Latest news with #RM1.6
Daily Express
13-06-2025
- Business
- Daily Express
Kim Teck Cheong Consolidated Berhad plans RM100 million Industrial Park
Published on: Friday, June 13, 2025 Published on: Fri, Jun 13, 2025 Text Size: Lau said the strategic investment marks a major milestone in the group's five-year expansion plan and will position KTC as the region's largest FMCG distribution center, serving markets across Sabah, Sarawak, Brunei and Indonesia. Kota Kinabalu: Kim Teck Cheong Consolidated Berhad (KTC), a leading fast-moving consumer goods distributor in East Malaysia, has acquired 15 acres of land worth RM40 million at Kota Kinabalu Industrial Park KKIP to develop its largest integrated operations and manufacturing hub. The KTC Industrial Park represents a total investment of RM100 million and is expected to expand the company's operational capacity by 40 per cent while boosting revenue projections to between RM1.5 billion and RM1.6 billion. Advertisement Executive Director Datuk Dexter Lau said the strategic investment marks a major milestone in the group's five-year expansion plan and will position KTC as the region's largest FMCG distribution center, serving markets across Sabah, Sarawak, Brunei and Indonesia. 'This development will significantly enhance our logistics capabilities and operational efficiency while creating 500 new jobs, with priority given to hiring locals from underprivileged backgrounds,' he said in a statement, here, Wednesday. The Bursa Malaysia main market-listed company has already surpassed RM1 billion in revenue as of June 2025, operating from a current footprint of 500,000 square feet. Construction of the industrial park will commence soon, with the facility expected to strengthen KTC's supply chain ecosystem across East Malaysia. Additionally, KTC's board has approved a RM10 million investment in Sarawak, targeting a combined 50 per cent revenue growth in East Malaysia over the next two to three years. The company aims to reach a workforce of 2,000 employees across Malaysia and Brunei within the year. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
New Straits Times
11-06-2025
- Business
- New Straits Times
KTC buys RM40mil plot in Sabah industrial hub
KOTA KINABALU: Kim Teck Cheong Consolidated Bhd (KTC) has made heads turn with the acquisition of land worth RM40 million here. The six-hectare plot at the Kota Kinabalu Industrial Park (KKIP) will be for the development of KTC Industrial Park, the group's integrated hub for operations, logistics, and manufacturing. KTC executive director Datuk Dexter Lau said move is expected to elevate the company's annual revenue of RM1.5 billion to RM1.6 billion, strengthening it's position a leading fast-moving consumer goods (FMCG) distributor in East Malaysia. "This strategic investment also marks a major milestone in the group's long-term growth strategy and is expected to support its expansion plans for the next five years," Lau said of the land in the heart of the industrial zone. The development is expected to improve operational efficiency, streamline supply chain capabilities, and further strengthen KTC's presence in both existing and new markets across Malaysia, he added. "The KTC Industrial Park is also set to become one of the largest FMCG distribution centers in the region, designed to efficiently serve markets in Sabah, Sarawak, Brunei, and Indonesia. "This investment is a strategic move that puts us on the path of sustainable growth and provides the space and infrastructure needed to meet growing demand while serving our business partners more effectively," he said, when announcing the acquisition here. Lau also said that KTC had surpassed RM1 billion in revenue as of June this year and continues to be on a strong growth trajectory. He added that KTC's total operational footprint currently covers 500,000 square feet. "We will commence construction of the KTC Industrial Park in KKIP as soon as possible, with a total investment of RM100 million. "The industrial park is expected to generate 500 new jobs, and we will prioritise hiring locals from underprivileged backgrounds to support the government's efforts in eradicating poverty," he said.
Daily Express
11-06-2025
- Business
- Daily Express
KTC to build RM100 million industrial park at KKIP
Published on: Wednesday, June 11, 2025 Published on: Wed, Jun 11, 2025 Text Size: KOTA KINABALU: Kim Teck Cheong Consolidated Berhad (KTC) has acquired RM40 million worth of land at Kota Kinabalu Industrial Park to develop its largest integrated operations, logistics, and manufacturing hub. The KTC Industrial Park will expand the company's operational base by 40 per cent and is projected to boost annual revenue to between RM1.5 billion and RM1.6 billion. Advertisement KTC Executive Director Datuk Dexter Lau (pic) said the development will enhance warehousing, transportation, and supply chain infrastructure to serve markets in Sabah, Sarawak, Brunei, and Indonesia. Construction of the RM100 million project will begin soon, with 500 new jobs expected, prioritising employment for locals from underprivileged backgrounds. Lau also announced a RM10 million investment in Sarawak and confirmed KTC has surpassed RM1 billion in revenue, aiming to grow its East Malaysia business by 50 per cent in the next three years. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
Borneo Post
11-06-2025
- Business
- Borneo Post
KTC acquires RM40 million land at KKIP to develop largest integrated hub
Dexter Lau KOTA KINABALU (June 11): Kim Teck Cheong Consolidated Berhad (KTC), a leading fast-moving consumer goods distributor in East Malaysia, has successful acquired land valued at RM40 million at Kota Kinabalu Industrial Park (KKIP) for the development of KTC Industrial Park, the Group's largest integrated hub for operations, logistics and manufacturing. The latest investment is poised to expand KTC's existing operational base by 40 percent, while revenue is expected to surge by extra 50 percent. This strategic move will drive the KTC's annual turnover to the tune of RM1.5 billion to RM1.6 billion, further solidifying its position as a leading company in Sabah, East Malaysia and Borneo Island. KTC Executive Director Datuk Dexter Lau said this strategic investment marks a significant milestone in the group's long-term growth strategy and is set to support its expansions over the next five years. The newly acquired land is situated in a high-growth industrial zone and will serve as the foundation for KTC's future developments in warehousing, logistics infrastructure, transportation fleet, and operational facilities. This expansion is expected to enhance operational efficiency, streamline supply chain capabilities, and further strengthen the Group's presence in both existing and new markets across Malaysia. The KTC Industrial Park is set to become one of the largest FMCG distribution centres in the region, designed to efficiently serve markets across Sabah, Sarawak, Brunei and Indonesia. 