCO is the world‘s only natural, low-calorie fat, (Fife, 2004).
• VCO inhibits the action of cancer-forming substances (Clara Lim Syliangco, 1987).
4.3. Identity characteristics
Gas Liquid Chromatography (GLC) range of fatty acids composition of VCO
shall be in accordance with Table 1.
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Table 1: Gas Liquid Chromotagraphy range of fatty acid composition of VCO
Common name Composition (%)
Caproic acid C 6:0 ND – 0.7
Caprylic acid C 8:0 4.6 – 10.0
Capric acid C 10:0 5.0 – 8.0
Lauric acid C 12:0 45.1 and above
Myristic acid C 14:0 16.8 – 21
Palmitic acid C 16:0 7.5 – 10.2
Palmitoleic acid C 16:1 ND*
Stearic acid C 18:0 2.0 – 4.0
Oleic acid C 18:1 5.0 – 10.0
Linoleic acid C 18:2 1.0 – 2.5
Linolenic acid C 18:3
C 24:1
ND – 0.2
ND
* ND= non-detectable
The fatty acid profile of virgin coconut oil is greatly dependent on the coconut variety.
Studies done by the Philippine Coconut Authority (PCA) Zamboanga Research
Centre, revealed that coconut hybrid varieties have a higher lauric fatty acid content
(above 50%) than local tall varieties.
4.4. Colour, odour and taste
Virgin coconut oil shall be colourless, sediment free, with natural fresh coconut aroma
and free from rancid odours or tastes.
4.5. Specifications
Virgin coconut oil shall conform to the requirements specified in the table 2.
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Table 2: Virgin coconut oil property requirements
Properties Specification
Moisture and volatile content 0.20% max.
Free fatty acids (expressed as lauric acid) 0.20% max.
Peroxide value 3.0 meq/kg oil max.
Food additives None permitted
Contaminants
Matter volatile at 105°C
0.20% max.
Heavy metal
Iron (Fe)
Copper (Cu)
Lead (Pb)
Arsenic (As)
mg/kg max.
5.0
0.40
0.10
0.10
In the absence of a laboratory analysis report, the quality of VCO can be assessed
through sensory evaluation by testing the following attributes:
Colour: Virgin coconut oil has a clear water appearance.
Based on the studies done under the Philippines/UK Aflatoxin Reduction in Copra
Project, the colour of the oil is either brought about by contaminants in the oil (as in
tapahan drying of copra), or by high temperature processing and microbial
contamination of the coconut meat prior to oil extraction. Depending on the type of
micro-organisms that cause the contamination, the oil colour can appear yellow or
pink or red-orange.
Aroma: A good quality VCO does not have any rancid smell. It has a sweet coconut
aroma which may range from mild to intense depending on the process used for
extraction.
Taste: A good quality VCO should not have off-flavours or a sour taste. It should not
cause any itchiness in the throat when ingested as this is an indication that the free
fatty acid content is already higher than the prescribed standard.
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Quality assurance in processing VCO
Quality assurance in the context of any industry should be viewed in two ways.
1. Ensure that the product produced by any processor conforms to domestic and
internationally accepted product standards. The market for VCO, whether
local or international, has to be protected and sustained by ensuring that only
VCO of the highest quality is produced.
2. Quality assurance should be strictly implemented to protect the consumer. The
VCO on sale must be of the highest quality since there is no way for a
consumer to check the quality when it is bought in a packaged container. At
present, VCO is generally bought as a food supplement or nutraceutical
because of the increasing quantity of literature indicating its beneficial effect
on human health. In this instance, quality is of paramount importance since the
product is being ingested directly and not as a food ingredient or a cooking
medium.
4.6. VCO Processing
4.6.1.1. Modified Natural Fermentation Method
Fermentation generally means the addition of yeast or enzyme or suitable
micro-organism to a feedstock to obtain a desired product. However, in the case of the
Natural Fermentation Method for producing VCO, no other substance is added. It has
been observed that when a coconut milk mixture is allowed to stand for more than 10
hours under favourable conditions, the oil naturally separates from the water and the
protein.
The mechanism for this natural separation without the addition of any
fermentation agent is unexplained. One theory is that the natural enzyme in coconut
meat, which is subsequently transferred to the coconut milk, is being activated at
some point. Another theory is that airborne lactic acid bacteria, which have the
capability to break the protein bonds, act on the coconut milk causing VCO separation.
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It can be surmised that the term, Natural Fermentation Method, was coined
because the water and the curd that separate out from the oil, smell and taste sour. It is
‗natural‘ because no other substance is added to achieve the fermentation.
Modified Natural Fermentation Method has the lowest labour requirement and
the least energy input. However, if the fermentation process is not properly controlled,
then it produces oil with a sour smell and relatively higher free fatty acid content
nullifying the saving in labour costs as the oil cannot be classed as VCO. Precise
controls for the maturity of coconuts and the ambient conditions for the fermentation
room are necessary to obtain good, high quality oil recovery.
