KUCHING: Kim Teck Cheong Consolidated Bhd
(KTC) plans to invest RM30 million in a Gardenia bread manufacturing plant in Kota Samarahan, Sarawak, creating 500 jobs for local graduates and skilled workers.
KTC, through its subsidiary Gardenia Bakeries (East Malaysia) Sdn Bhd, today signed a memorandum of understanding (MoU) with Sanjung Etika Sdn Bhd, a wholly owned subsidiary of Yayasan Sarawak, and the Sarawak government.
The collaboration will establish a joint venture, Gardenia Bakeries (Sarawak) Sdn Bhd, combining Gardenia's manufacturing expertise with Yayasan Sarawak's human capital and community development initiatives.
KTC said the parties aim to finalise a joint venture agreement and shareholders' agreement within the next three months, paving the way for the new company to commence operations.
"As part of this agreement, KTC has announced a RM30 million investment and has applied to the Sarawak State Government for a 7.56-acre plot of land to construct a Gardenia bread manufacturing plant.
"The project is expected to create 500 new job opportunities tailored specifically for local graduates and skilled labour in Sarawak,” it said in a statement.
KTC executive director Datuk Dexter Lau said the company was grateful for the trust placed in it by the Sarawak leadership and people over the past decade.
"Ten years ago, KTC began investing in Sarawak with no employees. Today, driven by our belief in the state's human capital, we are proud to employ 400 Sarawakians, representing 32.5 per cent of KTC's total workforce.
"This demonstrates the effectiveness of Sarawak's administration, education system and welfare policies in developing highly competitive talent for the private sector," he said.
KTC said it has invested RM300 million in Sarawak to date, generating annual revenue of RM400 million and managing operating and trading assets valued at RM140 million.
The company said the partnership would also introduce an exclusive Gardenia "Sarawak Edition" product range and packaging.
"This themed product line is created as a special gift and a symbol of the highest appreciation for the unique identity and cultural heritage of the people of Sarawak,” it said. - Bernama
