#Dairy #Milk #IPO
Loi Tuan Ee of Farm Fresh: The Ethical Entrepreneur
Loi Tuan Ee was 42 years old, married and mortgaged when he decided to leave his cushy corporate job in packaging to start a food-based business in Johor, Malaysia. Sixteen years later, Farm Fresh has become a RM3 billion company with operations in Malaysia and Australia and export markets all over the world.
In this, the third of six special interviews with some of Malaysia’s largest and most successful entrepreneurs in collaboration with CGS-CIMB and Endeavor Malaysia, Khoo Hsu Chuang speaks to Loi about his colourful story and his journey to the top.
(This interview was part of a collaboration between the Do More Podcast, CGS-CIMB and Endeavor Malaysia as part of the 'Thought Inspire' Series, filmed at the Asia School of Business (a partnership between MIT Sloan School of Management and Bank Negara Malaysia)
@asiaschoolofbusinessincoll7881
CONTENTS:
00:00 - Intro
00:58 - Leaving a Highly Paid Job In His 40s to Start Farm Fresh
03:13 - Conquering The Fear
04:19 - Starting With Goats and Fish!
05:46 - Raising Money, Asking Azmi to Join, Khazanah’s Entry
08:03 - The Early Challenges
10:49 - Starting a Consumer Brand Today
13:26 - How Do You Grow Without Raising Prices?
17:47 - Absorbing Inflation For Customers Benefit
20:17 - Expanding Into the Region
21:50 - New Markets in Infant Formula
24:16 - Is Milk Advertising Unethical?
26:30 - Succession and The Challenges of Keeping to the Brand Promise
29:04 - Why Did You Decide to IPO?
30:54 - Expanding Into ASEAN
33:11 - Dealing With Distance, FX
34:29 - The Indonesia and Philippines Markets
36:50 - Ethical Advertising and ESG
40:14 - Labour Shortages
42:19 - Becoming a Dollar Unicorn
44:19 - Life as a Listed Company
47:21 - Skills Sets Sought Out By Big Investors
49:03 - Major Compliance Hurdles?
50:20 - How Important Are the Accountants and Legal Team
51:43 - Three Pieces of Advices for Entrepreneurs
56:29 - Sacrifices ..
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Follow Loi and Farm Fresh here:
URL: https://www.farmfresh.com.my/
Endeavour: https://www.endeavormalaysia.org/people/Loi-Tuan-Ee
LinkedIn: https://tinyurl.com/ycktfuk8
FB: https://www.facebook.com/farmfreshdairyproduce/
IG: https://www.instagram.com/farmfreshmilkmalaysia/
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Follow Chuang here:
URL: http://www.domore.my/
LinkedIn: https://www.linkedin.com/in/hsu-chuang-khoo-ab199343/
FB: https://www.facebook.com/khoo.chuang/
IG: instagram.com/khoohsuchuang/
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Follow DoMore here:
WEBSITE: https://www.domore.my/
YOUTUBE: https://www.youtube.com/c/DoMoreTakeChargeofYourLife
ITUNES: https://apple.co/2lQ47mS
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