The Modified Natural Fermentation Method comprises two distinct parts –
extraction/preparation of coconut milk and processing of the VCO from the milk.
The Modified Natural Fermentation Method has the lowest labour requirement
with the least energy input of all the methods.
Oil recovery is 20 kg/100 kg fresh coconut meat.
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4.6.1.2. Extraction and preparation
Table 3: Process for the extraction and preparation of coconut milk (Source: Revised
excerpt from Bawalan, (2004)
Process Action to take
1) Selecting nuts Select fully matured nuts (12 to 13 months old) and de-husk;
the husk should be turning brown — not green.
2) Splitting and grating
Split the de-husked nut into two and grate the meat either
manually or through the use of motorised grater. Another
method is to manually de-shell the coconut and feed the meat
with testa into a Thai motorised coconut shredder.
3) First milk extraction
Extract the milk from the grated coconut meat either by hand
or by manually operated or motorised coconut milk press.
This can be the hydraulic type, vertical screw or horizontal
screw type press, manually operated or motorised. Set aside
the milk obtained. Prepare the coconut milk residue (sapal)
for second extraction.
4) Second milk
extraction
Do a second milk extraction by mixing water with the sepal
obtained from the first milk extraction using a ratio 2 sapal:1
water. Press the residue again.
5) Mixing of first and
second milk extracts
Mix thoroughly the first and second milk extracts by stirring
vigorously for about 10 minutes.
4.6.1.3. Processing of VCO
In the traditional Natural Fermentation Method, selling and subsequent
fermentation of coconut milk is done for 36 to 48 hours. However, laboratory
analyses of VCO produced using this process, show that the free fatty acid (FFA)
content (33% to 38%) greatly exceeds the prescribed standard of maximum 0.1%.
Likewise, in many cases, coconut oil produced will be pale yellow in colour and will
not meet the VCO standard.
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Table 4: The Modified Natural Fermentation Method of processing coconut milk to
produce VCO
Process Action
1) Settling of the coconut milk
mixtures
Allow the coconut milk mixture to stand for 16 – 24 hours in
a place where the temperature can be maintained at 35 –
40°C.
Note 1: If the intention is to recover coco skim milk for
further use as a beverage, then two-stage settling has to be
carried out (the first stage settling is done in the refrigerator
or ice box for 3 hours. After separating the cream from coco
skim milk, the cream is again allowed to settle (second stage
settling at 35– 40°C for 13 – 21 hours.
2) Separation of the oil and
fermented curd layers
Separate the oil from the fermented curd by using a ladle to
scoop the oil off the top.
Note 2: Dispose of the water phase (fermented skim milk)
and gummy portions by diluting with water before draining
into grease trap and then into the sewage system or soakage
pit. Put the fermented curd and the oil in separate containers.
3) Oil drying Drying is required to ensure that all residual moisture is
removed to prolong the shelf-life of the VCO.
Note 3: Apart from removing the residual oil, heating the
VCO in a double boiler or vacuum dryer will ensure that
fermentation will be stopped. It will also remove the faint
sour smell in the oil.
Note 4: If the oil is subjected to incubation (air-drying) or
vacuum drying, then it needs to be filtered first (Step 4).
4) Filtration of oil Filter the VCO to remove adhering particles of fermented
curd.
Note 5: Filtration of the VCO produced from the Modified
Natural Fermentation Method does not require special
filtration equipment as only relatively large particles of curd
near the surface of the oil need to be separated. Any filtering
medium that can trap the curd will be appropriate.
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Note 6: One practical and simple way of filtering the oil is
by pouring the oil over sterilized cotton wool placed in the
hole of a big funnel, and allowing it to trickle down. For a
large-scale operation, a fabricated pressure filter with filter
cloth is recommended to increase filtration rate.
5) Heating of fermented curd After VCO separation, the fermented curd is heated to
recover the residual Class B oil that can be used for making
skin care products and herbal soaps. The temperatures are
not as strictly controlled but should not exceed 90°C or the
oil will become dark yellow.
Note 7: After the Class B oil is recovered, the toasted curd
can be mixed with other compost material and use as organic
fertiliser.
Note 8: The Class B oil recovered by heating should be dried
in a double boiler. Do NOT MIX with the Class A VCO.
6) Packaging and storage VCO may be stored in stainless steel containers and poly-
lined drums. Pour oil into very dry bottles for marketing.
Note 9: The recommended packaging material for virgin
coconut oil (VCO) is glass. PET bottles (plastic bottles
normally used for mineral water) can be used in cases where
the VCO is immediately consumed. Glass is recommended if
the VCO is sold in stores where it may remain on the shelf
for several weeks.
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4.7. HAZARD ANALYSIS WORKSHEET
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4.9. Critical Control Points in processing VCO
Common processing Critical Control Points
To ensure that only high quality VCO will be produced, the following Critical Control
measures should be applied in all of the processes discussed in this VCO manual.
Critical Control Points for individual processes are given later in manual.
