Case Studies of Our Work in Corporate Malaysia
Farm Fresh Berhad is a true Malaysian success story, rising from humble beginnings to becoming the nation’s largest home-grown integrated dairy company delivering products that are free of preservatives, artificial colourings and flavourings.
Since our initial investment in 2010, we have actively assisted with the company’s governance, recruitment, strategic planning and financial structuring. Farm Fresh has evolved into a fully integrated dairy company with a strong presence across the dairy value chain – from farm management and animal husbandry through to milk processing and distribution enabling them to scale up production volumes while ensuring quality and safety.
Beyond product benefits, Farm Fresh is a socially responsible business. Today, over 70% of their workforce hail from rural communities across Malaysia, including Orang Asli communities. Their home dealer distribution network expands access to non-urban areas. Through this network, thousands of stockists, home dealers and agents – many of whom are women – sell Farm Fresh products within their communities, earning a decent margin and improving their livelihoods while expanding the company’s reach.
Farm Fresh places great emphasis on operating sustainably by creating value to stakeholders across the value chain, especially given that their landbanks are in close proximity to natural environments and local communities. Since 2014, they have progressively introduced regenerative agriculture practices, contributing to the circular economy by utilising treated animal waste as a source for bedding, fertiliser and pasture irrigation. All of their farms have attained the globally-coveted Certified Humane® accreditation, a testament to their commitment to practices that put animal health and welfare first.
Farm Fresh successfully listed on the main market of Bursa Securities on 22 March 2022, with proceeds from the IPO supporting the company’s expansion plans for continued growth
Largest IPO
in Malaysia since June 2021
Closing share price on listing day at RM1.72,
27.4% above IPO price
Cenviro is an expert in waste management across a wide range of waste categories, providing specialised services delivered via its network of subsidiaries. Through its wide range of services, Cenviro has become a key advocate and driver of Malaysia’s transition towards a sustainable future. Our involvement since March 2014 has played a critical role in this journey, enabling Cenviro to scale its operations, widen its waste management to new and growing categories of waste while fully embracing ESG friendly practices within its own business.
With more emphasis on internal ESG practices under our active stewardship, Cenviro launched the company’s five-year greenhouse gas (GHG) emissions reduction roadmap in 2021, under which they aim to reduce their GHG emissions intensity by 5% by 2025 (with 2020 as the baseline year) by improving the usage efficiency of electricity, transportation and materials. With a GHG reduction of 1.34% in 2021, Cenviro is on track to achieve its target.
Cenviro’s business model has also led the way in becoming a circular economy leader within the country. Cenviro recycles approximately 2,000 tonnes of e-waste per year through Shan Poornam Sdn Bhd (SPSB), with a recovery rate of 99.7%. Meanwhile, E-Idaman Sdn Bhd (EISB) has localised waste recycling within local communities, launching Malaysia’s first drive-through recycling centre and developing a cutting-edge recycling resource hub to efficiently recycle paper, plastics and e-waste from municipalities.
Today, Cenviro is embarking on its next phase of growth with an ambition to be a regional waste management champion. In May 2022, Khazanah entered into a strategic partnership with South Korea’s SK ecoplant Co. Ltd (SK ecoplant), to enable Cenviro to reach its regional waste management ambitions, by providing Cenviro access to cutting-edge waste management technologies and exemplary operational expertise that will spearhead its regional expansion as well as enhance its ESG performance. Eco-friendly at its core, SK ecoplant’s capabilities span various critical fields and industries including recycling, waste management and renewable energy. As such, the partnership will empower Cenviro to further integrate sustainability within its mission and processes alike, enabling them to take a leadership role in Advancing Malaysia – and the region – towards a more sustainable future.