Latest news with #RM8.5
Daily Express
4 days ago
- Business
- Daily Express
KTI records RM175 million revenue last year
Published on: Friday, May 30, 2025 Published on: Fri, May 30, 2025 By: Larry Ralon Text Size: (From left) Wilson Loke (Group Executive Director), Stella Loke (Group Executive Director), Datuk Tan Kok Liang (Indipendent Non-Executive Director), Dato' Hj Hamzah bin Haji Ghazalli (Independent Non-Executive Chairman), Datuk Dr Gordon Loke (Group Managing Director/CEO), Chua Chai Hua (Independent Non-Executive Director), Lim Guik Moi (Independent Non-Executive Director), Harjeet Singh (Chief Financial Officer), and Azlan Khalid (Chief Operating Officer). Kota Kinabalu: Sabah-based property developer KTI Landmark Berhad (KTI:0308) registered a profit after tax of RM8.5 million for the financial year ended 31 December 2024 (FY2024), as it marked a key milestone with its first 2025 Annual General Meeting (AGM) since listing on the ACE Market of Bursa Malaysia in June last year. The KTI Landmark Berhad reported RM175.4 million in revenue for FY2024, supported by total sales of RM267.8 million and unbilled sales amounting to RM294.4 million. Despite incurring RM1.96 million in listing-related expenses, the company delivered a stable bottom line, highlighting the resilience of its core operations and the strength of its development pipeline. As of year-end, KTI's outstanding order book stood at RM214 million, with a total gross development value (GDV) of RM2.73 billion, including hospitality and retail assets. Addressing shareholders during 2025 AGM at Hilton Kota Kinabalu here, Thursday, KTI Group Chairman Dato' Haji Hamzah Ghazalli reflected on the company's evolution from a local construction firm founded in 1984 to one of Sabah's most recognised developers. 'Our IPO was not just about raising capital. It represented a new chapter of governance, visibility and investor confidence,' he said. He highlighted recent key developments such as Ayuria Place, a residential project built using environmentally friendly Industrialised Building Systems (IBS) and The Logg in Luyang, a mixed-urban development that combines residential, retail, and commercial offerings. Advertisement KTI Landmark Berhad's operations in FY2024 saw the launch and progress of several residential and commercial projects, particularly in growth corridors like Kota Kinabalu and Sandakan. These efforts reflect the company's strategic focus on sustainable, integrated and affordable housing solutions for Sabahans. With urbanisation and demographic trends driving demand, KTI continues to work with government-linked entities such as Lembaga Pembangunan Perumahan Dan Bandar (LPPB) and national affordable housing programmes like Perumahan Penjawat Awam Malaysia (PPAM) to meet the state's housing needs. The company's annual report also noted a strong rebound in Malaysia's construction sector in 2024, led by public infrastructure and housing initiatives. With national data showing double-digit growth in the sector, KTI is positioning itself to benefit from these tailwinds by embedding sustainability and digital innovation in its operations. This includes the use of green construction methods, smart home features, and digital sales platforms aimed at younger, tech-savvy buyers. KTI Landmark Berhad's shares closed at RM0.410 on Tuesday, giving the company a market capitalisation of approximately RM328 million. Since listing, the company has seen steady investor interest, underpinned by confidence in its long-term strategic direction and alignment with government housing policies. Looking ahead, KTI plans to continue expanding its landbank in urbanising areas across Sabah, diversify its partnerships to enhance margins, and reinforce its ESG (Environmental, Social and Governance) leadership. These steps are part of its broader strategy to deliver value for stakeholders while shaping the property landscape of Sabah. 'To our employees, shareholders and partners, thank you for your trust. We remain committed to creating a sustainable, prosperous future for Sabah and beyond,' said Hamzah. Founded in 1984, KTI Landmark Berhad is a Sabah-based property developer specialising in integrated and affordable housing. The Group was listed on the ACE Market of Bursa Malaysia in June 2024. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
The Sun
5 days ago
- Business
- The Sun
Life Water diversifies beyond beverages with acquisition of sauce and condiment maker Twinine
PETALING JAYA: Life Water Bhd, a Sabah-based beverage manufacturer, has signed an agreement to acquire 100% equity interest in Twinine Sdn Bhd, a well-established sauce and condiment manufacturer, for RM10.5 million. The acquisition marks Life Water's first major diversification beyond beverages, strengthening its footprint in the broader fast-moving consumer goods (FMCG) sector. Founded over 35 years ago, Twinine has established a strong presence on the west coast of Sabah, part of Sarawak and in Brunei, with a consistent financial track record. The company recorded revenues of RM8.6 million in both FY22 and FY23, as well as an unaudited revenue of RM8.5 million in FY24, alongside a three-year average net profit of RM910,000. The strategic move enables Life Water to leverage its existing logistics and distribution network, thereby accelerating market penetration for Twinine's products. 