1. Receipt and inspection of nuts
All de-husked nuts are inspected to segregate and
reject immature, germinated or spoiled nuts when
delivered to the plant. Only fully mature nuts, 12 to 13
months old, should be used for VCO production. As an
indicator of maturity of the nut, the husk and shell is
brown in colour and the nut makes a sloshing sound
when shaken.
Always ensure that the nut, while fully mature,
does not have a haustorium (Figure 5) because the oil
content of the kernel starts to decline once the haustorium
is formed and the quality deteriorates as the haustorium
grows bigger.
Proper procedures must be adopted so that nuts do
not break while unloading. Likewise, exposure to
sunlight of the dehusked nuts during delivery, weighing
and unloading should be avoided to prevent cracking of
the shell that will cause spoilage. Nuts will crack and
begin to decay after one hour in the sun.
Figure 1: De-husked
coconuts with
haustoriums; these are
not suitable for VCO
processing
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Storage
De-husked nuts should be kept in clean storage areas with cement floors, good
ventilation and adequate rain/sun cover.
Avoid sun exposure of the de-husked nuts. Storage bins should be designed
and partitioned so that the principle of first-in first-out can be easily implemented.
The pile of de-husked nuts should not be placed directly on the cement floor but on an
elevated platform (pallet) with slats so that the coconut water can flow away if
breakages occur. Maximum height for the storage pile of fresh nuts should not exceed
1.8 metres.
De-husked, fresh coconuts should be processed within seven days from the
time of harvest. Therefore the VCO processing facility should be placed within the
coconut producing areas to ensure freshness of raw material and to lower transport
costs of the nuts.
2. Handling of coconut water
Coconut water spoils and ferments very rapidly once the nut is opened. When the nut
is split, coconut water should be collected in a container and properly disposed of in
one of two ways. As another source of income it can be converted into vinegar — or
other products including nata de coco and electrolyte drinks, or diluted with water and
flushed into soakage pits or the sewage system.
Coconut water should not be left on the floor as it will attract flies and become a
source of contamination. Undiluted coconut water becomes very acidic and will
destroy the cement surface of the floor if it is not tiled. It also generates a foul smell
once fermentation has started.
3. Drying and handling of VCO
Water in oil causes it to go rancid thus shortening its shelf life. To ensure the VCO
will have a long shelf-life, it should be subjected to an oil-drying process after
recovery from coconut milk or extraction from dry grated or granulated coconut meat.
Removal of residual moisture is critical in the VCO produced from the Modified
Kitchen Method and the Modified Natural Fermentation Method. Because both are
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wet extraction processes, that is, recovery is from meat with intermediate moisture
content, the end product will contain more moisture than with high pressure expelling.
Drying of the oil can be achieved using one of the following methods.
Figure 2: Drying and handling VCO
a) Preparing VCO samples from expeller oil for quality checking
• Place the extracted oil in a double boiler and heat for about fifteen minutes or until
the oil has changed from turbid to water-clear colour. Oil temperature should not
exceed 65°C.
• Incubate or air-heat the oil in the container at 50°C for 12 hours or until the oil has
changed from turbid to water-clear colour.
• Vacuum dry using a commercial vacuum dryer at 50°C.
Vacuum drying is the most effective way of drying oil without the risk of the colour
turning yellow but the investment cost is high, so it is not a viable option for micro-
scale processing.
A double boiler can be made by placing a stainless steel mixing bowl or basin in a
larger pan that is half filled with water. Pour the oil into the smaller container. Once
the water in the pan starts to boil, reduce the heat to the lowest possible setting so that
the hot water remains at a simmer point.
Do not allow oil to boil or the container to boil dry!
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Remember! Water is the arch enemy of oil!
Oil drying temperatures should not exceed 65°C or oil will be yellow which is then
classified as Class B oil.
4. Handling of coconut milk
Coconut milk contains protein and other nutrients, is low in acid and has a high
moisture and nutrient content making it very susceptible to microbial contamination
and rapid spoilage. Because of these characteristics, grating or milling of fresh
coconut meat and subsequent extraction of the milk should be done in a clean
environment and under very strict sanitary conditions. The following critical control
measures must be applied at all times:
• Always ensure that grating or scraping of coconut meat and subsequent milk
extraction is done under sanitary conditions by observing good personal hygiene.
Wash hands with soap and water before doing any preparation work; wear the
necessary protective clothing with hair cover. Do not wear jewellery on the hands or
arms.
• Ensure that all materials, utensils or equipment used in extracting and holding
coconut meat and milk are thoroughly cleaned and rinsed with hot water. Utensils
should be free from any soap residues.
• High quality clean water should be used for the diluents or re-hydrating agent for the
second milk extraction. It should be free from microbial contamination and low in
mineral content. Filtered, purified or demineralised water is preferable. Coconut water
can also be used as diluents, but a specific handling procedure must be observed to
avoid microbial contamination. The coconut water must be filtered and immediately
placed in a refrigerator or ice box while waiting for the grating and first milk
extraction to be completed.
