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Consumer Non-Durables

QL Resources Bhd.

Company Background

Founded in 1987 by lecturer-turned-entrepreneur Chia Song Kun, QL Resources is a leading agri-food company with operations in Malaysia, China, Indonesia and Vietnam. Chia is currently QL Resources group managing director.

The company is involved in integrated livestock farming, marine products manufacturing and oil palm plantations. It is one of the largest egg producers in Southeast Asia, with a daily output of 4.5 million, and is engaged in deep-sea fishing, aquaculture and production of surimi fish paste, an ingredient used widely in processed food in Asia. It is the largest surimi producer in Asia, making 50,000 tons a year.

Most of the company's marine products are sold under the Mushroom and Figo brands, and are exported worldwide. It also owns over 160 sq. km of plantation lands for palm oil production. QL Resources is focusing its growth strategy on building up its consumer food segments. Its growth has mostly been achieved organically and through acquisitions. QL Resources is 45% owned by CBG Holdings, a private company controlled by the Chia family.

Business Summary

QL Resources Bhd. engages in the manufacture and sale of egg and surimi. It operates through the following segments: Marine-Products Manufacturing, Palm Oil and Biomass Energy, and Integrated Livestock Farming. The Marine-Products Manufacturing segment focuses on deep-sea fishing, and manufacture and sale of fishmeal, surimi, and suirmi-based products. The Palm Oil and Biomass Energy segment involves plantation, crude palm oil milling, and downstream palm biomass technology. The Integrated Livestock Farming segment distributes animal feed raw materials, food related products, and includes operation of convenient stores. The company was founded by Chia Song Kun in 1987 and is headquartered in Shah Alam, Malaysia.

Financial Highlights

Mar 2022 MYRUSD
Revenue5,235.97M1,253.86M
Gross Profit902.39M216.09M
Operating income347.06M83.11M
Income before tax320.69M76.79M
Net income217.34M52.04M
EBITDA573.19M137.26M
Diluted EPS0.080.02
Dividends Per Share0.030.00
Total Assets4,957.05M1,178.91M
Total liabilities2,250.64M535.26M
Total equity2,471.12M587.69M
Operating cash flow438.20M104.93M
Currency in MYRCurrency in USD

Historical Data

 Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022
Revenue 3,260.39M 3,619.05M 4,155.82M 4,378.78M 5,235.97M
Gross Profit 595.65M 686.76M 826.06M 870.02M 902.39M
Operating income 278.77M 307.89M 342.48M 377.46M 347.06M
Income before tax 230.14M 259.55M 296.16M 423.25M 320.69M
Net income 194.98M 216.77M 239.36M 311.90M 217.34M
EBITDA 408.81M 464.96M 527.67M 583.01M 573.19M
Diluted EPS 0.08 0.08 0.09 0.12 0.08
Dividends Per Share 0.03 0.03 0.03 0.03 0.03
Total Assets 3,322.46M 3,708.49M 4,096.35M 4,876.92M 4,957.05M
Total liabilities 1,439.14M 1,694.14M 2,005.34M 2,331.41M 2,250.64M
Total equity 1,804.56M 1,935.04M 2,017.51M 2,314.19M 2,471.12M
Operating cash flow 273.00M 255.98M 486.17M 554.84M 438.20M
 Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022
Revenue 781.76M 887.78M 997.90M 1,048.89M 1,253.86M
Gross Profit 142.82M 168.46M 198.35M 208.40M 216.09M
Operating income 66.84M 75.52M 82.23M 90.41M 83.11M
Income before tax 55.18M 63.67M 71.11M 101.38M 76.79M
Net income 46.75M 53.17M 57.47M 74.71M 52.04M
EBITDA 98.02M 114.05M 126.70M 139.65M 137.26M
Diluted EPS 0.01 0.02 0.02 0.03 0.02
Dividends Per Share 0.00 0.00 0.00 0.00 0.00
Total Assets 858.95M 908.38M 948.23M 1,176.15M 1,178.91M
Total liabilities 372.06M 414.97M 464.19M 562.26M 535.26M
Total equity 466.53M 473.98M 467.01M 558.10M 587.69M
Operating cash flow 65.45M 62.79M 116.74M 132.90M 104.93M

Valuation Measures

Mar 2022
PER56.21
ROA4.42%
ROE9.08%
Operating margin6.62%
Profit margin4.15%

Key executives

  • Group Managing Director & Executive Director: Song Kooi Chia
  • Investor Relations Contact: Freddie Yap
  • Secretary: Geok Ping Ng

Shareholders

  • Cbg L Pte Ltd. (40.2%)
  • Farsathy Holdings Sdn. Bhd. (11.5%)
  • Employees Provident Fund (5.2%)
  • Kumpulan Wang Persaraan (2.3%)
  • Public Mutual Bhd. (2.1%)
  • The Vanguard Group, Inc. (1.3%)
  • BlackRock Fund Advisors (0.9%)
  • Lembaga Tabung Haji (0.7%)
  • Eastspring Al-Wara' Investments Bhd. (0.6%)
  • Eastspring Investments (Singapore) Ltd. (0.6%)

Contact Details

  • Website:http://www.ql.com.my
  • Address: No. 16A, Jalan Astaka U8/83, Bukit Jelutong, Shah Alam, 40150, Malaysia
  • Phone: +60.3.78012288

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  • Figo Foods Sdn. Bhd.
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Competitors

    Last Updated on 4 Oct, 2022

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