Farm Fresh

DYMON ASIA PRIVATE EQUITY INVESTS IN THE HOLSTEIN MILK COMPANY

September 3, 2018

Dymon Asia Private Equity (S.E. Asia) Fund II Pte. Ltd (“DAPE”) has invested into The Holstein Milk Company Sdn Bhd (“THMC” or the “Company”) via 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.

The investment consists largely of new capital to fund further investments in THMC. THMC 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.

Mr. 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. The Company also supplies its “Master Barista” brand to HORECA channels.

Mr. 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. On a per capita basis, Malaysians consume much lower volumes of milk products than citizens of many countries. We believe that Farm Fresh is well poised to address this need. 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”.

Mr. Loi Tuan Ee, Managing Director of THMC and founder of the Farm Fresh brand, 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”.

About The Holstein Milk Company
The Holstein Milk Company (“THMC”) is an integrated producer, distributor and brand owner in the Malaysian and Singapore dairy market. 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. In addition to selling through modern trade, THMC has also successfully developed a strong home dealer network across Malaysia. The Company also supplies its “Master Barista” brand to HORECA channels.

www.farmfresh.com.my

About Dymon Asia Private Equity
Dymon Asia Private Equity (“DAPE”) is focused on making private equity investments in Southeast Asia. Dymon Asia Private Equity (S.E. Asia) Fund II achieved a final close of USD 450 million in commitments in April 2018.

DAPE invests in companies in the lower mid-market space, or Small and Medium Enterprises (SME), in Southeast Asia. Investments are tailored to the needs of the companies with a strong focus on meeting long-term objectives. DAPE is managed by Southeast Asian professionals with a multi-year track record of making successful investments. DAPE is the Private Equity arm of Dymon Asia Capital.

www.dymonasiaprivateequity.com

We are an award winning South East Asia Focused private equity firm, investing in lower mid-market space. Owned and managed by Southeast Asian professionals with multi-year track record of successful investments. We are the private equity arm of Dymon Asia Capital

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