FARM PRICE HOLDINGS BERHAD (0304.KL)
- Sector
- Consumer Products & Services
- Price
- RM 0.305 (-8.96%)
- Market cap
- 137.6M MYR
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About FARM PRICE HOLDINGS BERHAD
Company Description
Farm Price Holdings Bhd is a Malaysia-based wholesale distributor of fresh vegetables with over 20 years of industry experience. Listed on the ACE Market of Bursa Malaysia in May 2024, the company bridges farmers and end-consumers, offering a portfolio exceeding 1,000 SKUs including whole, pre-packed, and fresh-cut vegetables, alongside F&B products and groceries. Operations span Malaysia and Singapore, supported by a centralised distribution centre in Senai, Johor, and multiple regional centres. The company also operates a retail outlet named Mamaku in Ulu Tiram, Johor.
Business Model
The company operates through two main segments: wholesale distribution and retail. The wholesale segment, accounting for the bulk of revenue, supplies fresh produce, F&B, and groceries to retailers, wholesalers, food service operators, and food manufacturers. It utilizes a centralised distribution centre in Senai equipped with cold rooms and processing areas, supported by a fleet of refrigerated trucks and regional distribution centres. The retail segment operates the Mamaku outlet, selling directly to end-consumers. The company generates revenue by sourcing from over 100 domestic and international suppliers, adding value through washing, peeling, cutting, and packing services, which command premium pricing. It leverages a diversified supply chain to ensure consistent produce availability and mitigate price volatility.
Revenue Segment
For FY2025, the revenue breakdown by segment was Wholesale Distribution contributing 93.9% (RM120.7 million) and Retail contributing 6.1% (RM7.9 million).
Geographic Segment
For FY2025, the revenue breakdown by geography was Malaysia contributing 66.9% (RM86.1 million) and Singapore contributing 33.1% (RM42.5 million).
Top Client
Key clients include Compass Group (Singapore), a leading institutional foodservice operator and panel supplier accounting for approximately 4% to 5% of total revenue. Other major customers named in FY2023 include TF Vegetables, LTE Vegetables, Farm Direct 4U (S) Pte Ltd, and Nyuk Sheng Plantation Sdn Bhd. The customer base primarily consists of wholesalers, retailers, supermarkets, minimarkets, food service operators, and food manufacturers.
Operational Scale
As of FY2025, the company operates a centralised distribution centre in Senai, Johor spanning 78,721 sq ft with a cold room capacity of 29,696 pallets. This is supported by 10 regional distribution centres across Malaysia, a sales office in Singapore, a fleet of 45 vehicles, and 1 retail store. The Senai CDC expansion, expected to commence operations in 1H2026, will increase the total built-up area to 149,548 sq ft and expand cold room capacity to 40,000 pallets, with initial utilisation targeted at 30-40% by end of 2026. The group serves 800-1,000 active customers.
Associate Companies
The group acquired a 55% stake in The Fresh Story (KK), a Kota Kinabalu-based distributor of fruits and vegetables, in November 2024. In June 2025, it acquired the assets and business of Hong Yun Vegetables & Fruits SB and D&D Sinma 8888 Univeg Trading. No joint ventures or specific associates are explicitly detailed in the reports.