Receive up-to-the-minute news updates on the hottest topics with NewsHub. Install now.

Johor Corp confirms relisting of QSR Brands, Kulim

May 2, 2018 5:16 AM
50 0

PETALING JAYA: Johor Corp (JCorp) today confirmed that its food and restaurant arm QSR Brands (M) Holdings and plantation unit Kulim (Malaysia) Bhd will make a comeback on Bursa Malaysia in the near future.

Speaking at a press briefing, Johor Corp president and CEO Datuk Kamaruzzaman Abu Kassim said the listing of QSR, which operates KFC, Pizza Hut and Ayamas, will take place "no later than November this year" and is expected to raise some RM2 billion.

For Kulim, he noted that the listing timeframe is within two years, but the priority is to increase the plantation area to at least 100,000 hectares from the current 58,000 hectares.

Recall that both KFC Holdings (M) Bhd and its parent QSR were taken private by Johor Corp, the Employees Provident Fund (EPF) and private equity firm CVC Capital Partners in 2013 following a RM5.12 billion buyout. This was followed by the delisting of Kulim in 2016.

Excluding contribution from QSR, Johor Corp reported a 10.6% growth in net profit to RM459 million for the financial year ended December 31, 2017 against RM415 million a year ago.

Source: thesundaily.my

Share in social networks:

Comments - 0