F & N breaks ground on new integrated dairy farm in Gemas , Negeri Sembilan
JULY-AUGUST . 2023 | @ Halal
Local News
07
Reducing reliance on imported milk
F & N breaks ground on new integrated dairy farm in Gemas , Negeri Sembilan
FRASER & Neave Holdings Bhd ( F & NHB ), known for its quality and trusted halal products , launched its foray into the upstream fresh milk business with a groundbreaking ceremony of the Group ’ s integrated dairy farm in Gemas , Negeri Sembilan . This momentous milestone puts the Group on track to become one of the largest milk producers in Malaysia when its integrated farm reaches its Phase 1 total production at 100 million litres of fresh milk .
Spread over 2,726 hectares , the farm will eventually house 20,000 milking cows , producing 200 million litres of fresh milk yearly for the local and international markets . The processing and packaging line will be situated right next to the milking parlour , offering Malaysian consumers quality fresh milk at an affordable price . It will also help promote the growth of the local agricultural industry by fostering a skilled workforce and generating job opportunities in the dairy and agriculture industries .
The Menteri Besar of Negeri Sembilan , Dato ’ Seri Aminuddin Harun , officiated the groundbreaking ceremony . Also present were Negeri Sembilan State Secretary , Dato ’ Mohd Zafir Ibrahim , Deputy Chief Executive Officer ( DCEO ), Investment Promotion and Facilitation of Malaysian Investment Development Authority ( MIDA ), Sivasuriyamoorthy Sundara Raja , the Chairman of F & NHB , Tengku Syed Badarudin Jamalullail , and F & NHB Chief Executive Officer ( CEO ), Lim Yew Hoe .
Aminuddin expressed enthusiasm for developing F & NHB ’ s dairy farm in Gemas , emphasising its potential to contribute to the local economy , the Malaysian dairy industry , and the creation of a skilled workforce .
“ Projects such as this will not only create new job opportunities and agribusiness prospects for local communities but also empower them with new technologies in dairy farming . Furthermore , F & NHB ’ s establishment of a Research & Development ( R & D ) Centre or Centre of Excellence ( COE ) for Dairy and Agriculture will contribute to the development of skilled professionals in fields such as veterinarians , animal nutritionists , agronomists , food technologists , and food R & D . These initiatives will undoubtedly enhance job opportunities for skilled workforces , driving growth in the dairy and agriculture sectors ,” said Aminuddin in his opening address .
Lim said : “ Operationalising the integrated dairy farm will result in a vertical integration of F & NHB ’ s business and operations , reducing our reliance on imported milk for downstream production and distribution . This integration will also help lower the cost per litre of fresh milk , benefitting Malaysian consumers . We also aim to export fresh milk , potentially making Malaysia a net exporter of fresh milk .”
Bank Muamalat records 20.3 per cent growth profit before zakat and taxation
BANK Muamalat Malaysia Berhad ( Bank Muamalat ) registered a record profit before zakat and taxation ( PBZT ) of RM306.7 million for the financial year ended 31 December 2022 ( FYE2022 ), representing a growth of 20.3 per cent from the RM254.9 million posted in the previous corresponding period .
Bank Muamalat President and Chief Executive Officer Khairul Kamarudin said : “ The stellar performance registered in the financial year ended 31 December 2022 was largely driven by increased distributable income and robust financing growth in tandem with the Group ’ s business growth and improved asset quality .”
Khairul said the Group also registered growth in total assets , which expanded by 14.4 per cent to RM31.5 billion , compared to RM27.6 billion in the previous financial year . This was contributed mainly by the 16.2 per cent growth or RM3.3 billion increase in total financing to customers , from RM20.7 billion to RM24.0 billion , as of 31 December 2022 , mainly from the consumer banking segment .
The Group asset quality remained low , with Gross Impaired Financing standing at 0.85 per cent as of 31 December 2022 , a marginal increase as compared to 0.83 per cent registered as of 31 December 2021 .
The Group ’ s Common Equity Tier-1 Ratio and Total Capital Ratio remained stable , closing at 12.5 per cent and 17.6 per cent , respectively , well above regulatory requirements .
The Bank will remain mindful of the evolving economic outlook in 2023 . The effect of past interest rate hikes by the major central banks in advanced countries will likely have a pronounced impact on global liquidity .
Additionally , the ongoing war in Ukraine and heightened geopolitical risks are expected to have a significant bearing on commodity prices and markets and business sentiments .
Notwithstanding that , the reopening of China ’ s economy and an accommodative monetary policy stance by the Bank Negara Malaysia would allow the financial intermediation activities to grow sustainably .
In addition , a higher allocation for development expenditure totalling RM97 billion , as indicated in the recent Budget 2023 , would catalyse domestic demand . Such a backdrop would provide a conducive ecosystem for the Group to thrive , leveraging its unique positioning and offering within the Islamic finance sphere .
“ Bank Muamalat is ready to navigate these challenges with support from our staff and stakeholders to record another important milestone in the new financial year 2023 ”, added Khairul .
Marrybrown makes Australian debut
MARRYBROWN , Malaysia ’ s most prominent homegrown halal Quick Service Restaurant ( QSR ) has officially made its debut in Australia with the opening of its first outlet .
Located in Burwood , the new restaurant will offer customers a taste of Marrybrown ’ s unique blend of Malaysian and Western flavours , including its famous crispy chicken and various other menu items such as burgers , rice dishes , and desserts .
The launch marks a significant milestone for the brand as it continues to expand its international presence and bring its flavorful cuisine to new markets worldwide .
Marking its first entry into Australia since its inception back in 1981 with outlets spanning across 16 countries worldwide , Australians ( and even Malaysians residing in Australia !) will be able to enjoy some of Marrybrown ’ s tantalising fares right in Burwood itself - strategically located nearby several universities .
Dato ’ Joshua Liew , Chief Executive Officer of Marrybrown , said that Marrybrown ’ s commitment to quality and customer service would be reflected in those visiting the Burwood Shopping Centre outlet .
“ We decided to open our first outlet at Burwood Shopping Centre because of the high concentration of students around this area . We want them to have delicious meals at their convenience and an affordable price ,” said Liew .
“ We are thrilled to bring Marrybrown ’ s unique flavours and hospitality to the Australian market with the opening of our first outlet .
“ Our goal has always been to bring joy to people through good food , and we believe that our signature dishes , includ- ing our crispy chicken , will be a hit with Australian and Malaysian customers .
We are committed to providing our customers with a high-quality dining experience , and we look forward to welcoming them to our new location in Melbourne .”
Apart from its standard MB menu items such as burgers and crispy chicken to be served , Marrybrown will also be offering some local Malaysian delights such as Curry Rice , Fried Rice with MB
Crispy Chicken and Nasi Lemak for folks who may be craving some authentic Malaysian fare .
Marrybrown will also be unswerving to the company ’ s mission of bringing “ something different ” to its customers and being halal-compliant without compromising on quality food so that all walks of life can enjoy a mix of Western and Asian fare under one roof , especially in Melbourne where it ’ s known for being a gastronomic haven . –