KPJ Healthcare Berhad

Johor Corp Boosts bumiputra Equity

JOHOR Corporation is among the most successful organisation in increasing Bumiputera equity in the country.

JOHOR Corporation is among the most successful organisation in increasing Bumiputera equity in the country.

Minister in the Prime Minister’s Department in charge of the Economic Planning Unit, Tan Sri Nor Mohamed Yakcop said Johor Corp had recorded its best results in 40 years since the company’s inception.

Nor Mohamed said Johor Corp had earned RM1.4 billion at the end of the financial year 2011 and owned assets worth RM17 billion during the same period.

He was confident that the Bumiputera corporate development programme between the Bumiputra Economic Development Agenda Unit (Teraju), Mara and Johor Corp would further increase Bumiputera equity.

Among the initiatives of the programme, which Nor Mohamed launched here in Johor Baru on Tuesday, was to provide business consultations and loans, among others, to increase the involvement of Bumiputeras in the corporate world.

Johor Corp president and chief executive Kamaruzzaman Abu Kassim said the corporation now owned 71 companies.

He said 18 were direct subsidiaries, while 51 were under Sindora, Kulim (Malaysia) Bhd, QSR Brands Bhd and KFC Holdings Bhd , KPJ Healthcare and Waqaf An-Nur Corporation.

"These schemes allow entrepreneurs to own up to 100 per cent equity interest in their respective companies through monitoring, guidance and continuous corporate support from Johor Corp in terms of training, finance, and management, branding and marketing," he said.

Kamaruzzaman said all the 71 companies were among the main contributors in Johor Corp’s overall revenue growth.