F&N eyeing bigger market share in global halal market

Publish date: Fri, 09 Sep 2022, 01:16 PM
KUALA LUMPUR: Fraser and Neave Holdings Bhd (F&N) plans to leverage on its products to gain more market share while expanding its footprint, especially in the global halal market.
 
Government and industry relations and halal affairs director Datuk Raffiq Ariff said taking the example of its oyster-flavoured sauce and soya sauce from Sri Nona, the products have great prospects to venture into deeper markets, especially in the Muslim majority population.
 
"We see that the share in 'cake' for these markets is still big and we want to take the opportunity to gain some share from it, particularly in the Middle East and Northern Africa (MENA) region.
 
"This will certainly boost our presence and increase our brand awareness," he told Bernama at the 18th Malaysia International Halal Showcase (MIHAS 2022). 
 
Presently, he said the F&N is present in 88 countries, including an office in Dubai.
 
Meanwhile, he said the group is in the final stage of acquiring a 2,800 hectares dairy farm.
 
Raffiq said he hoped that once the deal is completed, the farm would enable the group to operate in a more sustainable manner while keeping its product prices low for consumers.
 
"As half of our products are from dairy, it is natural that we venture into this business. Right now, we are importing most of our ingredients... it is expensive and we are losing in terms of foreign exchange," he said.
 
He said the sizeable farm would also allow the group to produce its own feed such as food for cattle, hence, reduce more import costs.
 
Earlier this year, it was reported that F&N were acquiring a mega-dairy farm in Gemas, Negeri Sembilan, involving an investment of up to RM2 billion.
 
Besides that, he said F&N is still looking into more acquisitions, especially in the food-based segments following the acquisition of Sri Nona, Cocoaland and the dairy farm,
 
However, he declined to elaborate on the plan of future acquisitions.
 
On another note, Raffiq said the group sees MIHAS as a reputable platform for Malaysian companies to showcase their best halal products to the world.
 
"The halal market is very important to us and it is basically the pillar of our growth. As a Syariah-compliant based company, we see that the food and beverage (F&B) in halal will grow exponentially in years to come given the increase in the Muslim population year-on-year," he said.
 
He said judging by the crowd in the past two days in MIHAS 2022, the turnout has been very encouraging, considering that Malaysia is still recovering from COVID-19.
 
"We always look forward to attend the many next editions of MIHAS because it is also one the 'baby' product of Malaysia External Trade Development Corporation (MATRADE) in promoting Malaysian brands to the world," he added.
 
 
 - Bernama

Labels: F&N

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