SHAH ALAM: State investment arm Kumpulan Perangsang Selangor Bhd (KPS) has targeted annual revenue growth of between 5% and 10% following its shift in focus to manufacturing from the infrastructure and utility sectors.
KPS managing director and CEO Ahmad Fariz Hassan said the manufacturing sector contributed between 85% and 90% to its total revenue after it implemented a business transformation plan (BTP) in 2016.
“Since 2016, KPS has invested in several local manufacturing companies. It is now actively exploring similar opportunities abroad,“ he said at a press conference after launching its new logo. Selangor Menteri Besar Datuk Seri Amirudin Shari officiated at the event today.
Its investments in the manufacturing sector included Kaiserkorp Corp Sdn Bhd, global brand owner of King Koil®, Century Bond Bhd, a provider of integrated cleaning solutions, in 2016; CPI (Penang) Sdn Bhd in 2018 and Toyoplas Manufacturing (Malaysia) Sdn Bhd in 2019, both of which provide electronics manufacturing services.
He said KPS had managed to raise total revenue from RM200 million in 2016 to RM1.3 billion last year due to its business transformation and encouraging growth recorded by its subsidiaries.
“Apart from operating outside Selangor such as in Negri Sembilan, Penang, and Johor, KPS is also in the US, China, Indonesia, and Vietnam; its overseas business operations now contribute about 40% to the company’s revenue,“ he said.
Ahmad Fariz said at present KPS's business value chain spans more than 90 countries, with multinational companies among its customers.
Earlier, KPS chairman Datuk Haris Kassim said the new logo denotes a more progressive, dynamic and global KPS identity. Its relevance in the business investment arena remains and it will meet stakeholders’ expectations.
“The process of rebranding the KPS’ identity will continue to further strengthen its brand equity,“ he said. – Bernama
