PETALING JAYA: Singapore-based Dymon Asia Private Equity (DAPE) has invested in The Holstein Milk Company Sdn Bhd (THMC) via the holding companies of THMC, Rainforest Capital Sdn Bhd and Farmchoice Foods Sdn Bhd. THMC is an integrated producer, distributor and brand owner of dairy products in the Malaysian and Singapore market.
DAPE’s investment consists largely of new capital to fund further investments in THMC.
In a release, THMC said that it will utilize the capital injection from DAPE to expand its production capacity and launch new products. The company will also use some of the funds to further strengthen the company’s expansion in Australia.
Loi Tuan Ee founded THMC in 2007 with initial operations in dairy goat farming. The company then expanded operations into dairy cow farming with the import of 60 Holstein Jersey cows from Australia.
Today, more than 10 years later, THMC has more than 5,000 cows across its farms in Malaysia and Australia.
THMC manages dairy farms, produces fresh and flavoured milk and yogurt and sells their products under the ‘Farm Fresh’ and ‘Yarra’ brands at leading supermarkets and hypermarkets across Malaysia and Singapore.
Tan Chow Yin, Partner at Dymon Asia Private Equity, said: “Farm Fresh is a brand that Malaysians and increasingly Singaporeans too, have grown to know and love over the years, and is a market leader in fresh dairy milk in Malaysia. We have watched the brand grow from a few SKUs to more than 50 today,”
“Tuan Ee and his team, together with strong support from Khazanah Nasional, have a very single- minded focus to develop the Farm Fresh range of products, bringing high quality and healthy dairy goods to consumers at affordable prices,”
“We hope to also assist Tuan Ee and his team to grow beyond Malaysia. We are very excited about this partnership and look forward to working closely with Tuan Ee and management”.
Loi Tuan Ee, who is also managing director of THMC, said, “We are delighted with the investment by Dymon Asia Private Equity and the confidence they have shown in us. The investment will help fund our next phase of growth and help us achieve our vision of bringing nutritious dairy products to Malaysia, Singapore and beyond. We are delighted with the participation and help that Chow Yin and his team will bring”.