Equity Analysis /

MY : Fraser & Neave Holdings - To embark on upstream fresh milk business

    Walter Aw
    Walter Aw

    Research Analyst

    26 April 2022
    Published byCGS-CIMB

    FN plans to acquire Ladang Permai Damai (2,726 hectares of leasehold land in Negeri Sembilan, Malaysia) for RM216m from Dupont Leosk. The land will give FN vertical integration capabilities with local crop plantations for feeding its own dairy farm and helping it lower cost per litre. We are neutral on this announcement pending further details.