“For phase 1, the company will start to bring in 2,000 cows featuring a milk processing capacity that can produce 100 million litres per annum,” he said during F&N’s financial year 2024 half-year financial results briefing.

Lim said the project is slated to begin the first milking process by early 2025, and the company aims to break even in three years.

He added that the dairy farm, which spreads over 2,726 hectares, will also plant corn as a feedstock for the cows.

Lim said the company plans to export to other countries after three years of operation, eyeing Hong Kong, Macau and the Middle East in the near future.

“For the first two or three years, we will focus on Malaysia, Singapore and Cambodia,” he said.

Lim said the Ladang Permai Damai dairy farm project is part of F&N’s plan to become one of the largest milk producers in Malaysia.

As at 2.44pm, F&N’s share price was higher at eight sen or 0.25% at RM31.90, giving the group a market capitalisation of RM11.69 billion.