I will try my luck with FF for a few reasons
1) at current milk prices in Malaysia, still got good margin for growth
2) still not enough milk supply in Malaysia
3) the non dairy segment is yet to be fully explored
4) being in food related business i.e. consumer based demand will always be there (compared to Seng Heng, we can live without electric goods but not food)
5) food security reasons
6) ESG/SDG driven business, this is key for doing business in times to come
7) foreign venture - Indo & Philippines are huge markets but need to thread carefully, challenges are great and many but i trust the management know their stuff
8) not at level of Nestle as yet but got potential to be the Nestle of Malaysia/SEA/Asia in due course
9) a local champion which could be a regional player - lets support Malaysia companies
10) valuation is rich, but i am in for the long term, 25% dividend is not too bad...for a start, hope it can be higher in years to come...like United Plantations
just my 2 cents worth of ramblings...this is not an investment advice, please do your own research and do seek professional advice accordingly.

I already applied for the ipo via maybank. Donno how long it takes to approve.