PETALING JAYA, May 2 — Johor state-owned conglomerate, Johor Corp (JCorp) expects to re-list its plantation business, Kulim (M) Bhd and its food and restaurant services business, QSR Brands (M) Holdings Bhd on Bursa Malaysia in the near term.
JCorp President and Chief Executive Datuk Kamaruzzaman Abu Kassim said the group is looking to list QSR Brands, the operator of KFC, Pizza Hut and Ayamas not later than November this year.
“We are looking to raise some RM2 billion in proceeds for QSR Brands and market capitalisation is expected to be RM6 billion after the listing,” he said during the press conference today.
He said QSR Brands has a network of restaurants throughout Asean, with a total of 1, 268 Pizza Hut and KFC outlets in Cambodia, Singapore and Brunei.
Previously, KFC Holdings (M) Bhd and QSR Brands were delisted from the stock exchange in 2013 following a RM5.12 billion buyout.
However, for its plantation business ― Kulim, Kamaruzzaman said the group is looking to increase its current size of 58,000 hectares to 100,000 hectares.
“We are looking to be listed on the stock exchange by roughly two years from now,” he said.
The group’s net profit excluding food and restaurant business stood at RM459 million for the financial year ended December 31, 2017.
JCorp recorded a 4.1 per cent growth to RM5.579 billion revenue for the financial year ended Dec 31, 2017, against RM5.355 billion recorded last year.
