F&N says ready to implement sugar tax
Three general directions will be taken by the company to mitigate the impact of the sugar tax, namely having original recipes in smaller pack sizes, reduced sugar recipes, and portfolio transformation by innovation into health product categories, said chief executive officer Lim Yew Hoe April 30 2019. ― AFP pic
He said although it is a big challenge for the company given that 90 per cent of its product portfolios will be impacted by the tax, it is confident of being able to mitigate the impact on most of the affected categories and minimise the impact on the group. “There are still some variants that we are trying out. We will see how much of the cost that we can absorb. Price increases will only be a last resort,” he said in a media briefing on the company’s first-half results here today.
He said the company has invested RM30 million in capital expenditure in its Shah Alam plant to enable multiple new products to be produced from October this year.
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