Fraser & Neave Holdings Bhd (“F&NHB” or “the Group”) is set to establish Halal food as the Group’s new pillar of growth following the acquisition of three food & beverage (F&B) companies Sri Nona Food Industries Sdn Bhd, Sri Nona Industries Sdn Bhd and Lee Shun Hing Sauce Industries Sdn Bhd worth up to RM60 million.
F&NHB Chief Executive Officer, Lim Yew Hoe said that the Group is constantly exploring ways to ‘reimagine’ its business through organic growth and business synergies to ensure a more sustainable future.
The Annual General Meeting (AGM) held virtually today, to realise its ambition of becoming a leading total F&B company in the ASEAN region.
“Our latest investment will serve as a platform to expand into more halal food segments and to meet the rising demand for convenience and ready-to-eat food products. With our robust R&D capabilities, we are confident that the new acquisitions will help us grow our halal food categories,complement our offerings, introduce more innovative products and increase our profit margin in the long run,” said Lim during the AGM.
F&NHB has also recently sharpened its route-to-market and channel strategies to understand its consumers buying behavior better thus meeting their expectations.
Having scaled up its e-commerce operations in 2020 to tap into the exponential growth in this channel, F&NHB continues to explore different order fulfilment options to strengthen its competitive edge.
Meanwhile, Food & Beverages Thailand (F&B Thailand) continued to contribute and invest in various initiatives to drive innovation and business sustainability despite the challenging circumstances and ensuing emergency decree in Malaysia.
“F&N also have identified various opportunities to fuel growth and cost efficiency, driven by three strategic priorities, namely Innovation, Cost Competitiveness and Excellence in Execution. We are confident that our knowledge, skills, expertise, capabilities, resources and commitment will continue to steer us to achieve our goals in these unprecedented times,” Lim added.
The investment will enable F&NHB to add an established Malaysian household food brand to the Group’s portfolio of renowned brands.