Zantat Holdings Bhd managing director Ivan Chan Bin Iuan
KUALA LUMPUR: Zantat Holdings Bhd aims to use its expertise in calcium carbonate production as a foundation for pursuing business opportunities and growth.
“The Zantat group’s strategy is to leverage its core competency and strengths as a producer of calcium carbonate products to serve as a platform to address business opportunities and growth,” managing director Ivan Chan said in a statement.
The high grade calcium carbonate powder producer saw its net profit rise 25.9% to RM6.8mil in the financial year ended Dec 31, 2023 (FY23) compared with RM5.4mil a year ago, driven by higher revenue contribution from its production of ground calcium carbonate (GCC) business activity.
Its revenue for FY23 rose 8.7% to RM122.8mil from RM113.0mil in FY22 mainly due to higher sales volume for GCC from customers in India as well as kaolin dispersion from customers in Malaysia.
For the fourth quarter period ended Dec 31, (4Q23), Zantat reported a net profit of RM1.1mil on the back of RM31.7mil revenue.
There are no comparative figures for the corresponding preceding quarter’s results as this is the first interim financial report being announced by the company in compliance with the Listing Requirements.
Chan said the company’s revenue for FY23 came mainly from its production of GCC and production of CC dispersion business activities which accounted for RM107.3mil and RM10.9mil, representing 87.4% and 8.9% respectively.
Zantat is scheduled to list on the ACE Market of Bursa Malaysia Securities on March 27.
