I think initially Khazanah invested into FF via Commerce Asset Ventures (CAV) way back pre 2002 before having direct interest in FF thereafter, i guess it is about time for them to cash out after having invested for the longest time.

For food security reason and their good sustainability/ESG practices i do feel FF di have good potential.

Sorry for the late respond. Anyways, this is just my 2 cents opinion (not an investment advice), please read FF draft prospectus (available at SC's website) and/or seek professional advice and do your own assessment.

Industry/market overview
1) Fresh milk supply in Malaysia is still not enough (also shortage for other countries in the region)
2) Our milk pricing is one of the highest in the world due to 1) above
3) due to 1) and 2) above, new players like Felda and a few foreign players are looking to or have started to invest into dairy farm in Malaysia

FF's strength
1) really fresh milk from local farm in the country, their commitment of delivery from farm to market within 48 hours is commendable as compared to imported "fresh" milk
2) they have their own delivery system/logistics consisting of retailers and agents (including small players like housewives, single parents, etc.)
3) still expanding by opening new farms near Taiping and yet to expand overseas
4) strong market share in Malaysia and still growing
5) currently profitable with potential for dividends going forward
6) FF have their own hybrid dairy cows (suited for local weather) and they owned a cow genetic company in Australia
7) yet to fully diversify their portfolio of offerings/products

Demand for FF shares
1) those investors which like to have sustainability related shares would look out for companies like FF (please read FF's write up on sustainability in their prospectus)
2) major local funds would take up FF shares since there not many (or even non existent listed local dairy farm)
3) being in agri and food business coupled with focus on food security, this makes FF shares strategic in nature

Challenges for FF
1) since milk is not enough here and pricing is good, many new entrant will come in and compete
2) cost of feed is not within their control totally, still need to import
3) manpower, not enough capable dairy farmer around cause it is hard work and need to be passionate with the work

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.

wait & see lor...small retailers like me dunno how many shares can get...don't have deep pockets to apply that many anyways

Heard from the grapevines that Creador is ready to mopped up the secondary market for FF shares….rumour la…