TERENGGANU INC RECORDS REVENUE OF RM1.2 BLN IN 2021

KUALA TERENGGANU, Sept 26 (Bernama) -- Terengganu state-owned investment holding company, Terengganu Incorporated Sdn Bhd (Terengganu Inc) and its subsidiaries’ revenue rose to RM1.2 billion in financial year 2021 (FY2021), from RM1.0 billion recorded in FY2020.

In a statement, its president and executive director, Burhanuddin Hilmi Mohamed@ Harun said the group's revenue increased by RM148.1 million for the financial year ended Dec 31, 2021, driven by better performance within its subsidiaries.

“Other notable trends included the group’s profit before tax and zakat which rose by 364 per cent year-on-year (y-o-y) to RM77.7 million from RM16.7 million in FY2020. 

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“Once again, the plantation cluster, comprising TDM Bhd and Ladang Rakyat Trengganu Sdn Bhd, remained the biggest revenue contributors to the group at 49 per cent due to higher average palm oil and palm kernel prices, followed by healthcare (19 per cent), and energy and resources (17 per cent),” he said.

The healthcare cluster’s revenue rose by 11 per cent y-o-y to RM224.3 million, boosted by the higher returns per patient and an increase in the number of outpatients.

Meanwhile, the group’s energy and resources cluster, spearheaded by Golden Pharos Bhd, also showed better revenue of RM9.5 million, thanks to higher production.

Its tourism cluster also recorded a net profit of RM2.2 million in FY2021 following the resumption of tourism activities, and revenue rose by 66 per cent y-o-y (RM3.5 million) against a loss of RM7.3 million in FY2020.

“We are optimistic that Terengganu Inc and the subsidiaries can maintain a strong growth pace in tandem with the nation's ongoing economic recovery, with our sound business principles and risk management practices in place.

“Our pursuit of success extends beyond our commercial objectives, and we shall continue to push for more policies that promote resilience and sustainable growth to ensure economic growth, environmental preservation, social development and good governance,” added Burhanuddin.

-- BERNAMA