Kim Loong Resources pre-tax profit for FYE 2022 surpasses RM200m on turnover of RM1.7b
|GOOI BROTHERS ARE MAJOR SHAREHOLDERS OF KIM LOONG AND CRESCENDO CORP|
KIM LOONG RESOURCES Group is principally involved in plantation and palm oil milling operations. The plantations are located in Johor, Sabah and Sarawak. They own 3 palm oil mills with a total FFB (Fresh Fruit Bunches) processing capacity of 1.5 million MT per annum. Kim Loong was listed on Bursa Malaysia in 2000. As at 31 January 2022, the Group’s total plantation land holdings stood at 16,922 hectares of which 94% are fully planted with oil palms.
Kim Loong Resources (KLR) pre-tax profit for FYE ended 31 January 2022 surpassed the RM200 million threshold for the first time (RM210.33 million) on revenues of RM1.7 billion because of the high palm oil prices and the resilience of the Group's operations. The company is looking for land to expand its plantation business in Johor, Sabah and Sarawak.
The company was established by Gooi Seong Lim (Executive Chairman) and his three brothers, Gooi Seong Heen, (Managing Director), Gooi Seong Chneh, (ED) and Gooi Seong Gum, (ED). All four are engineers.
Gooi Seong Lim, 73, graduated from the University of Toronto, Canada, with a Bachelor of Applied Science degree in Mechanical Engineering in 1975. From 1975 until to-date, he has been the Managing Director of Sharikat Kim Loong Sendirian Berhad ("SKL"), a company which owns a controlling stake in KLR and Crescendo Corporation Berhad ("CCB"). Both KLR and CCB are public companies listed on the Main Board of Bursa Malaysia Securities Berhad ("Bursa Securities").
Gooi Seong Heen, 71, graduated with a Bachelor of Applied Science degree in Chemical Engineering from the University of Toronto in 1972 and obtained a Master’s degree in Business Administration from the University of Western Ontario, Canada in 1976. He served as an engineer with Esso Singapore Pte Ltd from 1973 to 1974. His experience embraces oil palm and rubber estate management, palm oil mill management and property development.
Gooi Seong Chneh, 67, is an Executive Director of KLR. He graduated with a Bachelor of Science degree from the University of Toronto, Canada in 1975 and obtained a Bachelor’s degree in Civil Engineering from the University of Ottawa, Canada in 1980. He was formerly a consultant with Campbell Engineering and Associates, Calgary, Canada for three (3) years from 1981 to 1983. He has been responsible for the development and management of oil palm and cocoa estates in Johor, Sabah and Sarawak since 1985.
Gooi Seong Gum, 66, is an Executive Director of KLR. He graduated with a Bachelor’s degree in Civil Engineering from the University of Ottawa, Canada in 1980. He was an engineering consultant for Bobrowski & Partners, Calgary, Canada for one (1) year from 1982 to 1983. His experience covers oil palm and rubber estate management, property development and construction site management.
The four Gooi siblings are the controlling shareholders of KLR. They are also the major shareholders of another listed company on Bursa Malaysia - Crescendo Corporation Berhad. For FYE 31 Jan 2022, Crescendo achieved a group revenue of RM217.1 million and pre-tax profit of RM33.84 million. The core business of Crescendo Group is Property Development & Construction. It has a landbank of 2,700 acres in Johor Bahru.
New Gen in Kim Loong Resources who are alternate Directors are Gooi Khai Chien, son of the Executive Chairman and Gooi Chuen Kang, 36, son of the MD. Khai Chien graduated with a Bachelor’s Degree in Chemical Engineering in 2014 and a Master’s Degree in Investments and Wealth Management in 2015. He was an Investment analyst with Target Asset Management in Singapore (2016 to 2019) before joining the family run business. Chuen Kang graduated with a Bachelor of Engineering (Chemical and Biomolecular Engineering) from the University of Melbourne in 2008 and worked with Accenture KL 2010 to 2014. Thereafter he too joined Kim Loong Resources.
Another new Gen, Gooi Chuen Howe, 38, son of the MD, is the Marketing & Mill Director of Kim Loong Resources. He is also an alternate director to Gooi Seong Heen, an ED at Crescendo. Chuen Howe holds a MBA from London Business School and a Master of Science degree in Applied Finance from the Singapore Management University.
Gooi Khai Shin, 33, the elder son of Executive Chairman Gooi Seong Lim, is alternate Director to his father at Crescendo. He graduated with a Master’s degree in Chemistry from the University of Edinburgh. He joined Crescendo in 2012 and is holding the post of Project Director.
- Kim Loong Resources Berhad. 2022 Annual Report. http://www.kimloong.com.my/data/cms/files/KLR%20AR2022%20230522.pdf
- Crescendo Corporation Berhad. 2022 Annual Report. https://crescendo.com.my/investor-relations/annual-general-meeting-2022/
- The Edge Billion Ringgit Club 2016. Liew Jia Teng. https://brc.theedgemarkets.com/2016/articles/kim-loong-resources.php
- Simply Wall Street. 21 October 2022. https://simplywall.st/stocks/my/food-beverage-tobacco/klse-kmloong/kim-loong-resources-berhad-shares/news/why-you-might-be-interested-in-kim-loong-resources-berhad-kl