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F&N profit rises 52 5% YoY in 1H24 despite currency challenges

F&N profit rises 52 5% YoY in 1H24 despite currency challenges
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ROSS Digital secures fresh Series A+ funding, led by F&N, to accelerate growth

Series A+ round was led by leading Southeast Asian Food and Beverage company, Fraser and Neave Limited (F&N), along with Frasers Property and zVentures, the corporate venture arm of Razer Fresh funds to be deployed to accelerate product enhancements, and market expansion to Thailand and Malaysia SINGAPORE, June 16, 2022 /PRNewswire/ ROSS Digital, a Singapore-based firm focusing on Food & Beverage ("F&B") robotics and automation, today announced they have secured fresh Series A+ funding of SGD $4.2 million, led by Southeast Asian F&B company, Fraser and Neave, Limited, with participation from existing investors, Frasers Property and zVentures, the corporate venture arm of Razer. This brings the total raised by ROSS Digital, since its inception in 2017, to SGD $21.2 million. ROSS Digital will use this fresh round of investment to accelerate product enhancements, regional expansion into Thailand and Malaysia, and expanding its team across its offices. Commentin

3 Key Points From Thai Beverage s Latest Earnings Report

Thai Beverage Public Company Ltd (SGX: Y92), or ThaiBev, is the largest beverage manufacturer and distributor in Thailand, and one of the largest in Asia. The company has an extensive product portfolio across various categories, including its wildly-popular Chang Beer. As it stands, the group’s business is still largely dependent on its home market of Thailand despite the acquisitions of Vietnam beer giant  SABECO (HOSE: SAB), and a 28.6% stake in  Fraser and Neave Limited (F&N) (SGX: F99). For its fiscal year 2020 ended 30 September 2020 (FY20), ThaiBev derived 75% of its revenue from its home country of Thailand. In that context, the recent surge of COVID-19 cases in Thailand may be a cause of concern for the group.

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