F&N To Expand Export Market, Banks On Thailand

KUALA LUMPUR, Jan 19 (Bernama) -- Fraser & Neave Holdings Bhd (F&N), a Malaysia-based investment holding company will continue to focus on increasing exports to more than 30 per cent this year, supported by its own brands such as the Teapot condensed milk. Chief Executive Officer Lim Yew Hoe said growing its export business, which represented the third pillar of this food and beverage company, was a natural progression after successfully expanding its business in Thailand. "Our Thailand operations has contributed about 40 per cent to group revenue and we hope to capture more market (share) in that country," he told reporters after the company's annual general meeting here Thursday. For the year ended Sept 30, 2016, F&N's revenue stood at US$937.07 million (RM4.17 billion, US$1 = RM4.45), up 1.5 per cent, from RM4.11 billion chalked up in the corresponding year. Pre-tax rose 32.7 per cent to RM442.9 million from RM333.8 million registered a year ago. --BERNAMA