Fraser & Neave Holdings Bhd (F&N) is consolidating its glass-making operations in China so that the business can contribute better profit to the group, said CEO Tan Ang Meng.
F&N, which makes and mar…
Fraser & Neave Holdings Bhd (F&N) is consolidating its glass-making operations in China so that the business can contribute better profit to the group, said CEO Tan Ang Meng. F&N, which makes and markets soft drinks and dairy products, entered glass-making 11 years ago with its first manufacturing plant in Vietnam, and more recently moved into China. The group has five manufacturing plants involved in glass-making, including two in Malaysia, contributing about 15%, or about MYR 300 million, to group turnover. “We are always looking for new business opportunities to leverage our considerable success and skills in food, beverage and glass packing production, management, marketing and distribution,” Tan said. Tan said such opportunities, however, must be complementary to the group“s core businesses and offer synergies and allow for profitable growth that will add value for all its stakeholders. “We are pushing for growth for our Chinese business next year and switching to higher value items,” said Tan. Tan said F&N“s glass-making activities mainly serves the food business as the group makes glass containers for its customers. For the glass-making activities, Tan said the group is already increasing its footprint in Asia and is targeting other South-East Asian countries for opportunities. “We have technical competencies in glass containers and with a regional presence, we are able to cater to multinational companies with multi- location factories and meet their need for multi-sourcing,” added Tan. F&N is 60% owned by F&N Ltd (Singapore). The rest of the stake is held by local institutions with Amanah Saham Bhd holding 20%.