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Annual Report 2024

Chairman’s Message

Chairman’s Message

Y.A.M. TENGKU SYARIF BENDAHARA PERLIS
SYED BADARUDIN JAMALULLAIL
IBNI ALMARHUM TUANKU SYED PUTRA JAMALULLAIL
Chairman

Chairman’s Message

Dear shareholders & stakeholders,

It gives me great pleasure to pen a few thoughts on F&NHB’s performance in the financial year ended 30 September 2024 (FY2024).

After the fanfare of our 140th anniversary in FY2023, this year could easily have been less exciting. Yet, reality proved otherwise. FY2024 was another eventful year in which we further strengthened the Group at a fundamental level, putting in place the building blocks to spur greater growth.

Even more encouraging, our actions and achievements have further entrenched our commitment to delivering Pure Enjoyment, Pure Goodness in a sustainable manner, ensuring that our development unfolds responsibly. In leveraging these, we have further strengthened our relationships with our shareholders, our customers, partners, employees and society at large.

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Q&A WITH OUR CEO

LIM YEW HOE
Chief Executive Officer

Q&A WITH OUR CEO

Q

How would you sum up the financial year 2024 for F&NHB?

FY2024 was a forward-looking year in which we captured value while channelling our capital into areas for growth. A great deal of effort and resources went into developing our dairy and Halal food pillars, both of which demonstrate promising returns and value.

We have integrated Sri Nona and Cocoaland into one entity, Sri Nona Foods. In FY2024, we focused on standardising operations within our food pillar and with other existing units of F&NHB for greater operational efficiency and synergy.

We also established a new subsidiary in Cambodia, which we recognise as being a young and fast-growing market.

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F&N At a Glance

>RM5 billion >30 14 100% >3,700 93
13
manufacturing facilities

Extensive network coverage with

>230,000

outlets in Malaysia, Thailand, Cambodia and Laos

25 OFFICES

across Malaysia, Thailand, Brunei, Cambodia and U.A.E

TOP 5 COMPANIES

among global beverage sector in S&P Global Corporate Sustainbility Assessment 2023

FTSE4GOOD BURSA MALAYSIA INDEX

Top 1% in the global Food & Beverage Supersector

Group Financial Highlights 2024

2,950.8 2,291.0 0.8 3.0 5,245.6
305.4 (3.9) (41.9) (449.9) 709.5
Revenue

RM5,245.6

million
Operating Profit

RM709.5

million
Profit for the Year

RM544.3

million
Profit before Tax (PBT)

RM697.0

million

SUSTAINABILITY at F&N

Sustainability continues to be an important component of our business success and operations. Emblematic of our brand promise, “Pure Enjoyment, Pure Goodness”, we are committed to delivering quality and healthier products

Basis of the report

We trust that transparency and well-balanced reporting is the way to understanding the Group’s process and businesses. Through the changes we have instituted into our reports this year, and aligning with the principles of integrated reporting, we hope to provide a clear account of what we believe value creation means for our stakeholders.

ASSURANCE

Internal controls and management assurance
Compliance and internal audit reviews
External audit by KPMG PLT on financial information
External audit by Lloyd’s Register Quality
Assurance on selected Environment and Social disclosures
Board approval assisted by the Board Committees

REGULATIONS COMPLIED

Main Market Listing Requirements of Bursa Malaysia Securities Berhad
Companies Act 2016
Malaysian Code on Corporate Governance
International Integrated Reporting Framework
Malaysian Financial Reporting Standards (MFRS)

DIRECTORS’ APPROVAL

The Board acknowledges its responsibility to ensure the integrity of the Annual Report. In the Board’s opinion, the report addresses all material issues and matters and fairly presents the Group’s performance for the financial year 2023.