FYE 31 DEC 2023 CCK CONSOLIDATED ACHIEVED REVENUE OF RM980.75M, PRE-TAX PROFIT RM107.44M

Rarely are there 3 generations in a company's management but when Ethan Tiong, 28, was appointed Deputy CEO in CCK Consolidated Holdings Berhad (CCK) on 1 March 2024, it happened. His grandfather, Tan Sri Datuk Tiong Su Kouk, 82, is Chairman/Founder of CCK, Sarawak's largest integrated poultry producer. Tan Sri Tiong is also a shipbuilder in Miri through Nam Cheong Ltd (listed in Singapore). His sheer determination to rise from poverty and to excel is what Foochow Chinese are known for. Ethan graduated with a Bachelor in Commerce (Finance and Management) University of Melbourne, Australia. He joined the family business as ED of CCK Fresh Mart chain in 2018. His father is John Tiong, 57, Group MD of CCK. His uncle, Tiong Chiong Soon, 54, is ED of CCK.

For FYE 31 Dec 2023 CCK reported revenue of RM 980.75m and pre-tax profit RM107. 44m. The Group's core business is the retail segment which operates 75 retail stores and supermarkets across Sarawak and Sabah under the CCK Fresh Mart brand and CCK Local brand respectively. CCK's retail network is supported by a fully integrated supply chain consisting of a feedmill, layer farming, poultry farming, prawn farming and manufacturing of house-brand food products. The retail segment  achieved a revenue of RM858.4 million during FY2023. 

PE firm Creador acquired 40% in CCK's Indonesian unit PT Adilmart Tbk  for RM163m in September 2024. CCK has established a strong brand presence for its frozen food business in Kalimantan and Central Java. John Tiong Chiong Hiiung, Group MD of CCK, is positive that Creador's investment and experience with accelerate the growth of PT Adilmart in Indonesia. 

ACKNOWLEDGEMENTS

1. CCK Consolidated Holdings Berhad. 2023 Annual Report. http://www.cck.com.my/source/annual_report/1714642542_Annual-Report-2023.pdf
2. The Edge Malaysia. 27 June 2024. Cheryl Poo. https://theedgemalaysia.com/node/715754
3. Asia Food Beverages. Oct 2024. https://asiafoodbeverages.com/cck-divests-stake-in-indonesian-subsidiary-to-form-strategic-partnership-with-creador/
4. klsescreener. 12 September 2024. The Edge. https://www.klsescreener.com/v2/news/view/1391475/Creador_acquires_40_equity_in_CCK_s_Indonesian_unit_with_RM163_1_mil_investment
5. International Journal of Academic Research in Business and Social Sciences. 4 November 2023. Jiet Ping Kiew and Ting Ling Toh. https://hrmars.com/papers_submitted/19170/from-340-to-a-listed-company-the-leadership-style-of-ccks-founder-tan-sri-datuk-tiong-su-kouk.pdf
6. Pressreader. The Borneo Post. 8 September 2016. https://www.pressreader.com/malaysia/the-borneo-post/20160908/281758448735620
7. Nam Cheong Limited. https://namcheong.com.my/aboutus_corporate_profile.html