“As we progress in the age of the ‘new normal’, the JCorp 3.0 Reinvention Plan has accelerated our efforts by resetting and reimagining the group to be resilient, agile and sustainable, as we future-proof this institution,” said JCorp president and chief executive Datuk Syed Mohamed Syed Ibrahim.
KUALA LUMPUR: Johor Corp Group (JCorp) recorded a net profit of RM379mil for the financial year ended Dec 31, 2021 (FY21), up over 100%, compared with a net loss of RM237mil in FY20.
This was achieved on the back of revenue of RM5.13bil, an increase of 19% from RM4.3bil previously.
“The improved results were attributable to stronger revenue from the agribusiness segment, due to the uptrend in crude palm oil and palm kernel prices,” JCorp said in a statement yesterday.
The group’s wellness and healthcare segment enjoyed stronger contributions from hospital activities, particularly from higher inpatient and outpatient numbers, as well as from successful cost optimisation efforts across the segment.
The agribusiness segment had revenue of RM1.65bil, a significant jump of 49% against FY20, while the wellness and healthcare segment achieved a 10% increase in revenue.
“As we progress in the age of the ‘new normal’, the JCorp 3.0 Reinvention Plan has accelerated our efforts by resetting and reimagining the group to be resilient, agile and sustainable, as we future-proof this institution,” said JCorp president and chief executive Datuk Syed Mohamed Syed Ibrahim.
Reflecting on the group’s strong financial health in the first quarter of 2022, JCorp was assigned an AAA/stable rating by RAM Ratings for its RM3.5bil Islamic medium-term notes (sukuk wakalah) programme.
JCorp is a value-driven organisation with total assets in excess of RM23bil as of the end of FY21. — Bernama
