FRASER & NEAVE HOLDINGS BERHAD (F&N, 3689)

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FRASER & NEAVE HOLDINGS BERHAD (F&N, 3689)

23/05/2025 07:54 pm MYT

In this issue, i Capital updates on Fraser & Neave Holdings Berhad (F&N), a leading food and beverage company in the ASEAN region. F&N boasts a portfolio of more than 30 brands that are leaders in many segments. The brands include 100PLUS, BORNEO SPRINGS Natural Mineral Water, F&N Fun Flavours, F&N SEASONS, OYOSHI, F&N Magnolia, FARMHOUSE, F&N ICE MOUNTAIN, as well as a wide range of condensed and evaporated milk products under F&N, TEAPOT, GOLDCOIN, Cap Junjung, Ideal and Carnation brands.

Resilient business performance

F&N’s financial performance is primarily driven by two core business segments; namely, F&B Malaysia and F&B Thailand. As illustrated in figures 1 and 2, F&B Thailand has been growing at a faster rate and consistently generated higher operating profits than its Malaysian counterpart. This outperformance can be partially attributed to the synergistic benefits from F&N's partnership with Thai Beverage

Note from Publisher

Tan Teng Boo has said for some time that China has the strongest economy in the world. This optimism is not based on blind trust or biased opinion, but it is after deep, thorough and comprehensive research and analysis. No other country in the world has the resources and potential that China and the Chines people have. US protectionist and China-bashing policies since 1949 will not stop China from growing and developing into a modern and prosperous civilisation.

Nvidia’s Huáng Rénxūn said that more than 50% of top AI researchers around the world are Chinese. US AI companies such as Anthropic, OpenAI, and DeepMind are filled with Chinese employees working on top-end projects. Nvidia’s CEO will agree with Teng Boo’s optimism on China.

US discriminatory and harsh regulations against China will not crush the country, but make her stronger. Eventually, Chinese technology will diffuse around the world like in the last 3,000 years. Do not be distracted by temporary problems confronting the Chinese economy, rather look at her tremendous long-term potential. As Tan Teng Boo has said, the next 75 years will be even more exciting for China. i Capital has been advising subscribers to invest in Chinese stocks, which are undervalued and have tremendous upside.

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