KUALA LUMPUR, 24 May 2023: Kim Teck Cheong Consolidated Berhad (KTC or the Group) has received clearance from the Securities Commission Malaysia to transfer its listing to the Main Market of Bursa Malaysia Securities Berhad.
Listed on the ACE Market in 2015, from a humble revenue and net profit of RM341.2 million and RM2.0 million respectively for its financial year ended 30 June 2016 (FY2016), its revenue and net profit have ballooned to RM705.8 million and RM22.1 million respectively in FY2022, giving a respectable growth rate of 207% and 1,105% respectively. KTC has achieved an improved current ratio of 123% and gearing ratio of 48% in FY 2022 as compared to FY 2016. With these, KTC has successfully improved its cash flows by presenting improved net operating cash flow of 68% and net assets of 178% in FY 2022 as compared to FY 2016. KTC has also achieved in improving its trade receivables and inventories turnover days of 266% and 173% respectively.
KTC Executive Director Datuk Dexter Lau said, “We are undoubtedly grateful and would like to humbly express our immense gratitude to the relevant authorities in approving this transfer to the Main Market. With global economies moving into this post-pandemic era, I believe this transfer is timely where we are more than ready for the next phase of our journey following the leap to the Main Market. The transfer will unquestionably improve our corporate profile and reputation whilst being accorded higher recognition amongst institutional investors.”
About Kim Teck Cheong Consolidated Berhad (“KTC”)
The history of the Group’s business can be traced back to 1938 with the establishment of Kim Teck Cheong, a sole proprietorship by its founder, the late YBhg Datuk Lau Yeong Ching, to operate a sundry shop in Sabah. In 1967, YBhg Datuk Lau Kok Sing (the son of the late YBhg Datuk Lau Yeong Ching) joined the business operations, and finally took over the helm of the business operations as the Managing Director in 1973. To date, Datuk Lau Kok Sing is supported by YBhg Datuk Dexter Lau (the son of Datuk Lau Kok Sing).
The Group is in the business of distribution of CPG (i.e. providing market access and coverage) where it is involved in the distribution of third party brands of products as well as its own brand of products. Within its portfolio of third party brands, the Group covers food and beverage, personal care, household, baby care, OTC drugs and health supplements and others. As for its own brand of products, the Group covers F&B products which comprise frozen food. The Group distributes CPG in East Malaysia namely Sabah, Labuan and Sarawak, as well as Brunei. The Group is also involved in the manufacturing, distribution, sales and marketing of bakery products under the brand “Creamos” and “Gardenia”, which commenced operations in February 2014 and April 2020, respectively in various geographical areas in Sabah.
For more information on Kim Teck Cheong Consolidated Berhad, please log on to https://kimteckcheong.com.