S&P
S&P Industries is a Malaysian coconut product manufacturer (founded 1983) producing coconut milk, powder, water, beverages, and traditional coconut products under the S&P Santan and Cosip brands for retail, food service, industrial, OEM, and export customers across 40+ countries, and is listed on the HKEX Main Board.
- Company typePublic
- Founded1983
- HeadquartersSelangor, Malaysia
- Headcount101–250
- GTM typeB2B and B2C
- OfferingHardware or Manufacturing
What S&P does
S&P Industries Sdn Bhd is a Malaysian coconut product manufacturer founded in 1983, operating from Petaling Jaya, Selangor, and listed on the Main Board of the Hong Kong Stock Exchange (stock code 1695) through its Cayman Islands-incorporated parent S&P International Holding Limited. The company is Malaysia's first coconut milk powder producer and manufactures a portfolio spanning coconut milk, coconut milk powder, coconut water, coconut milk beverage, desiccated coconut, and traditional products (ketupat and kerisik) under the S&P Santan and Cosip sub-brands, supported by proprietary spray drying and UHT processing technologies with Tetra Pak aseptic packaging. It also operates a biomass boiler and wastewater treatment plant for circular energy use.
The business operates a multi-channel go-to-market model covering retail distribution (Jaya Grocer, EcoShop), food service (restaurants, hotels, caterers via dedicated regional sales teams), industrial/B2B supply, OEM/private label manufacturing, export to over 40 countries through a dedicated export sales team, and e-commerce (Shopee, Lazada). Revenue streams include branded consumer coconut products, OEM/private label contracts, export sales, and industrial-grade bulk supply. Customer segments are diversified across retail consumers, HoReCa, food manufacturers, export distributors, and brand-owner OEM clients. Certifications include FSSC 22000, HACCP, and FSC.
In August 2023, S&P Industries entered a strategic partnership with JWC Coffee to launch the Barista M*lk Alternative, a coconut-based plant-based milk targeting the specialty coffee and food service segment. The company participates regularly in international food exhibitions including SIAL Paris, Gulfood Dubai, FHA Singapore, and Summer Fancy Food Show New York. Annual production capacity is stated at 30,000+ units across 25+ products, with 42+ years of operating history.
S&P firmographics
Firmographics- Name
- S&P
- Legal name
- S&P Industries Sdn Bhd
- Website
- https://spfood.com
- Company type
- Public
- Founded year
- 1983
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- S&P Industries is a Malaysian coconut product manufacturer (founded 1983) producing coconut milk, powder, water, beverages, and traditional coconut products under the S&P Santan and Cosip brands for retail, food service, industrial, OEM, and export customers across 40+ countries, and is listed on the HKEX Main Board.
- Ownership category
- akta.pro rank
S&P industry classification
Industry- Product category
- Coconut Food Products Manufacturing
- NAICS
- Dairy Product (except Frozen) Manufacturing (31151), Food Manufacturing (311), Soft Drink Manufacturing (312111)
- SIC
- Dairy Products (2020), Beverages (2080), Food And Kindred Products (2000)
- akta.pro primary industry
- Plant-Based Milk & Creamer Processing (Oat, Soy, Almond, Coconut, Blends) (AFAHAJAA)
- akta.pro secondary industries
- Plant-Based & Dairy Alternative Beverages (Oat, Almond, Soy, etc.) (CRADAHAM), Edible Oil Packaging, Bottling & Private Label Manufacturing (AFAKAEAJ), Plant-Based Barista & Foodservice Formulations (Foaming/Steaming Milks, Culinary Creams) (AFAHAJAG)
Keywords
Where S&P is headquartered
LocationHeadquarters
- HQ city
- Selangor
- HQ country
- Malaysia
- HQ region
- Asia
Offices4 records
Markets served
S&P business model
Business model- GTM type
- B2B and B2C
- Offering type
- Hardware or Manufacturing
- Cost components
- Supply Chain, Operations, Personnel, Marketing or Sales, Infrastructure, Technology or R&D
Revenue model
- Consumer Coconut Products: Direct sales of branded coconut products including coconut milk, coconut milk powder, coconut water, coconut milk beverages, desiccated coconut, and ketupat & kerisik to retail consumers and food service operators
- OEM/Private Label Solutions: Customized coconut product manufacturing for businesses under their own brand names, offering customized solutions for food manufacturers
- Export Sales: International distribution of coconut products to over 40 countries worldwide, managed through dedicated export sales team
- Industrial Products: Bulk and industrial-grade coconut products for food manufacturing and processing companies
Go-to-market motion3 records
Distribution channels6 records
Marketing channels6 records
S&P product offering
Product offeringCore offering
S&P Industries manufactures and sells coconut-based food and beverage products including coconut milk, coconut milk powder, coconut water, coconut milk beverages, desiccated coconut, ketupat, and kerisik under the S&P Santan and Cosip brands. The company serves retail consumers, food service operators, industrial food manufacturers, and export markets across 40+ countries, and offers OEM/private label manufacturing for businesses seeking customized coconut product formulations.