'This investment is a strategic move that position us for sustainable growth. As we continue to upscale our operations, this land will provide the space and infrastructure needed to meet growing demand to serve our business partners effectively,' said Lau. He emphasized that the acquisition is aligned with KTC's mission to build long-term value through operational excellence and strategic foresight. The new KTC Industrial Park will significantly enhance the Group's logistics capabilities, enabling it to meet the increasing demand for FMCG products across multiple regions. 'This development not only reflects our commitment to operational excellence and regional economic growth, but is also expected to create job opportunities and drive the expansion of a broader supply chain ecosystem in East Malaysia and surrounding regions.' Lau also revealed KTC has already surpassed RM1 billion in revenue as of June this year, and is continuing on a strong growth trajectory. He shared that KTC's total operational area currently spans 500,000 square feet. With the development of the KTC Industrial Park on the newly acquired 15-acre land in KKIP, the Group's operational base will increase significantly by 40 percent, while its revenue is projected to grow to RM1.5 billion to RM1.6 billion. 'We will begin construction of the KTC Industrial Park in KKIP as soon as possible, with a total investment of RM100 million. 'The industrial park is expected to create 500 new jobs. We will prioritize on hiring locals from disadvantaged backgrounds to support the government's poverty eradication efforts.' Lau also disclosed that the KTC Board of Directors has approved an additional RM10 million investments in Sarawak in the same period. As a result, KTC's revenue is expected to grow by an overall of 50 per cent in East Malaysia – 40 percent in Sabah and 10 percent in Sarawak – over the next two to three years. As a Main Market listed company on Bursa Malaysia, KTC currently has a workforce of 2,000 across Sabah, Sarawak, Brunei and Peninsular Malaysia, and remains one of the leading companies in Sabah.
The Sun
05-06-2025
- Business
- The Sun
Paramount aims to maintain momentum after record high sales of RM1.4b in FY24
KUALA LUMPUR: Paramount Corporation Bhd is poised to build on the momentum of record high property sales amounting to RM1.4 billion in 2024, a 24% increase compared to 2023, for the current financial year. Group CEO and director Jeffrey Chew Sun Teong said the milestone of achieving the highest annual sales in its history underlines strong market demand and the company's effective project pipeline. In addition to the record-breaking achievement, Paramount's unbilled sales rose by 12% to RM1.6 billion, providing healthy earnings visibility moving forward. 'While the overall take-up rate was not exceptionally high, the company views this as a natural result of its large number of project launches in 2024. The company remains unfazed, noting that developments with longer sales periods are expected to register lower take-up rates initially, especially when launched at scale,' Chew told reporters after the Paramount's annual general meeting today. Moving forward, Paramount is expected to sustain its growth trajectory into 2025, supported by a robust pipeline of ongoing projects stemming from a record RM2.2 billion worth of property launches in 2024. 'This marked the highest launch value in the company's history, with many of the developments continuing to drive sales into the current year. The launches were well diversified, with 72% comprising high-rise units, 27% landed properties and the remaining 1% commercial. 'Spread across multiple locations, the breadth of projects reflects Paramount's strategic focus on maintaining a balanced portfolio, both in terms of product mix and geographical distribution, helping to ensure resilience amid varying market conditions,' Chew said. Paramount achieved revenue of RM1 billion in FY24, a 3% increase from FY23. The group's profit before tax (PBT) rose by 20% to RM156.9 million compared to RM130.2 million in FY23 on the back of sustained revenue from the property segment and dividend income from its investment in another property developer. Profit attributable to ordinary equity holders grew 24% to RM102.4 million from RM82.8 million in FY23. In FY24, the property segment achieved a record high PBT of RM145 million, contributing 92.4% of the group's total PBT, supported by revenue of RM965.3 million. The investment and other segments saw strong improvements, largely driven by the group's stake in Eco World International Bhd (EWI). The coworking segment reported an 80% jump in revenue to RM23.5 million (including RM5.2 million in intersegment revenue). However, PBT declined to RM700,000 from RM2 million achieved in FY23, primarily due to the absence of a one-off impairment reversal that was recognised in FY23. As of Dec 31, 2024, total assets stood at RM3.1 billion, up from RM3 billion a year earlier. Total liabilities rose to RM1.6 billion from RM1.3 billion. Chew said, 'Paramount's gearing level rose slightly in 2024, mainly due to higher borrowings and financing related to its investment in EWI. The company also refinanced its perpetual debt during the year, contributing to the increase. 'Gearing level is currently higher due to the structure of its financial instruments and recent refinancing activities. Despite this, the company has maintained a consistent dividend payout track record, distributing at least 38% of its profits annually over the past decade. 'In total, shareholders have received approximately RM1.15 in dividends over 10 years, exceeding the company's current share price of under RM1.10.' With RM2.2 billion worth of launches in 2024, Paramount's portfolio remains well diversified, comprising 72% high-rise developments, 27% landed properties and 1% commercial projects. This broad spread across product types and locations provides resilience against unforeseen challenges. The company believes this balanced approach will help sustain overall performance throughout the year, even if individual projects face temporary setbacks.
