Media Clippings

27 February 2020

KUALA LUMPUR: Kumpulan Perangsang Selangor Bhd’s (KPS) net profit increased marginally to RM17.53 million in the fourth quarter (Q4) ended December 31, 2019 from RM17.5 million a year ago.

Its revenue surged 73.7 per cent to RM297.92 million from RM171.55 million.

In a statement, KPS said this was its strongest quarterly results, having set in place robust development plans for its core businesses, most of which showing better performance.

It said results for Q4 showcased a new subsidiary contribution from Toyoplas Manufacturing (Malaysia) Sdn Bhd and full year contributions from CPI (Penang) Sdn Bhd and King Koil Manufacturing West LLC.

For the full financial year 2019, KPS returned to the black, posting a net profit of RM28.28 million from a net loss of RM205.55 million previously.

Its revenue during the same period almost doubled to RM867.49 million from RM582.31 million.

KPS managing director and group chief executive officer Ahmad Fariz Hassan said 2019 was a transformational year for it with new earnings dynamics post the Syarikat Pengeluar Air Sungai Selangor Sdn Bhd disposal shedding brighter lights on the earnings visibility.

“I am pleased with the progress and results we have delivered this year, seeing the expansion in both revenue and PATAMI (profit after tax and minority interest) flowing stronger into the fourth quarter.

“We have been consistently delivering financial commitments and at the same time creating sustainable value to our shareholders. We closed the year with the strongest quarterly results, solidifying our position despite the challenging business landscape,” he said in a statement.

Ahmad Fariz said the company was cautiously optimistic of its prospect, taking into consideration the macroeconomic, geopolitical and socio-demographic risks.

This included moderating global growth, persistent US-China trade tension and recently dire phenomenon of Covid-19, which is affecting the stability of global supply chain and ultimately, the overall economic growth.

“While we take cognisance of these challenges, we shall endeavour to improve the group’s prospect further by focussing on an improvement in operational efficiency, penetration of new market segments and on expansion of product mix and services across the subsidiaries.

“These shall form the basis of our plan for stronger business momentum for the group going forward,” he said.

https://www.nst.com.my/business/2020/02/569824/kps-posts-record-net-profit-and-revenue-q4-2019