Kuala Lumpur, Sept 20 - Drinks maker Fraser & Neave Holdings Bhd plans to spend 430 million ringgit ($124.8 million) on new dairy plants in Malaysia and Thailand, the firm said on Thursday.
"In line with the plan to relocate and the group's commitment to modernise its production facilities and adopt world class practices, the board of directors, after careful consideration, has given approval to invest in new production facilities at Pulau Indah, Malaysia and Bangkok, Thailand at an estimated total project cost of 430 million ringgit," the firm told the stock exchange.
"Due to capacity and land constraints and dated technology, it is timely to relocate the production facility."