Latest news with #JCorp3.0ReinventionPlan
The Sun
5 days ago
- 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.
The Star
5 days ago
- 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
5 days ago
- 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.
