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Food & Beverages

FARM FRESH BERHAD (FFB)

Company Score: 6.9/10Data as of: 7 Sept 2026

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1D • MYX

10 Oct, 05:07 am

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Company Profile

🥛 Farm Fresh Berhad - Malaysia's Premium Dairy Leader

Farm Fresh Berhad (Bursa: 5306) is Malaysia's leading integrated dairy company. Founded by visionary entrepreneur Loi Tuan Ee, the company has transformed Malaysia's dairy landscape by offering premium quality fresh dairy products that challenge the dominance of giants like Nestle and Dutch Lady.

Farm Fresh's journey began with a simple but powerful vision: to supply high-quality locally-produced fresh milk to Malaysian consumers. From cattle farms in Australia to supermarket shelves across Malaysia, Farm Fresh built an integrated business model that controls quality from farm to table.

The company listed on Bursa Malaysia's Main Market in March 2022 at an IPO price of RM1.30. Since its IPO, FFB shares have surged more than +95%, reflecting investor confidence in the company's growth prospects. At the current price of RM2.53 (Apr 2026), the company's market cap stands at approximately RM4.74 billion.

✅ Shariah-Compliant Status

Farm Fresh Berhad is a Shariah-compliant stock - suitable for Muslim investors who prioritise investments aligned with Islamic principles.

📊 Two Core Business Segments

  • Malaysia (Core Business): Production and distribution of dairy products in Malaysia. This is the company's main growth engine with better margins and a strong brand. Product range includes fresh milk, flavoured milk, drinking yogurt, yogurt, plant-based milk (soy, oat), goat milk, UHT milk, and ice cream (upcoming).
  • Australia (Upstream Supply): Operations across 7 dairy cattle farms with a herd exceeding 13,000 cows. Produces fresh milk, jams and sauces under the IXL brand. Serves as upstream supply and has independent revenue in the Australian market. This segment has been slightly weaker recently due to reduced export deliveries.

🛍️ Product Portfolio

Farm Fresh offers a comprehensive range of dairy products including:

  • Chilled fresh milk (iconic product - the primary challenger in the fresh milk category)
  • Flavoured milk (chocolate, strawberry, various flavours)
  • Drinking yogurt and set yogurt
  • Plant-based milk: soy milk and oat milk
  • Goat milk
  • UHT milk (longer shelf life)
  • Ice cream - new segment under development, expected to launch mid-2026

🌏 Regional Expansion

Farm Fresh is aggressively expanding its Asian footprint. Exports to Cambodia commenced in August 2025 and have already surpassed exports to Singapore - a remarkable achievement in a short time. The Philippines is the next target market.

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Financial Analysis

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Dividends

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Valuation

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Peer Comparison

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Red Flags

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Scorecard

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Growth Catalysts

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Conclusion

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