KUALA LUMPUR: Fraser & Neave Holdings Bhd (F&N) has allocated RM30 million as capital expenditure (capex) for the 2019 financial year (FY19).
In a filing with the stock exchange, the group said the investment will also go into new production lines and add-ons to expand the capacity and capability of existing lines to facilitate its extension into new offerings and packaging formats.
“These latest initiatives complements F&N’s continuous drive to improve its efficiency, expand its capacity and capability while leveraging the latest technology to meet consumers’ evolving demand,” it noted.
On another note, F&N CEO Lim Yew Hoe said the group supports the authorities move to promote the health and wellbeing of Malaysians through the introduction of the sugar sweetened beverages excise tax.
The group will focus on bringing the sugar content for most of its products to be below 5%.
“We are prioritising our efforts by focusing on product categories according to the significance of impact to our group. Hence, we are investing RM30 million this year at our beverage plant this year to ramp up our capability in new product offerings and packaging formats,” he added.
