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PPB Group Berhad(“PPB”) is an investment holding and property investment company listed on the Main Market of Bursa Malaysia Securities Berhad, the Malaysian stock exchange. Incorporated in Malaysia in 1968, the PPB Group today is a conglomerate with total assets and market capitalisation of RM22.9 billion and RM20.6 billion respectively as at 31 December 2017.
KUALA LUMPUR (March 2): PPB Group Bhd said Singapore-listed associate Wilmar International Ltd will fuel PPB's growth in 2018. This is because agribusiness group Wilmar has been investing in its core business.
PPB managing director Lim Soon Huat said the diversified group PPB will continue to benefit from Wilmar's wide portfolio and recent expansion.
“Wilmar will help to fuel our growth because it has been investing. So when it comes to a certain stage, it will then start to harvest what it has invested. I believe that its future earnings will be good, barring any unforeseen circumstances.
“It’s not just palm oil. Wilmar has been investing in their core business besides expanding in other businesses. They are operating in a wider geographical area, so that will also continue to support the business performance of Wilmar," Lim said at a press and analyst briefing here today.
According to PPB's website, PPB owns an 18.6% stake in Wilmar. PPB's website indicates that Wilmar’s business encompasses the entire value chain of the agricultural commodity business, from cultivation, processing, merchandising to manufacturing of a wide range of agricultural products. PPB said Wilmar has over 500 manufacturing plants and an extensive distribution network covering China, India, Indonesia and some 50 other countries.
Meanwhile, PPB's diversified businesses include grains and agribusiness, cinema operations and property development, its website shows.
At the press and analyst briefing, Lim said PPB is expected to record "satisfactory" performance in the financial year ending Dec 31, 2018. “I believe our core business will be supported and to some extent benefit from the improved business activities and also the sentiment in Malaysia, so overall I believe our business going forward will be satisfactory in 2018,” he said.
KUALA LUMPUR (Mar 02) -- Malaysian flour-to-property conglomerate PPB Group plans to spend 622 million ringgit ($158.84 million) in capital expenditure to fund film exhibition, distribution, grains and agriculture businesses over the next four years, it said in a statement Friday.
The company plans to spend 296 million ringgit to open nine new movie screens as well as upgrade existing screens, it said.
Two-thirds of the total 259 million ringgit capital expenditure allocated for grains & agribusiness will be used for investment in China, PPB Group Director Ong Hung Hock said at a news conference in Kuala Lumpur. The company also plans to spend $21 million to build a new 500 ton per day flour mill for its Vietnam operation.
The company will allocate 20 million ringgit this year, to construct a new production facility for its venture into catering business, said Ong. The company ventured into the segment via its 45%-owned associate company Kart Food Industries.
PPB Group's net profit for the fiscal fourth quarter fell 24.2% year-on-year to 375.93 million ringgit, while revenue increased 11.1 % to 1.14 billion ringgit
Profit suffered due to lower contribution from 18.6%-owned Wilmar International, as well as reduced profit from grains and agribusiness segments.
Meanwhile, Chemquest Group, the environmental engineering and utilities arm of PPB Group, plans to bid for 500 million ringgit jobs for water and sewerage projects, its managing director Leong Yew Weng said at the same event, adding that contracts are likely to be awarded in next few months.