'This acquisition is a natural extension of our FMCG portfolio. With overlapping distribution touchpoints and similar consumer demographics, we see significant cross-selling opportunities and operating synergies. More importantly, our network gives us the ability to broaden Twinine's reach across Sabah, especially into the east coast region, further strengthening its market presence,' Life Water managing director Liaw Hen Kong said in a statement. Growth plans include introducing two production shifts at Twinine's facility to boost output in line with demand, as well as exploring a new manufacturing site at Kota Kinabalu Industrial Park to support long-term expansion in East Malaysia. Twinine's founder will remain with the company for a two-year transition period to ensure continuity and provide guidance on growth strategies, including the development of the new facility. The acquisition is expected to contribute positively to Life Water's earnings. The acquisition coincides with the release of Life Water's third-quarter ended March 31, 2025 (Q3'25), in which it reported a net profit of RM6.48 million. The group recorded RM43.12 million in revenue, a 0.95% increase from the preceding quarter, supported by seasonal demand for carbonated and fruit drinks. The drinking water segment remained the largest contributor, accounting for 82.6% of total revenue. Life Water posted a gross profit of RM19.52 million, with a margin of 45.3%, while profit before tax stood at RM8.11 million, reflecting a margin of 18.8%. While margins moderated quarter-on-quarter due to the implementation of the minimum wage policy and temporary operational inefficiencies from expansion initiatives, the group remains confident in its long-term earnings resilience. For the nine months, Life Water reported revenue of RM128.42 million and a net profit of RM20.97 million, translating to a 16.3% margin. The group's new Keningau plant commenced operations in early 2025, adding 59 million litres of annual production capacity and bringing total drinking water capacity to 448 million litres per annum. The Sandakan Sibuga Plant 1 is commissioning a new manufacturing line, expected to begin operations in the second half of 2025, which will add 178 million litres of capacity and increase total annual production to 626 million litres, representing a 40% increase. Life Water continues to pursue a two-pronged strategy of organic expansion and strategic diversification. With the Twinine acquisition, Life Water is now well positioned to capture synergies across multiple FMCG segments, while reinforcing its core strength in beverage manufacturing. As Sabah's consumer landscape continues to evolve, Life Water remains optimistic about its growth trajectory in the current financial year and beyond.
Daily Express
6 days ago
- Business
- Daily Express
KTI Landmark posts RM8.5 mil profit in FY2024, holds first AGM since IPO
Published on: Thursday, May 29, 2025 Published on: Thu, May 29, 2025 By: Larry Ralon Text Size: Hamzah (middle) talking to the media after the AGM. KOTA KINABALU: Sabah-based property developer KTI Landmark Berhad (KTI:0308) reported a profit after tax of RM8.5 million for the financial year ended 31 December 2024, alongside RM175.4 million in revenue, marking a key milestone with its first AGM since listing on the ACE Market in June 2024. The Group recorded RM267.8 million in total sales and RM294.4 million in unbilled sales, maintaining a solid performance despite RM1.96 million in listing-related expenses. As of year-end, its outstanding order book stood at RM214 million with a total GDV of RM2.73 billion. Chairman Dato' Haji Hamzah Ghazalli highlighted KTI's transformation since its 1984 founding, recent eco-friendly projects like Ayuria Place and The Logg in Luyang, and strategic partnerships with LPPB and PPAM to meet housing demand in Sabah. KTI is leveraging Malaysia's construction sector rebound, driven by public infrastructure and housing, by integrating sustainability, green building methods, and digital innovation into its developments. With shares closing at RM0.410 and a market cap of RM328 million, KTI aims to expand its landbank, diversify partnerships, and strengthen its ESG leadership as part of its long-term strategy to shape Sabah's property landscape. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
New Straits Times
6 days ago
- Business
- New Straits Times
Life Water buys Sabah's Twinine for RM10.5mil in FMCG expansion
KUALA LUMPUR: Beverage manufacturer Life Water Bhd is acquiring Sabah-based sauces and condiments maker Twinnie Sdn Bhd for RM10.5 million, as it seeks to expand its portfolio in the fast-moving consumer goods (FMCG) sector. 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.
New Straits Times
7 days ago
- Business
- New Straits Times
Petros to award offshore CCUS contracts by Q2
KUCHING: Petroleum Sarawak Bhd (Petros) plans to award contracts to the successful bidders of three offshore sites for carbon capture, utilisation and storage (CCUS) by the second quarter of this year. Deputy Premier Datuk Amar Awang Tengah Ali Hasan said Petros is currently finalising the agreements with the successful bidders for the offshore storage sites. "Petros, as the appointed resource manager, launched the Sarawak Bid Round 2024, offering three offshore storage sites with significant geological potential," Awang Tengah, who is also the state international trade, industry and investment minister, said in his winding-up speech in the State Legislative Assembly here today. He said Petros, together with investors, has committed over RM100 million to assess Sarawak's carbon storage potential and build a comprehensive database. "These efforts will create a globally competitive carbon storage portfolio, fortifying Sarawak's expertise, investment appeal and sustainable low-carbon economic growth," he said. He said Sarawak is poised to lead regional CCUS efforts, leveraging over 65 per cent of Malaysia's geological carbon storage potential. He said Sarawak is at the forefront of national and regional decarbonisation efforts, driving sustainable solutions and enhancing its pivotal role in the global low-carbon economy. Awang Tengah also said that Petros has expanded its upstream operations with 21 production sharing contracts, including 12 exploration projects and equity in five producing fields, achieving 100,000 barrels of oil equivalent per day. "The SK433 Adong Kecil West site in Miri will produce its first onshore oil next year," he said. Awang Tengah said the state oil company has committed RM8.5 billion in capital expenditure over the next three years for infrastructure development and resource commercialisation. He said that by 2030, the Sarawak Gas Roadmap (SGR) is expected to attract RM60 billion in investments and contribute significantly to Sarawak's economy. He said the initiatives reinforce Sarawak's leadership in sustainable energy, driving economic growth while advancing global decarbonisation efforts.
