IFBH Limited Issues Official Rebuttal to Allegations on Coconut Water Product Quality

Key Points

• IFBH Limited, a Singapore-incorporated company listed on the Hong Kong Stock Exchange (Stock Code: 6603), issued a voluntary announcement addressing recent media allegations concerning its flagship product, “if brand’s 100% coconut water”.
• The allegations claim that the product contains added exogenous sugar and water, contradicting the brand’s advertised promise of purity and naturalness.
• The Company’s Board categorically refutes these allegations, calling them false and misleading.

Details of the Announcement

The Board of Directors of IFBH Limited has become aware of recent media coverage alleging that “if brand’s 100% coconut water” contains added exogenous sugar and water. According to the company, these allegations are not only inaccurate, but also potentially damaging to its reputation and consumer trust.

Product Integrity and Production Standards:

• Since its launch, the coconut water product has consistently adhered to a strict “natural and pure” product concept.
• IFBH Limited confirms that no exogenous sugar, water, or artificial flavors have ever been added during the manufacturing process. All sugars found in the product are naturally occurring from the coconuts used.

Quality Assurance and Scientific Validation:

• The Group engages qualified professionals and internationally recognized testing institutions to conduct annual comprehensive product testing.
• Eurofins, a world-renowned scientific testing institution, has previously performed detailed scientific tests on the product.
• The product holds ingredient certification from the Food and Drug Administration of Thailand, confirming its compliance with food safety and purity standards.
• Additional scientific verification methods were used, including industrial sugar marker analysis, carbon isotope ratio detection, and sugar composition and ratio verification. The results of all these tests meet the highest industry standards.

Ongoing Commitment:

• IFBH Limited reiterates its dedication to product quality and consumer trust, pledging to continue compliance with international food production and quality standards.
• The company has published a detailed statement titled “Official Statement on No Exogenous Sugar Added to IF Coconut Water” on its website (www.iffamily.com) for further information.

Implications for Shareholders and Potential Investors

Potential Price Sensitivity:

• The allegations, if believed by the market, could have led to a loss of consumer confidence and potentially a decline in sales and share price.
• However, the Company’s strong rebuttal, backed by scientific evidence and international certifications, is likely to mitigate reputational risk, restore consumer trust, and stabilize share value.
• IFBH Limited’s proactive approach in addressing the controversy demonstrates management’s commitment to transparency and quality, which may reassure shareholders and investors.

Shareholders and potential investors are advised to exercise caution when dealing in the Company’s securities. The board’s swift response and public clarification may be seen as a positive move to preserve brand value and investor confidence.

Board Composition

• Executive Director & CEO: Mr. Pongsakorn Pongsak
• Executive Directors: Ms. Metaphon Pornanektana, Ms. Vipada Kanchanasorn
• Non-Executive Director: Mr. Tawat Kitkungvan
• Independent Non-Executive Directors: Mr. Thavee Thaveesangsakulthai, Ms. Songvilai Jiraphothong, Ms. Pathamakorn Buranasin, Ms. Supansa Kusonpattana Piriyaporn

Conclusion

The Company’s official clarification and supporting scientific evidence serve to reinforce investor confidence amid unfounded media allegations. The situation remains potentially price sensitive, and the Company’s transparency may positively impact its share price by counteracting negative market sentiment.

Disclaimer: The information provided herein is for informational purposes only and does not constitute investment advice. Investors should conduct their own due diligence and seek professional advice before making any investment decisions. The author and publisher assume no liability for any losses incurred in connection with this report.

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