Johor Corp records RM5.62 billion revenue for 2018

Johor Corporation (JCorp) recorded a higher revenue of RM5.616 billion for the financial year ending Dec 31, 2018, compared with the RM5.564 billion posted a year prior.

JCorp president and chief executive Kamaruzzaman Abu Kassim said these results were achieved at a time when most businesses were facing various challenges, on top of market uncertainties.

"The encouraging results were contributed mainly by core businesses, namely plantation, healthcare, food and restaurant services, as well as property division and industry development.

"Överall, for 2018, JCorp and the group had managed to achieve the targeted key performance index, despite facing a tough environment and challenges in the participated sectors," Kamaruzzaman said in a statement to Bernama.

The group, however, posted a slightly lower gross profit of RM1.722 billion for the period under review, compared with RM1.741 recorded a year before.

As for the group's assets, it continued to grow and was valued at RM22.891 billion in 2018, compared with RM21.79 billion in 2017.

Kamaruzzaman said the plantation business, led by Kulim (Malaysia) Bhd, a JCorp plantation arm, remained among the largest contributors to the group with revenue amounting to RM1.39 billion.

"Despite being affected by the drop in the crude palm oil prices at the global market, Kulim had managed to deliver encouraging results, due to the implementation of various steps to increase sustainability and operation efficiency,” he said.

Meanwhile, KPJ Healthcare Bhd (KPJ) continued to strengthen its position in the market with revenue of RM3.3 billion for the period under review, compared with RM3.2 billion a year before.

"Moving forward, KPJ plans to expand its business by establishing a hospital at every major district in Johor, as well as ambulatory care centres near major cities nationwide,” he said.

According to Kamaruzzaman, the strengthening of JCorp had enabled the group to continue to play its three roles effectively, namely as the state development instrument, market leading business entity, as well as assuming corporate social responsibility based on its "membina and membela" (to build and champion) mission.

This, he said, included giving back RM95.12 million to the society via various CSR programmes, apart from its commitment to build 'Rumah Mampu Biaya Johor'.

"For the period of 2018, JCorp had multiplied its efforts in playing the three roles through the implementation of high-impact projects. 

"The group financial position had also enabled JCorp to settle its payment obligations, as well as channelling monies towards social development," he said.

For 2018, the group paid RM396.64 million in taxes to the government, Kamaruzzaman added.

- Bernama