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1) Low Pressure Extraction and High Pressure Expeller Critical
Control Points
The low pressure extraction methods and the high pressure expeller methods
belong to the general category of Fresh-dry processing of VCO where the VCO is
obtained by first drying the fresh, grated or comminute coconut meat and then
pressing the dried meat to separate the oil. Hence, in both processes, the most critical
step is the drying of the meat. The following critical control measures must be
observed when preparing the coconut meat for subsequent oil extraction.
• Dry the coconut meat within four hours of opening the nut. Delay in drying will
allow bacterial contamination of the fresh meat and will result in an unacceptable
yellow oil.
• Dry the grated or granulated coconut meat at a temperature of 70 to 75°C using an
indirect, hot-air dryer, either steam heated or biomass fired. If the drying temperature
is too low, bacterial contamination will occur resulting in unacceptable yellow oil. On
the other hand, if the drying temperature is too high, the grated meat will burn, also
resulting in yellow oil.
Under conditions of low humidity and clear, hot days, the grated meat can be solar
dried. A well-designed solar dryer can normally generate a drying temperature of
about 70°C that is sufficient for the intended purpose. However, additional heat may
be needed to ensure this temperature is reached on cloudy, rainy days. Open sun-
drying is not recommended as grated meat can become contaminated with dust and
insects and temperatures are too low to prevent bacterial breakdown of the meat.
• If using a direct contact dryer similar to the one being used in the South Pacific for
the Direct Micro Expelling (DME) process, constant attention and turning of the
grated meat is required to prevent it from becoming scorched or burnt, which will
result in an unacceptable yellow oil. Dry with care and maintain good hygiene
handling.
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5.0 COMPETITOR ANALYSIS
The main competitors are come from competitors that produce same or likely
product and market their product at the same place. The main competitors come of
our business of course from farmers that practice same or likely method that we use
that is chemical free and market their product near or on same place we have for
example of our business. This is one competitor which running the same business
with us:
Table 5: Competitor Analysis
Company Strength Weakness
Joyce Chua Established over 10 years
Good reputation in society
Innovation of product
Carry out HACCP during
the production
Unable to fulfil the
demand from society
Aaron Yen Carry out HACCP during
the production
Export VCO to foreign
country
Limited production
capacity
Unable to fulfill the
demand from local society
Luen Yen Yee Carry out HACCP during
the production
New established in society
No HACCP
Small business
Low income
Others Have a regular customers
Lower price compared to
others
Micro business
No promotion
Low production capacity
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5.1. Market Share
Market share refers to the portion of the market that the business can control
after taking into consideration market size and the competitors position in the
same market. Market share also refers to percentage of the total market size.
Table 6: Market share before the entry of HeaVCO
Company Market share, %
Joyce Chua (WT SUMBER BUMI SDN BHD) 33
Aaron Lim (Adirondack (M) Sdn. Bhd) 26
Luen Yen Yee (PRESTIGE POOLS
CONSTRUCTION SDN BHD)
22
Others 19
- Total = 100
Table 6: Market share after the entry of HeaVCO
Company Market Share, %
Joyce Chua (WT SUMBER BUMI SDN BHD) 26
Aaron Lim (Adirondack (M) Sdn. Bhd.) 20
Luen Yen Yee (PRESTIGE POOLS
CONSTRUCTION SDN BHD)
18
HeaVCO 28
Others 8
- Total = 100
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Figure 2: The market share before the entry of HeaVCO
Figure 3: Market share after the entry of HeaVCO
33%
26%
22%
19%
Sales (%)
Joyce Chua (WT SUMBER
BUMI SDN BHD) 33%
Aaron Lim (Adirondack
(M) Sdn. Bhd.) 26%
Luen Yen Yee (PRESTIGE
POOLS CONSTRUCTION
SDN BHD) 22%
Others
26%
20%
18%
28%
8%
Sales (%) Joyce Chua (WT SUMBER
BUMI SDN BHD) 26%
Aaron Lim (Adirondack
(M) Sdn. Bhd.) 20%
Luen Yen Yee (PRESTIGE
POOLS CONSTRUCTION
SDN BHD) 18%
HeaVCO 28%
Others 8%
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6.0 MARKETING PLAN
6.1. Marketing summary
Marketing is one of the most important element is forming a business. Without
proper marketing plan, a business will never achieve their goals.
The main objective of marketing plan is to satisfy customer‘s wants and needs
through creating and exchanging products and value with others as well as
contributing towards profit for the business. For that purpose, the partners had made a
research to identify the demand of the people.
In consumer needs and wants, there are some factors that make Virgin coconut
oil become a demand for customers. The factor that influences the customers to buy
the product is because giving healthiness for everyone. This is because virgin coconut
oil provide varies of benefit such as Lowers cholesterol and blood pressure levels,
cancer fighting, natural antibiotic and etc. This means that it make human become
healthy and prevent human for causing obesity and have a strong immune system.
