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The Sun
29-05-2025
- 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.
New Straits Times
29-05-2025
- 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.
The Star
28-05-2025
- Business
- The Star
Sedania returns to the black in 3Q on all-time high revenue of RM22.57bil
Sedania Innovator managing director and founder Datuk Azrin Mohd Noor KUALA LUMPUR: Sedania Innovator Bhd is focusing on its sustainable FMCG and sustainable consumer technology segments to close the gap towards achieving its full-year financial targets. The group swung to the black in its third financial quarter ended March 31, 2025, with a net profit of RM135,000. This compares to a net loss of RM2.7mil in the year-ago quarter. It posted its highest-ever quarterly revenue of RM22.57mil compared to RM14.71mil in the previous corresponding quarter. Over the nine months period, Sedania's net loss widened to RM910,000 from a net loss of RM546,000 in 9MFY24. Revenue rose to RM60.23mil in 9MFY25 from RM40.31mil over the same period in the previous year. "We are entering an inflection point in our growth journey,' said Sedania managing director and founder of Datuk Azrin Mohd Noor in a statement. 'This quarter's performance reflects not just tactical execution, but the deep-rooted trust we are building with conscious consumers across the globe. "It reaffirms that our decision to prioritise our key revenue driver, our sustainable FMCG arm — with sustainability, wellness and focused brand-building efforts at the core — is resonating well with the market.'
New Straits Times
05-05-2025
- New Straits Times
GOF seizes smuggled plants worth RM910,000 in Rantau Panjang
Previous Next KOTA BARU: The Southeast Brigade of the General Operations Force (PGA) seized 4,000 fruit plants and 1,600 flowering plants worth an estimated RM910,000 during an operation in Rantau Panjang yesterday. Its commander Datuk Nik Ros Azhan Nik Ab Hamid said the discovery was made when a lorry was stopped at the Serongga Checkpoint at around 7.30pm under Op Taring Wawasan. "Inspection of the lorry revealed thousands of fruit and flowering plants. "The 34-year-old driver failed to present any valid documentation for the items," he said in a statement today. He said the plants are believed to have been smuggled from Thailand and are suspected of carrying harmful pests and diseases. The suspect and seized items were handed over to the Kelantan Agriculture Department for further action. Later the same night, PGA personnel stopped another lorry along the Rantau Panjang-Kampung Kedap road at around 9pm and seized 1,000 fruit plants and 2,650 ornamental flowers worth RM565,000. "The second driver, aged 44, also failed to produce relevant documents. These plants are likewise believed to have been smuggled from Thailand and pose similar biosecurity risks," he said. The cases are being investigated under Section 5 of the Plant Quarantine Act 1976.
Barnama
05-05-2025
- Barnama
PGA Seizes Smuggled Plants Worth RM910,000 In Rantau Panjang
KOTA BHARU, May 5 (Bernama) -- The Southeast Brigade of the General Operations Force (PGA) seized 4,000 fruit plants and 1,600 flowering plants worth an estimated RM910,000 during an operation in Rantau Panjang yesterday. Its commander Datuk Nik Ros Azhan Nik Ab Hamid said the discovery was made when a lorry was stopped at the Serongga Checkpoint at around 7.30 pm under Op Taring Wawasan. 'Inspection of the lorry revealed thousands of fruit and flowering plants. The 34-year-old driver failed to present any valid documentation for the items,' he said in a statement today.
