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The Sun
02-07-2025
- Business
- The Sun
Johor Corp posts strong revenue, earnings growth
KUALA LUMPUR: Johor Corporation (JCorp) and its group of companies announced consolidated financial results for the financial year ended Dec 31, 2024 (FY24), recording revenue of RM6.96 billion, a 12% increase from RM6.2 billion in FY23. In a statement yesterday, JCorp said the performance reflects continued momentum under the JCorp 3.0 Reinvention Plan, which is reshaping the organisation into an impact-led, value-driven Investment Holding Corporation. FY24 saw stronger contributions across key verticals, supported by focused capital allocation, portfolio optimisation, and operating model improvements. Profit before tax rose to RM718 million – exceeding the FY23 results by 19%. This was supported by contributions particularly from the agribusiness and wellness and healthcare divisions, value unlocking through strategic asset disposals, and tighter cost control across the group. KPJ Healthcare Bhd (KPJ) recorded a revenue of RM3.92 billion in FY24, marking a 15% year-on-year growth, driven by continued patient trust in our 'Care for Life' patient-centric approach. Net profit rose to RM407.2 million, underpinned by improved margins, enhanced operational efficiency and prudent financial management. The group's agribusiness vertical, led by Kulim (Malaysia) Bhd (Kulim) through its core investee company JPG, recorded RM1.61 billion in revenue – an 18% increase from the previous year. Plantation operations contributed 95% of segment revenue, while the remaining came from the agrofood division. Net profit from continuing operations stood at RM242.7 million, supported by improved commodity pricing and sustained cost efficiency. The group also recognised a one-off loss of RM129 million from the divestment of its discontinued operation segment, resulting in total net profit of RM113.5 million for FY24. JLand Group achieved a remarkable RM1.3 billion in revenue for the year 2024 – a strong 9% increase compared to the year 2023. This growth was primarily driven by contributions from its property development and integrated community solutions segments. Overall, the group delivered a commendable performance, recording RM205.81 million in profit before tax and RM157.8 million in net profit. These results reflect the group's solid operational execution and effective cost management, underscoring its resilience and strong fundamentals. JLand Group's financial results are on a proforma basis, pending the completion of JLand Group's internal restructuring. QSR Brands (M) Holdings Bhd, operator of KFC and Pizza Hut across Malaysia and the region, recorded RM3.53 billion in total revenue – RM3.23 billion from continuing operations. At the holding level, JCorp recorded RM759 million in revenue and RM634 million in net profit. This included RM425.82 million in dividend income – primarily from Kulim (RM356.42 million) and KPJ (RM64.95 million) and RM223.47 million in proceeds from industrial land sales. The results underscore stronger asset performance and deliberate capital recovery actions taken during the year. As of Dec 31, 2024, JCorp's total Assets Under Management stood at RM24.5 billion. JCorp president and CEO Datuk Syed Mohamed Syed Ibrahim said as they continue to play their role as responsible stewards, their focus remains on building institutions that drive long-term impact. JCorp said it enters FY25 with renewed emphasis on creating value and enabling sustainable communities in line with its commitment to Membina & Membela. This entails scaling AI and digital integration, advancing strategic sectors such as agribusiness and healthcare, and deepening collaboration across the public and private ecosystem. A key priority is to strengthen executional excellence in order to deliver long-term value while reimagining the next phase of growth for Johor and the nation.
New Straits Times
02-07-2025
- Business
- New Straits Times
JCorp posts nearly RM7bil revenue in FY24, eyes stronger value creation
KUALA LUMPUR: Johor Corporation (JCorp), which owns a 45 per cent stake in KPJ Healthcare Bhd, reported a revenue of RM6.96 billion for the financial year ended Dec 31, 2024 (FY24), a 12 per cent increase from RM6.20 billion in FY23. The Johor state investment arm attributed the improved performance to continued progress under its JCorp 3.0 Reinvention Plan, which aims to transform the organisation into a value-focused investment holding company. JCorp said stronger contributions across its key business segments were supported by more targeted capital allocation, portfolio optimisation, and operational improvements. Pre-tax profit rose 19 per cent to RM718 million, bolstered by contributions from the agribusiness and wellness and healthcare divisions, strategic asset disposals, and tighter cost control. In the healthcare segment, KPJ posted revenue of RM3.92 billion in FY24, up 15 per cent year-on-year, driven by sustained demand for its patient-focused services. During the year, KPJ also unveiled a refreshed brand identity and launched Malaysia's first Academic Health System, integrating clinical care, education, and research. The agribusiness division, led by Kulim (Malaysia) Bhd through its core investee company JPG, generated RM1.61 billion in revenue, an 18 per cent increase from the previous year. Plantation operations made up 95 per cent of the total, with the remainder from the agrofood segment. JLand Group, the real estate and infrastructure arm, recorded RM1.30 billion in revenue, up nine per cent, driven mainly by growth in property development and integrated community solutions. Meanwhile, QSR Brands (M) Holdings Bhd, which operates KFC and Pizza Hut in Malaysia and the region, reported total revenue of RM3.53 billion, including RM3.23 billion from continuing operations. As at Dec 31, 2024, JCorp's total assets under management stood at RM24.50 billion. JCorp president and chief executive Datuk Syed Mohamed Syed Ibrahim said FY24 marked a shift in how the group creates value as an investment institution. "We realigned our portfolio, strengthened capital discipline and allowed our investee companies to lead with focus, from JPG's listing to KPJ's rebranding and healthcare initiatives. "Our goal remains to build institutions that deliver long-term impact. Every decision, partnership and investment must contribute to economic resilience and create lasting value for Johor and for Malaysia," he said. Looking ahead, JCorp said it will enter FY25 with a renewed focus on value creation and supporting sustainable communities, in line with its commitment to Membina and Membela. This includes accelerating the use of artificial intelligence and digital tools, strengthening sectors such as agribusiness and healthcare, and deepening collaboration between the public and private sectors.
