Posted on 08th October 2019
KUALA LUMPUR — Fraser & Neave Holdings Bhd (‘F&NHB’ or ‘the Group’) announced today that it has, through F&N AgriValley Sdn Bhd (formerly known as Rimba Perkasa Sdn Bhd), its direct wholly-owned subsidiary, entered into a conditional sale and purchase agreement with MSM Perlis Sdn Bhd, a direct wholly-owned subsidiary of MSM Malaysia Holdings Berhad to purchase 4,454 hectares of leasehold land in Chuping, Perlis (‘Ladang Chuping’) for RM156 million.
F&N AgriValley’s acquisition of Ladang Chuping is to explore the upstream insourcing of fresh milk to support existing downstream production and distribution of fresh milk products.
F&NHB Chief Executive Officer, Lim Yew Hoe, said that the vertical integration model for Ladang Chuping will enable F&NHB to be less dependent on imported milk while promoting the local agricultural industry in line with the nation’s ambition to be more self-sufficient.
“This investment reflects the potential we see in filling the gap of local dairy sector, and the huge opportunity to increase fresh milk consumption in Malaysia in our journey towards a healthier society,” said Mr. Lim.
“The large contiguous land allows for an integrated model from grass to glass. It will be based on a sustainability agenda, using precision agronomy technology and good practices to reduce the overall carbon footprint of the crop farm; dairy barns and other facilities,” he added.
Ladang Chuping is situated approximately 28 kilometreers to the north-east of the town of Kangar or approximately 8 kilometers to the south of the town of Padang Besar.
Mr. Lim said that F&NHB is currently studying various options for the integrated model and more details will be provided in due course.
ABOUT FRASER & NEAVE HOLDINGS BHD
Fraser & Neave Holdings Bhd (F&NHB) is a Malaysian-incorporated company listed on Bursa Malaysia’s Main Board with expertise and a prominent standing in the food and beverage business. F&NHB has a rich history spanning 136 years, positioning the company and brand as one that is trusted by generations.
A Syariah compliant company, F&NHB boasts a portfolio of 20 well-loved brands which are leaders in many segments namely 100PLUS, F&N Fun Flavours, F&N SEASONS, F&N Condensed and Evaporated Milk, F&N Magnolia, OYOSHI, Farmhouse, CARNATION and F&N Fruit Tree.
F&NHB is the Top 5 Best Employer Brands in Graduates’ Choice Award 2018. F&NHB is also a constituent of FTSE Russell FTSE4Good Bursa Malaysia (F4GBM) Index for its strong commitment to responsible business practices on environmental, social and governance (ESG) matters.
F&NHB employs 2,600 people across its operations in Malaysia, Brunei, Thailand and Indochina.