Wednesday, 26 May 2021
KPS records RM1.1 bln revenue in 2020, gets shareholders’ nod for 2.5 sen dividend
SHAH ALAM, May 26 — Kumpulan Perangsang Selangor Bhd (KPS) says it had surpassed its RM1 billion revenue mark for the fiscal year 2020, which showed growth by 24.4 per cent to RM1.1 billion from the RM866.8 million recorded in 2019.
In a statement yesterday, the company said manufacturing had contributed 83.1 per cent, growing by 37.4 per cent to RM894.6 million, followed by trading and licensing, infrastructure, and property.
“The revenue contribution by trading and licensing had each contributed 11.5 per cent and 3.6 per cent, growing by 5.7 per cent to RM124.1 million and 8.0 per cent to RM39.2 million, respectively.
“Infrastructure slagged, contributed 0.9 per cent or RM9.1 million. Property investment contributed lower this period, contributing to the remaining RM9.5 million or 0.9 per cent to the Group’s revenue,” the statement read.
KPS managing director and group chief executive officer Ahmad Fariz Hassan in a presentation during the company’s 44th Annual General Meeting (AGM) and the extraordinary general meeting, yesterday, said that despite the ongoing unprecedented challenges posed by the Covid-19 pandemic, KPS had reflected its ability to sustain strategic agility, value creation and operational efficiency which had shown outstanding results.
“The steady revenue growth we registered in fiscal 2020 was the result of our agility in navigating the operational challenges such as disruption in supply chains and customer demand.
“Notwithstanding these challenges, our continuous efforts in ensuring the continuity of our operations strengthened our resilience,” said Ahmad Fariz, adding that the effective strategy includes the quick assessment and response towards the disruptions to ensure the adaptability of its production.
“I am pleased to note that our manufacturing subsidiaries remained the main and steady contributor to the Group’s revenue even in a volatile operating environment,” he added.
Meanwhile, KPS had obtained its shareholders’ approval to all of its resolutions on the agenda at the said AGM, which include the final single-tier dividend of RM13.4 million or 2.5 sen per share for the financial year ended 2020.
The dividend payout represents 39.3 per cent of the company’s corresponding normalised profit after taxation after minority interest (Patami) of RM34.1 million
KPS had in March approved a dividend policy under which the company intends to pay at least 30 per cent of its normalised Patmai annually.
The final dividend will be payable on June 24 to shareholders of record as of May 31.
The shareholders had also approved the proposed deferment of the second-year profit guarantee by Toyoplas Manufacturing (Malaysia) Sdn Bhd (“Toyoplas”) of not less than RM42.3 million from the financial year ended 2020 to the financial year ended 2021.
It said the deferral was requested following the Covid-19 impact that affected the business operations and financial performance of Toyoplas and resulted in an aggregate shortfall to the second year profit guarantee of RM31.3 million.
