Kulim (Malaysia) Berhad (Kulim) celebrates its 88
th
anniversary by unveiling its five-year transformation plan to become a leading
agribusiness player.
As part of the plan, Kulim aims to strengthen its
core businesses, create new growth, enhance operational excellence throughout
its Group, and pave the way for an Initial Public Offering (IPO) in 2024.
Mohd Faris Adli Shukery, Managing Director of Kulim
said one of his first tasks after joining Kulim in October last year was to
streamline its strategic direction.
“My goal is for Kulim to strengthen its position as
a leading agribusiness player and establish not only a sustainable legacy but
also a profitable organization built on the right beliefs and foundation for
the next generation,” said Mohd Faris at Kulim’s media briefing in conjunction
with Kulim’s 88th anniversary.
Mohd Faris said the streamlining of the business
structure includes the divestment of non-core businesses and assets,
striking-off dormant or inactive companies, and enhancement of organisation
structure, which is expected to be completed by the end of the year.
He said while expanding into Upstream, high-value
crops and new growth areas - specifically smart or integrated farming and
livestock management, Kulim is also venturing into downstream activities that
could capture the margin of the entire value chain.
“Despite the challenges of pandemic Covid-19, Kulim
registered a growth of 17% in revenue from RM1.21 billion in 2019 to RM1.41
billion in 2020,” said Mohd Faris, adding that the result was due to the
resilient manpower of Kulim, aided by the digitalisation programme under the
transformation plan.
“We implemented new systems for enhanced
management, operations, administration and accounting systems, as well as to
further enhance mechanisation and automation by investing more in machinery,”
said Mohd Faris.
He said the key to a successful transformation was
through recognising the efforts of its employees, aided by digitalisation and
mechanisation to increase productivity. While doing so, Kulim is also committed
towards the Environmental, Social & Governance (ESG) principles and
recognise the importance of ESG throughout its organisation.
“We are
committed towards the RSPO and MSPO certifications, investing in Renewable
Energy initiatives and working with biodiversity groups, to raise awareness on
environmental issues. Kulim also carries out community development initiatives
through institutions and programs for the community, children and education,
people’s welfare, infrastructure, culture and religion. The company also committed
to integrity, Kulim was successfully accredited with the ISO 37001:2016
Anti-Bribery Management System ("ABMS") by SIRIM on the 4 June 2021, “said
Mohd Faris.
At the event, Mohd Faris also revealed Kulim’s new
logo and corporate video as part of its rebranding exercise to
portray a stronger and more prominent Kulim as part of Corporate Malaysia.
Kulim also launched the #kulim88 and #kulimpeduli
campaigns to help those who were affected by the pandemic. #kulim88 campaign
ended on 29 August while #kulimpeduli starts later this month until the end of
December. This campaign targets to assist 1,500 recipients in Malaysia. Both
initiatives are collaborations with various foundations namely MyFundAction,
Yayasan JCorp, and other strategic local Johor agencies.
About KULIM
Kulim (Malaysia) Berhad
(“Kulim”) traces its history back to 1933 when Kulim Rubber Plantations Ltd was
incorporated in the United Kingdom. Kulim a wholly owned subsidiary of
JCorp, pioneering the sustainable palm oil producers, certified to the
Roundtable on Sustainable Palm Oil (“RSPO”).
Over the years, Kulim has
grown to become a diversified plantation company and continues to strengthen its
position by securing new hectarage. Kulim Group’s total oil palm planted area
boosted to 63,509 hectares at the end of 2020, across Malaysia and Indonesia.
Kulim is looking at the
expansion of its plantation segment to agribusiness which includes oil palm,
pineapple, other crops, smart farming and livestock whilst driving innovative
efforts; set on becoming one of the leading plantation and agribusiness players
in Malaysia.
Kulim is focused on
developing resilience in the supply chains, protecting revenues and
managing profitability while reconfiguring capital allocation for a
post-COVID-19 future. Guided by the transformation programme, they will work
towards achieving their goal to deliver sustainable long-term returns and value
to shareholders as well as other stakeholders.
