F&N tax expenses spike expected to ease

F&N chief executive officer Lim Yew Hoe.

PETALING JAYA: With higher tax bills and startup losses weighing on recent earnings, Fraser & Neave Holdings Bhd (F&N) is doubling down on long-term bets in dairy and agriculture.

Tax expenses spiked after the expiry of Thailand’s Board of Investment incentives in the third quarter of its financial year 2024 (3Q24) and withholding taxes on repatriated profits.