Malaysian Reserve
22-05-2025
- Business
- Malaysian Reserve
FBM KLCI extends losing streak for 4th straight session
KUALA LUMPUR — The FBM KLCI has extended its decline for a fourth consecutive session on Wednesday, underscoring a deepening risk-off sentiment across Malaysia's equity market, said an analyst. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 4.07 points, or 0.26 per cent, to 1,544.80 from Tuesday's close of 1,548.87. The benchmark index opened 4.07 points higher at 1,552.94 and fluctuated between 1,542.47 and 1,553.84 throughout the trading session. In the broader market, losers thumped gainers 649 to 342, while 464 counters were unchanged, 963 untraded, and seven suspended. Turnover increased to 3.27 billion units worth RM2.16 billion against 2.61 billion units worth RM1.98 billion on Tuesday. UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Mohd Sedek Jantan noted that foreign investors remained net sellers on both Monday and Tuesday, amplifying the sell-off as external macroeconomic and geopolitical headwinds continue to dominate investor positioning. 'Market sentiment remains fragile as global investors weigh persistent political and fiscal uncertainty in the United States,' he told Bernama. Despite resilient domestic fundamentals—evidenced by strong export figures released yesterday—the local market performance remains largely dictated by exogenous variables. Until greater clarity emerges on the US fiscal path and monetary policy trajectory, market volatility is likely to persist, warranting a cautious but opportunistic approach, he added. Among heavyweights, IHH Healthcare added 1.0 sen to RM6.96, CelcomDigi rose 2.0 sen to RM3.90, Hong Leong Bank advanced 10 sen to RM20, Press Metal Aluminium climbed 9.0 sen to RM5.05, MISC was flat at RM7.66, while Maybank, Tenaga Nasional and CIMB all fell 4.0 sen to RM10, RM14.10 and RM7.0, respectively. For active stocks, Harvest Miracle and MYEG perked up half-a-sen each to 18.5 sen and 90 sen, respectively, Tanco increased 1.0 sen to 96.5 sen, Sarawak Cable shed 5.0 sen to 3.0 sen, Inari Amertron slipped 15 sen to RM1.87, and Nationgate went down 4.0 sen to RM1.57. On the index board, the FBM Emas Index shed 41.23 points to 11,525.68, the FBMT 100 Index slid 34.20 points to 11,282.77, the FBM Emas Shariah Index went down 17.23 points to 11,445.65, the FBM 70 Index lost 67.47 points to 16,345.90, and the FBM ACE Index shaved off 27.49 points to 4,626.05. Across sectors, the Financial Services Index tumbled 100.05 points to 18,215.87, the Industrial Products and Services Index eased 1.41 points to 155.05, the Energy Index slipped 1.81 points to 712.96, while the Plantation Index rose by 48.85 points to 7,329.78. The Main Market volume expanded to 1.33 billion units valued at RM1.87 billion from Tuesday's 1.17 billion units valued at RM1.75 billion. Warrants turnover advanced to 1.62 billion units worth RM191.45 million from 1.07 billion units worth RM128.67 million yesterday. The ACE Market volume declined to 327.86 million units worth RM96.64 million from 363.69 million units worth RM102.09 million previously. Consumer products and services counters accounted for 208.40 million shares traded on the Main Market, industrial products and services (281.74 million), construction (110.26 million), technology (190.91 million), SPAC (nil), financial services (69.37 million), property (146.26 million), plantation (17.55 million), REITs (9.50 million), closed/fund (nil), energy (139.13 million), healthcare (37.16 million), telecommunications and media (35.97 million), transportation and logistics (26.06million), utilities (5383 million), and business trusts (300). — BERNAMA
