Life Water buys Sabah's Twinine for RM10.5mil in FMCG expansion
The group has entered into a share sale agreement to acquire 100 per cent equity interest in Twinine via cash. This marks its first major diversification beyond beverages and is expected to contribute positively to group earnings.
Founded over 35 years ago, Twinine has a strong presence in the West Coast of Sabah, parts of Sarawak, and Brunei.
It recorded audited revenue of RM8.6 million in 2022 and 2023, and unaudited revenue of RM8.5 million for 2024, with a three-year average profit after tax of RM910,000.
Managing director Liaw Hen Kong said that with overlapping distribution touchpoints and similar consumer demographics, the group sees significant cross-selling opportunities and operational synergies.
"This acquisition is a natural extension of our FMCG portfolio. Our network gives us the ability to broaden Twinine's reach across Sabah, especially into the East Coast region, further strengthening its market presence," he said in a statement.
Life Water plans to introduce two production shifts at Twinine's facility to boost output in line with demand, and is exploring a new manufacturing site at Kota Kinabalu Industrial Park to support long-term expansion.
Twinine's founder will remain with the company for a two-year transition period.
For the third quarter ended March 31, 2025, Life Water recorded a net profit of RM6.48 million on revenue of RM43.12 million. Cumulatively, the group posted RM20.97 million in net profit and RM128.42 million in revenue for the nine-month period.
There were no year-on-year comparisons provided, as this is the group's third interim financial report following its listing on the Main Market of Bursa Malaysia.
Life Water said its production capacity expanded in early 2025 with the commissioning of its new Keningau plant, adding 59 million litres to its annual output.
This brought total drinking water capacity to 448 million litres per year. Another facility, the Sandakan Sibuga Plant 1, is expected to add 178 million litres by end-2025, raising capacity to 626 million litres — a 40 per cent increase.
The group said it remains optimistic about its growth prospects in the current financial year and beyond, as it continues to pursue both organic expansion and strategic diversification.
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