JCorp to venture into digital economy

Johor Corporation (JCorp), a subsidiary of the state government, is expected to venture into new markets under its Strategic Plan 2017-2022.

Menteri Besar Datuk Seri Mohamed Khaled Nordin said JCorp plans to diversify into the digital economy from its current businesses comprising plantations, healthcare, food and restaurant services, and property development.

"We hope the Strategic Plan 2017-2022 would be able to help JCorp become not only the most successful government-linked company (GLC) but also a source of identity, pride and inspiration for all Johoreans," he told reporters in the Johor 2017 Budget winding-up speech at the State Legislative Assembly here today.

The strategic plan includes expanding the hectarage of JCorp's subsidiary in Indonesia, Kulim (M) Bhd, to 75,000 ha. by 2022; integrated and feedlot cattle rearing; expanding MD2 pineapple cultivation area; growing the number of its specialist hospitals to 33 by 2022; and exploring new business opportunities.

"These include venturing into new markets abroad besides stabilising existing operations in Indonesia, Thailand and Bangladesh, and a strategic partnership with South Korea," he said.

Mohamed Khaled, who is also Permas Assemblyman, said the strategic plan seeks to put JCorp's finance in a robust position by end-2022, with JCorp aiming for RM2 billion in income and a pre-tax profit approaching RM800 million.

"At group level, we target a pre-tax profit of RM2.5 billion and income of RM20.3 billion," he said. -- Bernama