Product overview
S&P Industries is a coconut product company operating as a single-brand, multi-product portfolio. The company is organized around its S&P Santan and Cosip sub-brands, offering coconut milk, coconut milk powder, coconut water, coconut milk beverage, desiccated coconut, and traditional products (ketupat & kerisik). Products span retail consumer packs, food service formats, and industrial/OEM bulk supply. The company also provides OEM/private label solutions for businesses, as well as export services to over 40 countries.
Differentiator
Problem solved
Functional benefit
Brands
- S&P Santan: Coconut milk and related coconut products brand. Malaysia's first coconut milk powder producer, now offering Coconut Milk, Ketupat, and Desiccated Coconut.
- Cosip
Products and services
- S&P Santan Coconut Milk Premium coconut milk extracted from fresh coconuts, offering a rich and creamy texture with aromatic neutral coconut taste, packaged using Tetra Therm Aseptic VTIS technology to preserve natural taste, aroma, and nutritional values. Targets retail consumers and food service operators.
- Cosip Coconut Water Ready-to-drink coconut water made from 100% coconut water, available in Original and Lemongrass variants, packaged in Tetra Pak aseptic cartons with natural electrolytes, potassium, no preservatives, and no added flavour. Targets retail consumers.
- Cosip Coconut Milk Beverage A smooth, plant-based coconut milk beverage packed with natural nutrients for everyday enjoyment, bringing the goodness of coconut in a ready-to-drink format. Targets retail consumers.
- Coconut Milk Powder Spray-dried coconut milk powder offering natural coconut taste in an easy-to-use powder format for favorite recipes, available under both S&P Santan and Cosip brands. Targets retail consumers, food service operators, and industrial food manufacturers.
- Desiccated Coconut Dried, shredded coconut flakes for use in baking, cooking, and confectionery applications. Targets retail consumers and industrial food manufacturers.
- Ketupat & Kerisik Traditional coconut-based products used in Malaysian cuisine, including ketupat (rice cakes) and kerisik (toasted coconut paste). Targets retail consumers and food service operators.
- Barista M*lk Alternative (with JWC) A coconut-based milk alternative specifically formulated for specialty coffee applications, developed in partnership with JWC (JWC Coffee). Targets the growing plant-based milk market in food service and specialty coffee segments.
- OEM / Private Label Solution Custom manufacturing services for brands and retailers seeking coconut-based products under their own private labels, offering customization capability, flexible production minimums, and quality assurance. Targets food manufacturers and brand owners.
- Industrial Products Bulk and industrial-grade coconut ingredients supplied to food manufacturing and processing companies requiring coconut-based ingredients for production. Targets industrial food manufacturers and dairy alternative companies.
Companies that use S&P
Customer profileNamed customers4 records
Segments5 records
Ideal customer profiles5 records
S&P technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature5 records
S&P partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- JWC (JWC Coffee)coreStrategic partnership to develop and launch Barista M*lk Alternative - a coconut-based milk alternative specifically formulated for specialty coffee applications, announced August 18, 2023. This collaboration targets the growing plant-based milk market in food service and specialty coffee segments.
