Kuala Lumpur: Fraser & Neave Holdings Bhd (F&N) will explore more opportunities in the halal industry in order to expand its business, says chief executive officer Datuk Ng Jui Sia.
“We will feel the impact of the Coca-Cola company stepping out, but it doesn’t mean that we must stay at our current level.
“We must transform ourselves, we should explore other opportunities by using our halal status,” he told reporters at the company’s annual general meeting here Friday.
The beverages group’s contract with Coca-Cola expired in September last year.
On the local front, F&N will face many challenges this year with the rise in prices of raw materials and milk powder.
Ng said: “The sugar price issue in Malaysia has not been resolved, so there will be challenges.
“The most important thing is the more competitive landscape with Coca-Cola and F&N now on their own.
The global business outlook will also be challenging with the eurozone debt crisis as well as the economic slowdown in China and Asean, he said.
F&N’s revenue for the financial year ended September 2011 declined to RM3.9 billion against RM4.0 billion previously.