Farm Fresh products are certainly on another level and this local dairy company has come a long way from their humble bazaar origins.
On 28 February, the COO and co-founder of Farm Fresh, Azmi Zainal has shared that the company will be having an IPO before they get listed on Bursa Malaysia.
According to Investopedia, an IPO (initial public offering) is “the process of offering shares of a private corporation to the public in a new stock issuance”.
Simply put, it is the first time a company offers its shares of capital stock to the general public.
The IPO price is set at RM1.35 per share and it is available from 28 February till 5pm on 8 March. The company will be listed in Bursa Malaysia’s Market on 22 March.
It is certainly great to see that the local dairy company is doing great but this success is not overnight work as the co-founders had to struggle to get to where they are now.
Loi Tuan Ee the CEO of Farm Fresh started the company in 2007 with the help of his trusty old friend, Azmi Zainal, who shared their story back in 2019.
They started off with a small plot of land in Johor with 60 cows and they had to buy milk from breeders.
As no lorry would want to help deliver their small amount of goods (about 10 to 20 boxes), they had to take the express buses to KL to deliver the goods themselves.
Before collaborating with supermarkets, they were supplying the milk to small sundry shops. Mr Azmi even went to sell the dairy products at farmer’s markets and night markets.
It was truly a tough time and they were struggling as they had to deal with the criticism as well.
Their competitors told the supermarkets that they wouldn’t be able to make it.
“Just let them be, they are a small company. We don’t have to disturb them as they’ll die on their own.”
They were even looked down on when they were looking for promoters.
“Can you really pay me? You are only wearing slippers.”
With all that they have faced, the two of them have vowed to never forget their roots. And look at them now!
This is certainly a very inspiring story of a never-ending effort. We hope that this will serve as inspiration to the other hustlers out there.
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