PETALING JAYA: Prices for all Massimo bread products will increase from 10 sen to 60 sen starting Saturday (Oct 15), except for its White Sandwich Loaf.
The Italian Baker Sdn Bhd said the price increase was due to rising costs of logistics and raw materials.
Chairman Jeremy Goon said the price of the White Sandwich Loaf would not change to help the people cope with inflation and remain an affordable staple for everyone, especially during the economic downturn.
He also assured consumers that quality will not be compromised for them.
"Consumers will continue to enjoy the same delicious taste and exceptional quality at the same affordable price," he was reported saying.
However, on price increase of other variants, the company acknowledged that it was deeply affected by global and local inflation, which also affected other industries.
Goon, who had previously cautioned about a price increase in August this year, said the company has been facing rising logistics costs and prices for raw materials, including all baking ingredients.
The company last increased its prices in January 2022, also citing the rise in prices of raw materials.
The retail selling price for Massimo White Sandwich Loaf would remain at RM2.80 for 400g and RM4 for 600g.
The Italian Baker Sdn Bhd is a wholly-owned subsidiary of FFM Berhad, the largest flour miller in Malaysia and majority-owned by business legend Robert Kuok’s PPB Group Berhad.
The bakery operates a large RM120mil industrial bakery in Pulau Indah, Klang.
It currently has four production lines consisting of 6,000 loaves-per-hour bread lines, a 24,000 rolls-per-hour roll line, a 15,000 pieces-per-hour cake line and a 6,000 buns-per-hour line. - Star
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