News

Commercial Property Food & Beverage

Staff Reporter

, Singapore

Published:

2 years ago

Logo from Fraser & Neave Holdings

F&NHB unit leases parcel of land in Cambodia for US3.86m

The lease term will be 50 years.

F&N Foods, a wholly-owned subsidiary of Fraser & Neave Holdings (F&NHB) in Cambodia, will lease a parcel of land owned by Suvannaphum Investment for US3.86m ($5.2m).

Suvannaphum Investment is under the control of Y.Bhg. Tan Sri Charoen Sirivadhanabhakdi (Tan Sri Charoen) and the estate of the late Y.Bhg. Puan Sri Wanna Sirivadhanabhakdi, who are deemed major shareholders of F&NHB.

The lease term will be 50 years, commencing 1 February to 31 January 2074.

F&N Foods must pay the lease price within two weeks of completion of the incorporation and tax registration and receipt of a valid tax invoice. The company will fund the lease through internal funds.

F&N Foods will lease the land to set up a manufacturing facility for dairy products in Cambodia.

The company estimates the total cost for setting up the manufacturing facility at US$37.5 million ($50.5m), including leasing cost, building construction, and machinery purchase.

F&N Foods plans to commence operations of the manufacturing facility in 1Q26.

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