Latest news with #SyedMohamedSyedIbrahim
The Star
02-07-2025
- Business
- The Star
JCorp sees strong revenue and profit growth in FY24
Johor Corporation president and chief executive Datuk Syed Mohamed Syed Ibrahim KUALA LUMPUR: Johor Corporation (JCorp) reported a 12% rise in revenue to RM6.96bil for the financial year ended Dec 31, 2024 (FY24), up from RM6.2bil in FY23. In a statement, JCorp said its profit before tax rose 19% to RM718mil, driven by strong performances in the agribusiness and wellness and healthcare divisions, strategic asset disposals, and tighter cost controls. The group said the stronger results reflect ongoing momentum from the JCorp 3.0 Reinvention Plan, which is transforming the organisation into an impact-led, value-driven investment holding company. It noted that FY24 saw improved contributions across key sectors, supported by targeted capital allocation, portfolio optimisation, and enhancements to the operating model. In FY24, several of JCorp's investee companies reached key milestones. Johor Plantations Group Bhd (JPG) was listed on Bursa Malaysia, enabling reinvestment and unlocking long-term value. KPJ Healthcare Bhd (KPJ) launched Malaysia's first Academic Health System, refreshed its brand, and announced a collaboration with Mayo Clinic to expand its global reach. 'FY24 marked a step-change in how JCorp delivers value as an investment institution. We realigned our portfolio, strengthened capital discipline, and created room for our investee companies to lead with clarity — from listing JPG to KPJ's rebranding and healthcare innovation,' president and chief executive Datuk Syed Mohamed Syed Ibrahim said. 'As we continue to play our role as responsible stewards, our focus remains on building institutions that drive long-term impact. Every decision, every partnership and every investment must contribute to economic resilience and create value that lasts — for Johor and for Malaysia.' In FY24, KPJ recorded a revenue of RM3.92bil in FY24, marking a 15% year-on-year (YoY) growth. KPJ recorded revenue of RM3.92bil in FY24, a 15% increase year-on-year, driven by strong patient trust in its 'Care for Life' approach. Its net profit rose to RM407.2mil, supported by improved margins, better operational efficiency, and prudent financial management. JCorp's agribusiness vertical, led by Kulim (Malaysia) Bhd through its core investee JPG, recorded revenue of RM1.61bil in FY24. This represents an 18% increase compared to the previous year, driven by strong operational performance and favourable market conditions. Net profit from continuing operations stood at RM242.7mil, supported by improved commodity pricing and sustained cost efficiency. It also recognised a one-off loss of RM129mil from the divestment of its discontinued operation segment, resulting in total net profit of RM113.5mil for FY24. Meanwhile, JLand Group posted RM1.30bil in revenue for 2024, up 9% from 2023, driven by strong contributions from property development and integrated community solutions. It recorded RM205.81mil in profit before tax and RM157.8mil in net profit, reflecting solid operations and effective cost management. QSR Brands (M) Holdings Bhd, operator of KFC and Pizza Hut in Malaysia and the region, recorded total revenue of RM3.53bil, with RM3.23bil coming from continuing operations. At the holding level, JCorp recorded RM759mil in revenue and RM634mil in net profit. This included RM425.82mil in dividend income — primarily from Kulim (RM356.42mil) and KPJ (RM64.95mil) and RM223.47mil in proceeds from industrial land sales. As of Dec 31, 2024, JCorp's total assets under management (AUM) stood at RM24.50bil.
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.
The Sun
01-06-2025
- Business
- The Sun
Johor's healthcare strength a foundation of future regional innovation hub -- JCorp
JOHOR BAHRU: Johor Corporation (JCorp) sees Johor's healthcare strength as the foundation of a future regional innovation hub, serving ASEAN's rising demand for clinical excellence and skilled medical talent. President and chief executive Datuk Syed Mohamed Syed Ibrahim said Johor has the assets and institutional depth to strengthen its position in healthcare, and JCorp's role is to mobilise these strengths in a way that drives quality and reach. He said KPJ HealthCare Bhd, the healthcare arm of JCorp, is developing Malaysia's first Academic Health System, integrating clinical care, education and research. 'This is anchored by three pillars, namely via KPJ hospitals, KPJ Healthcare University (KPJU) and KPJ Research and Innovation Centre. 'It is designed to deliver a gold standard in healthcare by incorporating global best practices in medical treatment, training and innovation,' he told Bernama in an interview recently. He said KPJU, in particular, is a key platform for developing medical, nursing and allied health professionals who are regionally competent and globally aligned. 'Furthermore, our collaboration with the Mayo Clinic Care Network and the development of centres of excellence in oncology, cardiology, orthopaedics, and robotic surgery will augment JCorp's strategy in positioning not only Johor but also Malaysia as an international healthcare hub,' he said. Meanwhile, Syed Mohamed said JCorp could also collaborate with investment fund such as Kumpulan Wang Persaraan (Diperbadankan), Khazanah Nasional Bhd or Singapore's Temasek Holdings Ltd to co-fund strategic infrastructure projects. 'We are actively developing investment pathways that align with the priorities of long-term institutional capital. 'Strategic infrastructure succeeds when it is built on shared governance, long-term risk clarity and measurable outcomes,' he said. He said JCorp is shaping co-investment platforms that enable capital to scale across catalytic zones such as Ibrahim Technopolis (IBTEC) and logistics corridors linked to the Johor-Singapore Special Economic Zone (JS-SEZ). 'These platforms are structured to deliver clear returns, environmental, social and governance (ESG)-aligned performance and economic spillover for Johor. 'Our engagement with institutional partners is guided by outcome alignment. We prioritise partners who bring capital stewardship, sectoral insight and the ability to co-design infrastructure that meets regional demand across energy, digital and logistics,' he added.