Scale indicators6 records
Recent moves5 records
Expansion highlights5 records
S&P competitors and assessment
Company assessmentBroad incumbents
- Vita Coco: Global leader in branded coconut water with vastly larger marketing scale and distribution — competes with S&P's Cosip Coconut Water brand in the same retail category.
- Oatly Group AB: Global plant-based milk alternative leader; while focused on oats rather than coconut, directly competes with S&P's Barista M*lk Alternative and Cosip beverage lines in foodservice and retail.
- Dabur India Limited: Large Indian FMCG company with coconut-based product lines and established plant-based ingredient capabilities — operates at much larger scale across multiple categories.
Direct peers
- Cocoaland Holdings Berhad: Malaysian-listed manufacturer of coconut-based products including coconut jelly and coconut puddings; shares S&P's Malaysia-based manufacturing footprint and similar plant-based product positioning.
- Thai Coconut Public Company: Thailand-based coconut milk and coconut cream producer (Amaz brand), directly competing with S&P in regional coconut milk markets for retail, food service, and OEM channels across Asia and globally.
- PT Kara Santan Indonesia: Indonesian coconut milk and coconut cream producer (Kara brand), competing head-to-head with S&P in retail coconut milk across Southeast Asia and export markets.
- Edward & Sons Trading Co. US-based natural foods brand with Let's Do Organic coconut flakes and cream products — comparable as a packaged coconut product specialist targeting natural and retail channels.
- Celebes Coconut Corporation: Philippine-based coconut products manufacturer producing desiccated coconut, coconut milk, and coconut oil — a direct regional peer serving similar food service and industrial B2B channels.
- Theppadungporn Coconut Co., Ltd. Thai coconut milk powder and canned coconut milk producer (Chaokoh brand), a direct competitor in shelf-stable coconut milk and coconut powder categories globally with strong food service presence.
Emerging players
- Nature's Wonder (Taste Nirvana): US-based premium coconut water and coconut milk brand with niche specialty retail distribution — a smaller branded competitor to S&P's Cosip lines in North American export markets.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
S&P social profiles
Digital presenceS&P compliance and trust
Trust signalCompliance3 records
S&P financial estimates
Financial estimateRevenue estimate
Valuation estimate
S&P leadership team
Management profileNumber of profiles
Profiles8 records
S&P funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
S&P M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about S&P
What does S&P do?
S&P Industries manufactures and sells coconut-based food and beverage products including coconut milk, coconut milk powder, coconut water, coconut milk beverages, desiccated coconut, ketupat, and kerisik under the S&P Santan and Cosip brands. The company serves retail consumers, food service operators, industrial food manufacturers, and export markets across 40+ countries, and offers OEM/private label manufacturing for businesses seeking customized coconut product formulations.
Is S&P a public or private company?
S&P is a public company. It is classified as public and is currently operating.
When was S&P founded?
S&P was founded in 1983. It employs 101 to 250 people.
Where is S&P based?
S&P is headquartered in Selangor, Malaysia, in the Asia region.
How does S&P make money?
Four revenue lines are on record. Consumer Coconut Products are the primary driver. The others are OEM/Private Label Solutions, export Sales and industrial Products.
Who are S&P's main competitors?
Broad incumbents on record are Vita Coco, Oatly Group AB and Dabur India Limited. Direct peers are Cocoaland Holdings Berhad, Thai Coconut Public Company, PT Kara Santan Indonesia, Edward & Sons Trading Co., Celebes Coconut Corporation and Theppadungporn Coconut Co., Ltd.. Nature's Wonder (Taste Nirvana) is listed as an emerging player.
Does S&P have an API?
No public API is recorded for S&P.
What industry is S&P in?
S&P's product category is Coconut Food Products Manufacturing. Its primary akta.pro industry code is AFAHAJAA, Plant-Based Milk & Creamer Processing (Oat, Soy, Almond, Coconut, Blends), with a secondary code of CRADAHAM, Plant-Based & Dairy Alternative Beverages (Oat, Almond, Soy, etc.). Its NAICS code is 31151 and its SIC code is 2020.