Farm Fresh Optimistic On Profit Growth With Expansion In Asean Markets
KUALA LUMPUR, Sept 9 (Bernama) -- Johor-based dairy product specialist Farm Fresh Bhd remains optimistic about its profit growth next year, supported by steady progress in both local and overseas projects.
Group chief financial officer (CFO) Mohd Khairul Mat Hassan said operations in Australia have begun to recover from earlier losses, while the Malaysian market continues to perform strongly.
“Combined with Malaysia doing well, we get more chilled milk products being sold in the Philippines, then we should be able to make quite a good number there,” he told reporters on the sidelines of the ASEAN CFO Sustainability Leadership Summit here today.
Farm Fresh began operations in the Philippines with a new processing facility in San Simon, Central Luzon, in September 2024, catering to the Greater Manila market with chilled products, UHT products and growing-up milk powder.
Meanwhile, he said the group is also exploring plans to set up a factory in Cambodia, positioning the country as a gateway to the Indochina market, which includes Laos, Myanmar and Vietnam.
Mohd Khairul said Cambodia offers significant potential with its young population, rising gross domestic product per capita and strong coffee culture, noting that international operations, including Singapore, still contribute less than five per cent of the group’s overall numbers.
Looking ahead to the second half of 2025, he said Farm Fresh expects strong quarterly results, barring major global uncertainties.
It is also benefiting from softer commodity prices, with lower corn and soybean meal costs easing pressure on margins.
On mergers and acquisitions, Mohd Khairul said the group is open to opportunities locally and abroad but will only proceed if they align with its strategic objectives, such as entering a new market or strengthening specific product segments.
“We will only do an acquisition if it fits our strategic purpose. For example, to go into another country or to expand into a specific segment within a particular region or within a particular product category,” he added.
-- BERNAMA