SHAH ALAM, June 14 – Kumpulan Perangsang Selangor Berhad (KPS) posted a profit attributable to owners of the parent (PATAMI) of RM48.5 million for the quarter ending March 31, 2024. This significant surge in earnings is primarily attributed to a RM271.5 million gain from the divestment of a 50% equity stake in Kaiserkorp Corporation Sdn Bhd, the parent company of King Koil Manufacturing and King Koil Licensing. Despite mixed sector recovery, KPS maintained robust strategic initiatives, leading to a special dividend payout of 4.5 sen per share.
The manufacturing segment, contributing 82% of KPS’s total revenue, saw a 6% year-on-year decline, with Toyoplas and MDS experiencing drops due to elevated inventory levels. However, Century Bond Bhd and CPI (Penang) Sdn Bhd reported revenue increases driven by higher sales in specific sectors. The trading business, Aqua-Flo, and other segments also showed positive trends, while overall income was bolstered by strategic divestments and operational efficiency improvements. Looking ahead, KPS remains cautious yet optimistic about navigating market challenges and anticipates gradual improvement in market sentiment throughout 2024.
