KUALA LUMPUR: Khee San Bhd
(KSB), a candy confectionery manufacturer and distributor, has received shareholders approval for its regularisation plan, which includes proposed rights issues with warrants, a scheme of arrangement with creditors, and a share capital reduction.
In a statement today, the group said it has demonstrated resilience by recording seven consecutive quarters of profitability, laying a strong foundation to uplift its PN17 status.
KSB said that it aims to raise RM96 million from the rights issues to fund its restructuring efforts and restore its financial stability, and plans to introduce an employees' share scheme as part of the regularisation plan, aimed at attracting and retaining key talents to drive future growth.
Executive chairman Yong Loong Chen described the approval of the regularisation plan at the extraordinary general meeting as a significant milestone for KSB, expressing confidence that the group is on the right path to long-term success.
"Since our establishment in 1976, we have built a strong track record with 48 years of experience in manufacturing high-quality, diversified candy products. We have built recognisable and enduring brands across various geographies and target markets,” he said.
KSB also highlighted its ongoing efforts to expand its distribution channels and product range to boost revenue growth.
"In addition to securing new retail channels in Malaysia, we have entered export markets in New Zealand, Mauritius, and Taiwan through distribution partners, as well as modernising our market approach by launching the Candy Kingdom social media platform and establishing a presence on e-commerce platforms," it said.
The company also introduced new products in its popular Fruit Plus range, and has launched Beyond Fruit Plus, offering vegan and gluten-free candy options to meet the growing consumer demand for healthier confectionery options.
Looking ahead, the group noted that Malaysia’s sugar confectionery retail sales are projected to grow to RM485 million by 2026.
"To tap into these opportunities, KSB has outlined robust expansion plans, including investment in a new high-speed production line to increase capacity, entering into additional export markets, and continuing product development," it added. - Bernama
