Fraser & Neave Holdings Berhad (F&NHB) is a listed company in Malaysia that manufactures, distributes, markets, and sells 100% halal-certified beverages and dairy products. It has a strong business presence across Malaysia, Thailand, and Singapore with eight manufacturing plants in the first two countries. As at 23 January 2019, F&NHB had a market capitalisation of over RM13 billion.

‘F&N’ is a well-known household name among Malaysian consumers and has 20 brands as follows:

Source: F&NHB 2018 annual report

F&NHB is the leader in carbonated soft drinks, ready-to-drink tea, and sweetened condensed milk in Malaysia which are market under the brands 100PLUS, OYOSHI and F&N SEASONS, and F&N respectively. It is also the market leader for evaporated milk products in Thailand.

After quick research on F&NHB, I realised its revenue grew at an annualised rate of just 1.3% over the last 10 years — from RM3.7 billion in 2009 to RM4.1