QL plant in Sabah to be operational in April

  • Business
  • Wednesday, 27 Aug 2003

QL Resources Bhd expects its RM20mil marine-base plant in Kota Kinabalu to start operating in April next year and provide “decent numbers” to the company’s top- and bottomlines. 

Its managing director Chia Song Kun said the plant, together with the other businesses under the QL umbrella, would contribute positively towards achieving the 15% growth targeted by the management. 

“We have managed to record a compounded annual growth rate of 20% in turnover and 16% in pre-tax profit since our listing in 2000,” he said after the company's AGM and EGM in Kuala Lumpur yesterday. 

QL is involved in the manufacturing of food items such as marine products, poultry farming, crude palm oil milling and trading and distribution of these products. 

Since its listing in 2000, the company's market capitalisation has grown 100% from RM100mil to RM200mil at present. 

Last year, the company was recognised as one of the top KLSE companies under the Agriculture and Fisheries segment in the KPMG Shareholder Value awards. 

Chia said the company would continue to focus on its existing business and any expansion would be in similar types of activities. 

At the EGM, shareholders approved the proposed mandate for recurrent third party transactions of a revenue or trading nature. 

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