For the marketing plan conclusion, the most important thing that influence our
strategies in winning the customers heart and also compete with other company is our
promotion concept that acting more friendly to the customer beside we supplying the
best product for them. Also providing a high quality product will fulfil the customers
need and wants nowadays. When the customers are satisfied and trust our product that
we provide, they will be our fix customers and will buy our product when needs. For
the increasing our sale, we offered confidence work strategies that is also to fulfil the
customer need and want. They are, pricing strategies, distribution strategies and
product strategies that is the main scope in marketing plan. All of the strategies that
being mentioned are important in achieving the marketing objective.
6.2. Marketing Objectives
Generate a 5-10% yearly increase in sales.
Increase market penetration every year
To conquer and dominate in local market
Expand the business and open more outlets in Malaysia
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6.3. Marketing concept
Our marketing concept is production orientation. The focus of the business is not
only the needs of the customer, but also reducing costs by mass production. Therefore,
we have sell with lower price and can compete with others.
6.4. Marketing strategy
6.4.1.1. Target market
Our target market mainly focus in housewife and company who used virgin
coconut oil to produce shampoos, conditioners, moisturizers, health supplements,
massage oils. Although coconut oil can modified and use in others way but we will
focus it as cooking oil and our target is housewife.
Table 7: Target Market Analysis
Target Market(s) Percentage (%)
Moderate and high income 45%
Retailer 30%
High education 15%
Others 10%
6.5. Market segmentation
6.5.1.1. Geographic Segmentation
We will act as supplier and wholesaler. Our product will sales in varies mini
market and hypermarket such as Giant and Tesco. The entire place we sell is the hot
spot place since we are still new company cannot just simply send our product to vary
place. At the early stage, we will focus in hot spot to make our company name
become familiar first. So we will focus on the area that people will go everyday to
buy daily need product.
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6.5.1.2. Demographic segmentation
In market segmentation, that is demographic aspect; our main target is for the
moderate and high income. We also focused on high educated person. The reason
why we focused on this group is because they can think wisely before buying a
product. Not only high educated people, we also focus our product as raw material for
big company to produce shampoos, conditioners, moisturizers, health supplements,
massage oils.
6.6. Marketing Mix
As we new business, we must give full concentration in marketing strategies
and efficient, systematic administration and management must be done. Our
marketing strategies consist of 6P‘s indicate for aspect:
1) Product or service strategy
2) Price strategy
3) Distribution strategy
4) Process strategy
5) People strategy
6) Physical environment
1) Product or Services Strategy
Our business focuses on marketing strategy in the market aspect. The purpose
of this marketing strategy is to fulfil needs and wants and make them satisfy with it.
The product strategies are as follow:
Quality
Due proper sales technique, complete and high quality of product is very
importance to avoid the product from the defect during store delivery process. We
also will make sure the concentration of the virgin coconut oil is 100% without
adding others oil. HACCP analysis and CCP will be focus on to produce high
quality product. We also will apply HALAL certificate to convince muslim.
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Packaging
For packaging aspect, we have focus on 100% closed of the cap. This can
make sure our product do not change or spoiled because of the leaking. The design of
our product is unique, clean and clear to looking on. The benefit of the product will
mention clearly to attract the customer. The attractive design packaging will convince
the customer to try on our product.
2) Price strategy
The price strategies is main target is to achieve our business objectives or
goals. The price of the virgin coconut oil will be provided with a similar and suitable
price according to the cost of production. We offered the high quality of product and
cheapest compared competitor. It is to attract more customers and get them to trust
our business. This is because we produce high volume of product. This allows us can
put a low price compare to competitor. This is penetration strategy. To determine the
price, we consider all cost involve in production. We need to make sure our business
is able to get return from sales, first we compared with competitor price in the market
to make sure our product price is not too cheap or expensive and then we analyze
what is the price that the customer willing to pay.
3) Process strategy
For the process strategy we are using pilot plant scale because we don‘t have
enough models. By using pilot plant scale we can produce enough production for
sales.
4) Place or Distribution Strategy
Our product located in varies mini market and hypermarket such as Giant,
Tesco. For the companies that want to buy the product with us can buy contact us.
They can buy from our company. If the quantities that buy from them are higher, we
will provide delivery service. For the mini market and hyper market we will send to
their place.
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Distribution Strategies
Distribution strategy is aimed at establishing a structured and controllable
distribution system to ensure the product offered reached the target customer. A
distribution channel moves goods from producers to consumers. The most common
form of distribution is:
1) Manufacturer Customers
Customer can get lower price if they buy VCO direct from manufacturer
compared they buy at hypermarket because the retailer will eat up mark up to
make profit. So, the price will be higher
2) Manufacturer Retailer Customer
5) People strategy
We provide a hotline to allow customer to call when they face a problem after
consuming our product. All the workers are well training. We will not allow worker
who do not train before accept a phone called.
6) Physical environment
The product that we product have a good looking and the design is a modern
style. The oil that produces will be clear and the customer can see it clearly.
6.7. Promotion Strategy
Promotion is important in order to get the product well known by public.
Good promotion strategies will attract people to buy our product and it will increase
our sales. We will organize many promotion methods in introducing our product to
the customer and in local market. The promotion that will be done by us is like:-
1) Advertisement
Advertisement is a very important way to promote our product. We need to
promote our product in news paper, magazine and internet. Nowadays internet
already becomes a very important pathway to provide information to customer.
