03/07/2025

BIZ & FINANCE THURSDAY | JULY 3, 2025

15

Johor Corp posts strong revenue, earnings growth

CGS launches funds targeted at sophisticated investors KUALA LUMPUR: CGS International Wealth Management Malaysia Sdn Bhd (CGS Asset Management), a wholly owned subsidiary of CGS International Securities Malaysia Sdn Bhd (CGS MY), launched two new wholesale fund-of funds under their Cash Management Solutions suite – the CGS Ihsan Cash Fund and CGS Dynamic Cash Fund – to meet the increasing demand for efficient, yield-enhanced high-liquidity investments. CGS Asset Management aims to hit RM1 billion AUM from new cash solutions in a year. CGS Asset Management’s Shariah and conventional Cash Management Solutions are wholesale fund-of funds designed to provide investors a one-stop access to a diversified portfolio. A minimum 90% of the funds will be invested in top-performing money market collective investment schemes (CIS). These liquid and low-risk, short term money market CIS serve to preserve capital and support short term cash flow needs with active allocation by fund managers to further optimise the funds’ yields. Both funds target sophisticated investors seeking smarter cash management. CGS MY deputy CEO Alan Inn Wei Loon said that these cash fund-of funds are the first of its kind in market and offer their investors access to a diversified portfolio of money market CIS via an optimised-allocation approach that allows their fund managers to enhance yield, while minimising single fund and portfolio risks. “We’ve introduced various asset management solutions, including our Single-Family Office launched in May with the Malaysian government. With our growing suite of offerings, we’re confident in delivering a comprehensive, tailored approach— from wealth building to yield optimisation and smarter cash management,” he added. The CGS Ihsan Cash Fund and CGS Dynamic Cash Fund are available now.

A key pillar of MyFashionChamber’s commitment to building a resilient and sustainable fashion ecosystem is its partnership with Allianz General Insurance Company (Malaysia) Bhd. Founder and chairperson Dr Leena Al-Mujahed said the initiative aims to foster robust international collaborations, develop clear export pathways for Malaysian designers, and ensure their creative talents are consistently represented on global platforms and at major industry events worldwide. included RM425.82 million in dividend income – primarily from Kulim (RM356.42 million) and KPJ (RM64.95 million) and RM223.47 million in proceeds from industrial land sales. The results underscore stronger asset performance and deliberate capital recovery actions taken during the year. As of Dec 31, 2024, JCorp’s total Assets Under Management stood at RM24.5 billion. JCorp president and CEO Datuk Syed Mohamed Syed Ibrahim said as they continue to play their role as responsible stewards, their focus remains on building institutions that drive long-term impact. JCorp said it enters FY25 with renewed emphasis on creating value and enabling sustainable communities in line with its commitment to Membina & Membela. This entails scaling AI and digital integration, advancing strategic sectors such as agribusiness and healthcare, and deepening collaboration across the public and private ecosystem. A key priority is to strengthen executional excellence in order to deliver long-term value while reimagining the next phase of growth for Johor and the nation.

international market access. The Chamber was formed to provide advocacy, visibility, capacity building, and global networking for Malaysia’s diverse fashion ecosystem. “We’re not just launching a Chamber, we’re launching a movement,” says MyFashionChamber CEO and co-founder Jay Ishak. “Malaysia’s fashion industry has soul. What it needs now is structure, support, & scale. MyFashionChamber exists to make that possible, here at home, and across the world.” of its discontinued operation segment, resulting in total net profit of RM113.5 million for FY24. JLand Group achieved a remarkable RM1.3 billion in revenue for the year 2024 – a strong 9% increase compared to the year 2023. This growth was primarily driven by contributions from its property development and integrated community solutions segments. Overall, the group delivered a commendable performance, recording RM205.81 million in profit before tax and RM157.8 million in net profit. These results reflect the group’s solid operational execution and effective cost management, underscoring its resilience and strong fundamentals. JLand Group’s financial results are on a proforma basis, pending the completion of JLand Group’s internal restructuring. QSR Brands (M) Holdings Bhd, operator of KFC and Pizza Hut across Malaysia and the region, recorded RM3.53 billion in total revenue – RM3.23 billion from continuing operations. At the holding level, JCorp recorded RM759 million in revenue and RM634 million in net profit. This

o FY24 revenue up 12% from previous year, profit before tax jumps 19%

KUALA Johor Corporation (JCorp) and its group of companies announced consolidated financial results for the financial year ended Dec 31, 2024 (FY24), recording revenue of RM6.96 billion, a 12% increase from RM6.2 billion in FY23. In a statement yesterday, JCorp said the performance reflects continued momentum under the JCorp 3.0 Reinvention Plan, which is reshaping the organisation into an impact-led, value-driven Investment Holding Corporation. FY24 saw stronger contributions across key verticals, supported by focused capital allocation, portfolio optimisation, and operating model improvements. Profit before tax rose to RM718 million – exceeding the FY23 results by 19%. This was supported by contributions particularly from the agribusiness and wellness and healthcare divisions, value unlocking through strategic asset LUMPUR:

disposals, and tighter cost control across the group. KPJ Healthcare Bhd (KPJ) recorded a revenue of RM3.92 billion in FY24, marking a 15% year-on-year growth, driven by continued patient trust in our “Care for Life” patient centric approach. Net profit rose to RM407.2 million, underpinned by improved margins, enhanced operational efficiency and prudent financial management. The group’s agribusiness vertical, led by Kulim (Malaysia) Bhd (Kulim) through its core investee company JPG, recorded RM1.61 billion in revenue – an 18% increase from the previous year. Plantation operations contributed 95% of segment revenue, while the remaining came from the agrofood division. Net profit from continuing operations stood at RM242.7 million, supported by improved commodity pricing and sustained cost efficiency. The group also recognised a one-off loss of RM129 million from the divestment

MyFashionChamber to put Malaysia on global map KUALA LUMPUR: Malaysia’s fashion industry enters a bold new era with the launch of the International Fashion Chamber Malaysia (MyFashionChamber) – a national platform uniting designers, (RM957 million) in 2023, and broader textile-related exports reaching US$227.4 million in 2024, underscoring the industry’s growing economic potential.

Founded with the vision to establish Malaysia as a key player in the global fashion arena, MyFashionChamber sets out to redefine the future of fashion in the region by addressing long standing structural gaps within the industry by building sustainable bridges between talent, trade, education and

educators, artisans, and innovators under one mission: to connect creativity with commerce and elevate Malaysia’s global fashion standing. Malaysia’s textile and apparel exports continue to show resilience, with knitted and crocheted fabric exports valued at US$228.2 million