Fraser and Neave (F&N) through its subsidiary Fraser & Neave Holdings (F&NHB) will be injecting over RM210 million (SG$70million) to fuel business growth in Malaysia. This is in line with Vision 2020 goals of strengthening F&N’s key market positions.
F&N will be doing so by leveraging its brand portfolio and distribution and bottling facilities. These capital expenditure projects include a new warehouse facility and investing in other state-of-the-art packaging capabiltities. With these initiaitives in place, it hopes to boost F&NHB’s total asset value in Malaysia to RM1.9 billion.
These projects are part of F&NHB’s total RM300 million (SG$102 million) capital expenditure committed over two years in Malaysia, one of the F&N’s core markets, to sustain the F&N’s position in the industry and extend its product offerings and packaging formats.
Currently operating five soft drinks manufacturing plants in the country, F&N’s addition of the new bottles and production lines will enable it to meet increasing demand for its ready-to-drink tea, soya and Asian soft drinks products, bringing closer to their philosophy of “Pure Enjoyment. Pure Goodness”, said the company.
“This also underscores the importance of Malaysia as one of our core markets, and reflects our confidence not only in the growth potential of our brands and our role and position in the industry, but also in the long-term economic growth in Malaysia,"Lee Meng Tat, chief executive officer, non-alcoholic beverages, said.
Lee added that the current brands enjoy market leadership positions and going forward, F&N aims to fulfill anticipated growth and demand for healthier drinks in the medium- to long-term.