We can record a video to promote our company.
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2) Sign Board
This method is very important to make people know about our product. Sign
board will be put near the Hot spot in the city or in highway. It makes the
customer familiar with our product.
3) Sponsor for healthy event
This allows customer know our objective and our company roles. We are the
company who enhance healthy life-style. This can increase company reputation.
4) Business Card
The business card will be given to the target customer such as the company
that use virgin coconut oil as raw material so that they can easily contact us.
7.0 OPERATION PLAN
Production/Operational plan is defined as the production planning of a product or
service according to the quantity, quality, specification and time specified by the
customer at the lowest cost possible. An operational activity includes:
a. Business inputs
b. Transformation process
c. Output
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Figure 4: The operational Activity
I. Transformation Process
a) Generally the transformation process:
1. Materials (coconut milk)
2. Machinery & equipment (coconut grinder, filter)
3. Technology (grinding, fermentation, packaging)
4. Labor (machine operator, general worker)
Business Inputs
• Labor
• Raw material
• Machinery
• Technology
• Capital
Output
• Product
• Service
Transformation
Process
Controlling
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In the production of VCO, the transformation process is listed as below:
Raw Materials
1. Coconut milk
2. Coconut meat
Machinery and Equipments
1. coconut dehusking
2. coconut grinding
3. coconut milk extracting
4. bottles
b) Efficiency of the Transformation Process
The productivity index (P.I) is used to measure the effectiveness of the
transformation process
Formula: P.I = Output/Input cost
Example:
Sales = RM2, 000/day
Operational cost = RM1, 200/day
P.I = RM2, 000/RM1, 200 = 1.67
P.I index of more than 1 indicates the efficiency of the transformation process.
Technology
1. Grinding
2. Fermenation
3. Packaging
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II. Process Flowchart
It is schematic representation of the production/operation process from
the start until the product or service is sold or delivered. It must show:
The sequence (step by step)
Description of each process/activity
Time (days, hours or minutes)
Figure 5: The process flow of production VCO
c) Material Requirement Planning
So, in the production of VCO, we need atleast 500 of coconuts to be processed
into VCO.
Make coconut milk (use only old coconuts which is in brown color)
Fermented overnight
(the separation occurs naturally during fermentation for 24-48 hours in an enclosed container).
Fermented at room temperature
Final product:
virgin coconut oil floats on the surface
Packaging
Finished product are stored before deliery
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d) Acquisition of Machinery and Equipment
For the production of homemade coconut oil, we need coconut dehusking,
coconut grinding, coconut milk extracting, and bottles for the production of VCO.
There are several factors to be considered before buying machinery & equipment:
Price
Quality in terms durability
Easiness of acquiring spare-parts
Maintenance
Technology & simple to operate
Reputation of the supplier
After sales service
e) Operational Manpower Planning
The function of operational manpower planning is to determine the volume of
production. It also helps in determine the standard time in producing a unit of
product, man productive hours, determine number of workers and the source, and
calculate the cost of direct and indirect labor.
In this context, when the manpower planning is increase, the production of
VCO also increases. The standard time for producing VCO is maximum 2 days in
the room temperature without using any heat treatment. So, for the beginning, we
will do by ourselves which are five of us in order to reduce the labor cost. We will
do the work by shifting in order to gain the high production of VCO.
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Table 8: Manpower Planning in HeaVCO
POSITION NUMBER OF STAFF
Chief Executive Officer 1
Marketing Manager 1
Financial Manager 1
Human Resource Manager 1
Chief Operating Officer 1
Total 5
f) Selecting a Location
There are several factors to be considered:
Distance from source of materials
Supply of labor
Transportation
Distance from target market
Price of the property
Other factors:
Basic infrastructure & facilities
g) Operation Budget
For the operation budget, we will take these few things into considerations
which are:
Cost of machinery and equipment
Direct materials
Direct labor
Prime cost = Direct materials + Direct Labor
operational overheads
Utilities
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The following section will identify the proposed operational plan for ABCO:
I. Location And Premises
We had selected Johor Bahru as our starting point in business operation. JB is
a developed city with the high demand on the health. That is the reason we choose
JB as our first operation business.
II. Legal Environment
There are no current legal obligations for HeaVCO.
III. Personnel
HeaVCO will start with a total of 5 initial members that includes owners and
management team.
IV. General Operating Hours
HeaVCO intends to operate Monday thru Saturday from 8 am to 5 pm. ABCO
will be operational year round.
V. Machinery, equipment
Due to the involvement in making VCO, our company produces VCO as our
product. Therefore, equipment plays a vital role in providing the excellent product
to the customers. Purchasing of equipment require huge amount of capital, which
in turn comes to the payment via instalment annually which ease of progress of
company‘s development in terms of cash flow. So, our company decided to lease
equipment which to overcome the issue of capital insufficiency. For the
production of VCO, we need coconut dehusking, coconut grinding, coconut milk
extracting, and bottles for the production of VCO.
