Dear Shareholders,
On behalf of the Board of Inch Kenneth Kajang Rubber Public Limited Company, I present herewith the One Hundred and Fifteenth Annual Report and Financial Statements of the Company and the Group for the financial year ended 31 December 2024.
DIVIDENDS
Due to the rebuilding of business after the pandemic, the Board has decided that no dividend is proposed for the financial year ending 31 December 2024.
PERFORMANCE REVIEW
During the financial year under review, the Group recorded a revenue of RM17.771 million compared to a revenue of RM17.327 million for the previous year. The increase in Group’s turnover by RM0.444 million is mainly due to the higher arrival of tourist at our resort during the financial year under review.
Revenue from the Group’s tourism division has increased to RM14.667 million from RM11.558 million in 2023 as there are more tourist arrivals especially from China.
In this financial year, the result of the Group’s associate – Concrete Engineering Products Berhad (“CEPCO”), a manufacturer and distributor of prestressed spun concrete piles and poles, was not taken into account as the net book value has been fully written off. Their sales volume has decreased as less infrastructure projects are available.
Overall, the total loss after taxation for the Group was RM7.043 million as compared to RM6.053 million in 2023.
CORPORATE DEVELOPMENT
As at 31 December 2024, the Company has 42,075,000 ordinary shares held as treasury shares and the issued and paid-up share capital of the Company remained at 420,750,000 ordinary shares of £0.10.
FUTURE OUTLOOK
The Master Plan to develop the land bank in Kajang, totalling approximately 140 hectares has been submitted to the One Stop Centre of Majlis Perbandaran Kajang. It is currently pending clearance before submission to the State level. We are still waiting for the approval. Once approved, we shall prioritise our submission for some of the residential area, to be followed by the commercial centre at a later stage.
Our tourism division has picked up due to the high arrival of guests, especially from abroad. As the global environment is currently facing some uncertainties, we feel that in 2025, there will be less tourists travelling, both local and overseas. This will also impact the manufacturing division whereby it is expected to perform almost the same as in 2024.
APPRECIATION
On behalf of the Board, I wish to express my appreciation to all our customers, shareholders, business partners, bankers and government authorities for their continued support and encouragement during the year.
Special thanks also goes to the management and staff. Their invaluable efforts and firm dedication to the Group are truly appreciated. We are confident that success is in the pipeline.
I would also like to take this opportunity to offer my personal gratitude to the Board members for their commitment and guidance.
DATO’ ADNAN BIN MAARUF
Chairman
16 April 2025