KUALA LUMPUR: Fraser & Neave Holdings Bhd will be allocating up to RM500 million to transform itself from a tightly controlled food and beverage firm into a more regional and full fledged group between three and five years, its chief executive officer Datuk Ng Jui Sia said.
"Under the transition agreement signed with Coca Cola, we are free to pursue exciting growth opportunities via the introduction of new brands or categories from Jan 27, 2010 for both domestic and export markets," he told reporters after the company's AGM here on Wednesday, Jan 19.
F&N had in 2009 said its Coca Cola buinsess will end in September 2011.
Jui added the investment in COCOALAND HOLDINGS BHD [] will serve as a pillar for the company to tap into and expand in the food business, which is also part of the group's transformation plan.
Last year, F&N bought a 23.08% stake in Cocoaland at RM1.38 per share.
"Under the transition agreement signed with Coca Cola, we are free to pursue exciting growth opportunities via the introduction of new brands or categories from Jan 27, 2010 for both domestic and export markets," he told reporters after the company's AGM here on Wednesday, Jan 19.
F&N had in 2009 said its Coca Cola buinsess will end in September 2011.
Jui added the investment in COCOALAND HOLDINGS BHD [] will serve as a pillar for the company to tap into and expand in the food business, which is also part of the group's transformation plan.
Last year, F&N bought a 23.08% stake in Cocoaland at RM1.38 per share.
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