The Sun
01-06-2025
- Business
- The Sun
JCorp: Johor's healthcare strength as the foundation of a future regional innovation hub
JOHOR BAHRU: Johor Corporation (JCorp) sees Johor's healthcare strength as the foundation of a future regional innovation hub, serving ASEAN's rising demand for clinical excellence and skilled medical talent. President and chief executive Datuk Syed Mohamed Syed Ibrahim said Johor has the assets and institutional depth to strengthen its position in healthcare, and JCorp's role is to mobilise these strengths in a way that drives quality and reach. He said KPJ HealthCare Bhd, the healthcare arm of JCorp, is developing Malaysia's first Academic Health System, integrating clinical care, education and research. 'This is anchored by three pillars, namely via KPJ hospitals, KPJ Healthcare University (KPJU) and KPJ Research and Innovation Centre. 'It is designed to deliver a gold standard in healthcare by incorporating global best practices in medical treatment, training and innovation,' he told Bernama in an interview recently. He said KPJU, in particular, is a key platform for developing medical, nursing and allied health professionals who are regionally competent and globally aligned. 'Furthermore, our collaboration with the Mayo Clinic Care Network and the development of centres of excellence in oncology, cardiology, orthopaedics, and robotic surgery will augment JCorp's strategy in positioning not only Johor but also Malaysia as an international healthcare hub,' he said. Meanwhile, Syed Mohamed said JCorp could also collaborate with investment fund such as Kumpulan Wang Persaraan (Diperbadankan), Khazanah Nasional Bhd or Singapore's Temasek Holdings Ltd to co-fund strategic infrastructure projects. 'We are actively developing investment pathways that align with the priorities of long-term institutional capital. 'Strategic infrastructure succeeds when it is built on shared governance, long-term risk clarity and measurable outcomes,' he said. He said JCorp is shaping co-investment platforms that enable capital to scale across catalytic zones such as Ibrahim Technopolis (IBTEC) and logistics corridors linked to the Johor-Singapore Special Economic Zone (JS-SEZ). 'These platforms are structured to deliver clear returns, environmental, social and governance (ESG)-aligned performance and economic spillover for Johor. 'Our engagement with institutional partners is guided by outcome alignment. We prioritise partners who bring capital stewardship, sectoral insight and the ability to co-design infrastructure that meets regional demand across energy, digital and logistics,' he added.
Barnama
30-05-2025
- Business
- Barnama
JCorp Focuses On Empowering Bumiputera Entrepreneurs To Compete Within Regional Supply Chains
REGION - SOUTHERN > NEWS By Mohd Khairi Idham Amran JOHOR BAHRU, May 30 (Bernama) -- Johor Corporation (JCorp) is focused on empowering Bumiputera entrepreneurs to compete within regional supply chains linked to the Johor-Singapore Special Economic Zone (JS-SEZ). Its president and chief executive, Datuk Syed Mohamed Syed Ibrahim, said the state government-owned company provides support to Bumiputera entrepreneurs through initiatives ranging from enterprise upskilling at the Johor Skills Development Centre (Johor Skills) to procurement readiness, sectoral certification and financing support through collaborations with Tabung Ekonomi Kumpulan Usaha Niaga (TEKUN), SME Corp and Majlis Amanah Rakyat (MARA). bootstrap slideshow He emphasised that these are not standalone programmes but part of a deliberate strategy to integrate Bumiputera SMEs into high-growth sectors such as logistics, digital services, and agri-food. 'Inclusion without capability leads to dependency. We're building businesses that can stand, scale and stay relevant in tomorrow's economy,' he told Bernama in an interview recently. Syed Mohamed said JCorp is also working with partners to create industry mentorship pathways and market access platforms to ensure long-term business viability, not just short-term participation. Additionally, he said JCorp has also been planning for areas outside of JS-SEZ and the primary economic corridor to benefit from the economic development. 'We are doing so by planning from the outset for spillover, not sprawl. We plan intentionally for balanced growth, ensuring development reaches areas beyond primary corridors. 'Balanced growth requires intentional design. We don't wait for the market to trickle as we seed development where it's needed most,' he said.
