Cover Edmund Tan and Lim Shiew Li, the founders of Inside Scoop (Photo: Inside Scoop)
Edmund Tan and Lim Shiew Li, the founders of Inside Scoop (Photo: Inside Scoop)
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Get to know the husband-and-wife duo whose ice cream company has caught the eye of Farm Fresh
You’ve likely heard the news—Malaysian dairy company Farm Fresh Bhd has proposed to acquire a 65 per cent stake in Inside Scoop, a homegrown ice cream brand. Known for fresh dairy milk and other dairy-based drinks with no preservatives or flavourings, Farm Fresh currently owns six dairy farms and three processing plants across Malaysia and Australia. According to Maybank Investment Bank, the proposed Inside Scoop acquisition could boost Farm Fresh's net profit by RM3.8 million per annum.
"We like local homegrown brands with passionate founders," said Loi Tuan Ee, the founder of Farm Fresh. "With the merger and acquisiton, this shortened our learning curve, which would otherwise require a few years of starting from scratch, assembling an entire team, doing research and development. What’s more important, it brought along Edmund and Shiew Li."
“We've always admired what the Farm Fresh team has achieved and look forward to tapping into their experience. Furthermore, we are already a user of some of their products, so there's synergy there,” added Lim Shiew Li, one of the founders of Inside Scoop.
With more than 20 outlets across Malaysia, Inside Scoop is a household name, serving scoops of creamy ice cream in multiple local flavours to the Malaysian public since 2013. But founders Edmund Tan and Lim weren’t always in the business of dessert, though. The husband-and-wife duo had careers in finance, with Tan as an investment banker and Lim an actuary. Opening Inside Scoop was due to their shared love of ice cream; in fact, Lim went to study in Gelato University in Italy to shore up her scientific knowledge on making ice creams.
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In 2013, Tan and Lim noticed a gap in the local market, with foreign brands offering only classic ice creams. They decided to play to their strengths, creating hyperlocal flavours, and opening the first Inside Scoop outlet in Bangsar. Today, the brand offers unique and festive ice creams, such as soy sauce, onde-onde and even durian.
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Supporting locals is a major driving force of the brand, with Inside Scoop hiring young Malaysians as part of their team. In an interview with Tatler Malaysia in 2018, Tan said: "We're proud to say that we are one of the few F&B brands that are staffed by 98 per cent by locals. Most of our staff are part-timers that have come out fresh of university."
While Tan is focused on business and operations, Lim carries a passion for developing exciting new flavours.
While there have been questions about how involved Tan and Lim will be in Inside Scoop moving forward, Lim reassures that the duo will be just as involved as before. “Now we have to work harder than ever to deliver results. We remain committed to the business and will continue to lead the team on a day-to-day basis.”
Likewise, Loi expresses enthusiasm about the acquisition. "Inside Scoop is already an established local brand in Malaysia. Beyond F&B outlets, we would like for this ice cream to be enjoyed by Malaysians at large through a consumer packaged format at an affordable price."
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Katelyn is the dining and travel editor of Malaysia and Indonesia. Based in Kuala Lumpur, she offers readers an inside look at the movers and shakers in Asia’s growing food and beverage industry.