VI. Assets
A unit of van is used which functions as delivery transport to the customer.
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VII. The production process
As with any production process, the operational workflow for the business is
quite uniform and simple to follow. The following is a step by step outline of how
production of VCO has been made:
Step I: Make coconut milk (use only old coconuts which is in brown color)
Step II: Ferment overnight (the separation occurs naturally during fermentation for
24-48 hours in an enclosed container).
Step III: put it into the refrigerator and the virgin coconut oil is ready to use.
The virgin coconut oil floats on the surface. The fermentation of virgin coconut oil
has been done.
VIII. Raw material
The raw materials that had been used in this production of VCO is coconut
whether in coconut milk or coconut meat.
IX. Customer service plans
Our company will provide a customer services plan. This plan is implemented
to those who are take order the VCO with us whether in large quantity or small
quantity. For the higher quantity, we will deliver to their home or company but
depends on the locations. If it is more than 30km from our company, we will
charge the delivery fee upon the product price. If it is not more than 30km, we will
provide free delivery for them. They must purchased atleast 50 bottles of VCO.
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7.8. Service Execution Timeline
Table 9: HeaVCO will follow this service execution model to enter in the oil market.
Task Execution Period
January February March April May June July
Choosing location √
Company
Development
√ √ √ √
Hiring training
and admin staff
√ √
Advertising √ √ √ √
Opening of
HeaVCO
√
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8.0 SWOT ANALYSIS
I. SWOT ANALYSIS
Table 10: SWOT Analysis of HeaVCO
STRENTGHS WEAKNESSES
1. No side effect
2. Healthy
3. Virgin Coconut Oil has long shelf
life
1. Excessive Coconut Oil May
Harm
2. Flavour does not taste good
3. Target moderate and high income
people
OPPORTUNNITIES THREATS
1. Healthy Life Style
2. Low Competitor
3. High Demand In Indian Market
1. New distribution channel (new
competitor)
2. The price of raw material
increase
3. Economy downturn
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a) STRENGTHS
1. No side effect
As we know virgin coconut oil is very safe to use for people all over ages. In
addition this product does not harm people and does not have side effect when use
it.
2. Healthy
Moreover, the virgin coconut oil can treated hair damage and hair loss. It is
one of the earth friendly products and does not contain any chemical during the
production. It improves digestion and nutrient absorption encouraging weight loss.
It also controls killer disease such as diabetes. Finally it is an antioxidant product.
3. Virgin Coconut Oil has long shelf life
Actually, virgin coconut oil has long shelf life compare to other oil. This is
because virgin coconut oil is completely natural and unrefined. The unique texture,
taste and quality of our oil is achieved by using a traditional cold-press process
and by using only mature, organic coconuts. Coconut oil is highly stable and does
not create any Trans fat. Coconut oil contains no cholesterol and provides lauric
acid, which has been shown to boost the immune system.
b) WEAKNESSES
1. Excessive Coconut Oil May Harm
Everything that we take excessive can harm ourselves. For example when
consume too many of coconut oil even though the oil is good to our health it will
give bad impact to our health. It will gain weight and hair loss.
2. Flavour does not taste good
Coconut usually have a smell that is nor bad or nice. But during the
fermentation process, the coconut milk will produce sticky sour smell and the sour
smell will actually attached to the end product. Not strong as during the
fermentation process. So customer will think twice to buy this product.
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3. Target moderate and high income people
Because of the high production price and the raw material is quite expensive,
therefore it cause low income people cannot afford. For the high educated people ,
they will concern in healthy product . This cause out market become small
compare to others product.
c) OPPORTUNITIES
1. Healthy life style
Nowadays, people are more concern about a healthy life style. Even though
there is a lot of healthy product out there, they still want our product to maintain
their health condition. This is due to what we offer the benefit of our product.
2. Low competitor
In the market, there are low competitors in the production of virgin coconut oil.
This is because the product come from bio-product sources and not many people
know how to produces product from bio-materials.
3. High demand in Indian market
Usually in daily life, Indian love to use virgin coconut oil. For example, they
applied it to hair and skin. Due to high demand of this product, our company has
high potential to produce more virgin coconut oil.
d) THREATS
1. New distribution channel (new competitor)
When the product is known for the benefit and the business is profitable, many
new competitors will appear and take advantage of this opportunity. As the
premier entrepreneur in this sector, we have to maintain our quality of the product
so that our customer still trusts in our product.
2. The price of raw material increase
For the price, our company sold the product still cheap and we do not have to
worry for the other opponent. Nowadays, the price of raw materials is increase but
we cannot simply increase the price of our virgin coconut oil due to competitor. In
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that case, financial manager has to find the solution on how to solve the price of
the product such as search for new supplier.
3. Economy downturn
Economic downturn will cause lower expenditures by consumers, lower
demand for products and services, lower productions and job cuts. Lower cash
flows and limited financing are the major challenges faced by our company.
