Latest news with #KimTeckCheongConsolidatedBhd
The Star
a day ago
- Business
- The Star
Sabah poised for major industrial expansion
KTC executive director Lau said the strategic location in KKIP will strengthen logistics infrastructure and streamline supply chain operations. KOTA KINABALU: A new integrated industrial hub will soon rise in the Kota Kinabalu Industrial Park (KKIP), aimed at enhancing logistics, warehousing and distribution capacity in Sabah and the wider East Malaysian region. The development, set on a newly acquired 15-acre site worth RM100mil, is expected to increase operational capacity by 40% and create at least 500 new jobs, with priority given to local hires from underprivileged backgrounds. 'This is part of our commitment to support government efforts in tackling poverty and promoting inclusive economic growth,' said Kim Teck Cheong Consolidated Bhd (KTC) executive director, Datuk Dexter Lau. The upcoming facility, to be known as the KTC Industrial Park, will function as the largest fast-moving consumer goods distribution centre in the region, designed to serve markets in Sabah, Sarawak, Brunei and Indonesia. Lau said the strategic location in KKIP will strengthen logistics infrastructure and streamline supply chain operations, allowing the group to better meet growing market demand. 'Our focus is on long-term growth and operational excellence, and this development marks an important milestone in our five-year expansion plan,' he added. As of June, the company had already recorded over RM1bil in revenue. With the expansion, annual earnings are projected to grow by 50%, reaching up to RM1.6bil. An additional RM10mil investment has also been approved for operations in Sarawak, which Lau said is expected to contribute 10% to overall regional revenue growth, with Sabah expected to add 40% over the next two to three years. Lau added that the company's total workforce is expected to reach 2,000 across Malaysia and Brunei within a year.
The Star
a day ago
- Business
- The Star
Sabah set for major industrial expansion
KOTA KINABALU: A new integrated industrial hub will soon rise in the Kota Kinabalu Industrial Park (KKIP), aimed at enhancing logistics, warehousing and distribution capacity in Sabah and the wider East Malaysian region. The development, located on a newly acquired 15-acre site worth RM100mil, is expected to increase operational capacity by 40% and create at least 500 new jobs, with priority given to local hires from underprivileged backgrounds. 'This is part of our commitment to support government efforts in tackling poverty and promoting inclusive economic growth,' said Kim Teck Cheong Consolidated Bhd (KTC) executive director, Datuk Dexter Lau. The upcoming facility, to be known as the KTC Industrial Park, will function as the largest fast-moving consumer goods (FMCG) distribution centre in the region, designed to serve markets in Sabah, Sarawak, Brunei and Indonesia. Lau said the strategic location in KKIP will strengthen logistics infrastructure and streamline the group's supply chain operations, enabling it to better meet growing market demand. 'Our focus is on long-term growth and operational excellence, and this development marks an important milestone in our five-year expansion plan,' he added. As of June, the company had already recorded over RM1bil in revenue. With the expansion, annual earnings are projected to grow by 50%, reaching up to RM1.6bil. An additional RM10mil investment has also been approved for operations in Sarawak, which Lau said is expected to contribute 10% to overall regional revenue growth, with Sabah expected to add 40% over the next two to three years. Lau added that the company's total workforce is expected to reach 2,000 across Malaysia and Brunei within a year.
The Star
2 days ago
- Business
- The Star
KTC acquires four land plots in Sabah for RM39.6mil
PETALING JAYA: Kim Teck Cheong Consolidated Bhd (KTC) is acquiring four parcels of land totalling approximately 15 acres within the Kota Kinabalu Industrial Park in Sabah from KKIP Sdn Bhd for RM39.59mil. In a filing with Bursa Malaysia, KTC, a provider of market access and coverage of consumer-packaged goods, said the proposed transaction is in line with the company's strategy to strengthen and expand its distribution and logistics capabilities to support future growth. 'The parcels of land identified are strategically located and are intended to be developed into a distribution and warehouse hub to enhance the company's operational efficiency and supply chain management. 'The development of the distribution and warehouse hub will provide the company with greater control over its logistics infrastructure, reduce reliance on third-party facilities and improve cost effectiveness in the long term.' KTC also said the acquisition is expected to support its business expansion plans and improve delivery timelines to customers across the region. The company said the acquisition will be funded by a combination of internally generated funds and bank borrowings 'Barring any unforeseen circumstances, the board is of the view that the proposed transactions will contribute positively to the future earnings and value of the group. 'The transaction is not expected to have any material effect on the earnings and consolidated earnings per share of the company and the group for the financial year ending June 30, 2025.'
New Straits Times
2 days ago
- 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.
The Star
2 days ago
- Business
- The Star
KTC acquires land in Sabah for RM39.6mil
PETALING JAYA: Kim Teck Cheong Consolidated Bhd (KTC) is acquiring four parcels of land totaling approximately 15 acres within the Kota Kinabalu Industrial Park in Sabah from KKIP Sdn Bhd for RM39.59mil. In a filing with Bursa Malaysia, KTC, a provider of market access and coverage of consumer-packaged goods, said the proposed transaction is in line with the company's strategy to strengthen and expand its distribution and logistics capabilities to support future growth. 'The parcels of land identified are strategically located and are intended to be developed into a distribution and warehouse hub to enhance the company's operational efficiency and supply chain management. 'The development of the distribution and warehouse hub will provide the company with greater control over its logistics infrastructure, reduce reliance on third-party facilities and improve cost effectiveness in the long term.' KTC also said the acquisition is expected to support its business expansion plans and improve delivery timelines to customers across the region. The company said the Acquisition will be funded by a combination of internally generated funds and bank borrowings 'Barring any unforeseen circumstances, the Board is of the view that the proposed transactions will contribute positively to the future earnings and value of the group. 'The transaction is not expected to have any material effect on the earnings and consolidated earnings per share of the company and the group for the financial year ending June 30, 2025.'
