KUALA LUMPUR: Fraser & Neave Holdings Bhd (F&N) is eyeing fresh milk and plant-based beverages to drive its growth.

       Chief executive officer Lim Yew Hoe (pic) said the group has allocated RM150mil in capital expenditure (capex) this year, mainly for investment in plant-based beverages in Thailand and in Pulau Indah, Malaysia.

       “Another significant capex project is our new liquid milk and plant-based beverages factory in Thailand, which is in the final stages of commissioning.

       “Concurrently, we are also equipping our Pulau Indah plant with plant-based beverages capability by the end of this year.

       F&N factory

       “Both investments amounting to RM148mil represent a strategic shift for F&N to reduce reliance on condensed milk and enable us to grow our brand in the liquid milk segment,” he said during the group’s financial results briefing for the first half ended March 31, 2022.

       In addition, Lim said the group’s new RM20mil drinking water production plant and warehouse in Kota Kinabalu signalled its commitment to grow the drinking water business in Sabah.

       On its milk farm foray, Lim remained tight-lipped, saying the group will make the announcement when it is ready.