PETALING JAYA: Fraser & Neave Holdings Bhd (F&N) has allocated RM25 million in capital expenditure for its F&N Dairies manufacturing plant in Pulau Indah, Selangor, to enable five million cases in additional annual capacity.
Similarly, F&N said it is also looking at targeted capacity expansion in its plants in Rojana and Pakchong, Thailand.
Together with its Thai operation, F&N said it is targeting RM800 million in total exports by 2020 while firmly establishing exports as a sustainable third pillar alongside contributions from the Malaysian and Thai business operations.
On the strengthening ringgit and Thai Baht against the US dollar, its CEO Lim Yew Hoe said the impact should be slightly favourable even though it presents a challenge to the export team.
Going forward, Lim said he expects the economic landscape in Malaysia and Thailand will continue to be challenging albeit with higher gross domestic product (GDP) forecasts and a strengthening currency.
Nevertheless, Lim said he is hopeful that the new products to be launched would provide new growth engines.
During its AGM today, shareholders has approved payment of a final single tier dividend of 30.5 sen per share for the financial year Sep 30, 2017, which is payable to shareholders on Feb 9, 2018. The entitlement date of the dividend is Jan 29, 2018.
Source: The Sun Daily