9.0 FINANCIAL PLAN
9.1. Financial Objectives
Decrease customer acquisition costs by every purchase
Holding spending, as a percentage of sales, at a steady rate.
Achieve positive net worth by years two.
Capture and maintain a gross margin of 10-20%
Our initial capital for this business is RM 300, 000. We estimated our return of
investment is shown as below:
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9.2. Income Statement
Table 11: Income Statement
YEAR 1 2 3 4
Goods of sales 500,000 600,000 750,000 900,000
A. DEVELOPMENT COSTS
1. land rental
120, 000 120, 000 120, 000 120, 000
2. Renovation
6,000 - - -
Sub-total 16,000 - - -
TOTAL A 142, 000 120, 000 120, 000 120, 000
B. OPERATIONAL COST
1. Company maintenance
7,000 7,500 8,000 9,000
2. Staff Salaries & Wages
30, 500 35, 500 38, 500 40, 500
3. Equipment maintenance
1, 000 1, 000 2, 000 2, 000
4.Insurance(company)
1, 500 1, 500 1, 500 1, 500
5. Employees' Welfare
1, 000 1, 000 1, 000 1, 000
6. Taxes & Permits
1, 000 1, 000 1, 000 1, 000
7. Utilities cost
3, 000 3, 000 3, 000 3, 000
8. Advertising fees
2, 500 2, 500 2, 500 2, 500
9. Equipment
150,000 - - -
10. Miscellaneous
500 500 500 500
TOTAL C 198, 000 53, 500 58, 000 61, 000
340, 000
173,500
178,000
181,000 TOTAL OF EXPENSES
INCOMESTATEMENT
291,500 426,500 572,000 719,000
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9.3. Cash flow for 4 years
Table 12: Cash flow for 4 years
2012 2013 2014 2015
Liabities RM 40 000 RM30,000 RM 28,000 RM 19,000
Equity RM 45 000 RM 60 000 RM 72 000 RM 101 000
ToTal asset RM 85,000 RM 90,000 RM 100,000 RM 120,000
9.4. Balance sheet
Table 13: Balance sheet
Current assets
Cash RM 50 000
Account receivable RM 10 000
Inventory RM 25 000
Total current assets RM 85 000
Current liabilities:
Account payable RM 10 000
Total current liabilities RM 10 000
Working capital RM 75 000
Noncurrent assets:
Equipment RM 12 000
Utilities RM 3 000
Plus Noncurrent assets: RM 15 000
Total assets less current liabilities RM 90 000
Net assets RM 90 000
Stockholder equity:
Common stock RM 50 000
Retained earnings(Inventory +
Equipment + Utilities) RM 40 000
Total owners’ equity RM 90 000
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10.0 CONTROL
The purpose of HeaVCO marketing plan is to serve as a guide for the shop.
HeaVCO will seek customer feedback on marketing efforts and may conduct surveys
or focus groups to test ad effectiveness.
The following areas will be monitored to gauge performance:
Revenue-monthly and annual
Expenses- monthly and annual
Customer satisfaction
10.1. Implementation
The implementation that will be done by Fabulocity Pets is through advertising
such as mass media and internet. Besides that, flyers distribution will be done around
Kuala Lumpur area. Enlightenment and awareness programme can be implemented
through advertisement regarding the funding.
10.2. Contingency Planning
Difficulties and risks:
Problems developing a sufficiently large client base.
Significant economic downturns.
Worst case risks include:
Determining that the business can no longer support itself.
Having to liquidate equipment to cover liabilities.
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11.0 CONCLUSION
Today a trend has the high demand for Virgin Oil. That is the main reason
we developed our HeaVCO Company in order to meet the demand the market. We
have management capability, industry attractiveness, and competitive advantages.
As a result, this is the best business opportunity which compliance with our motto,
―Wealth to Health‖. From the research, Virgin Coconut Oil has been reported to
help many skin problems as well and it has many benefits. Last but not least, more
improvements, invention and research should be done in order to improve the
quality of virgin coconut oil and fully utilize the natural resource. We have
focused on cost-based strategy. This business plan has been developed in order to
create a healthy lifestyle. In a nutshell, HeaVCO Company is the best producer in
producing pure virgin coconut oil.
12.0 REFERENCES
1. http://tropicsbest.com/virgin-coconut-oil-centrifuge-process
2. http://www.mixph.com/2008/08/production-process-of-coconut-flour-and-
virgin-coconut-oil.html
3. http://www.bizplancorner.com/samples/health-club-business-plan.pdf
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13.0 APPENDICES
1. Guideline and Control for making VCO
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2) Packaging Material
3) Business Card
Leap Toward Healthy Wealth
www.heavco.com Jenn Chua Tel: +607-89010423
Fax: +607-89010422
250mI
Manufacturing by:
HeaVCO MANUFACTURING
SDN. BHD (183510V)
33, Jalan Mutuara Emas 7/6,
Taman Mount Austin,
84000 Muar, Johor, Malysia.
Tel: +607-89010423
Fax: +607-89010422
Contents:
100% Pure Virgin Coconut Oil
Product of Malaysia
HeaVCO