LATEST UPDATES : 17 May 2019 | Immediate Announcement on Shares Buy Back
Corporate Information
Chairman Message

On behalf of the Board of Inch Kenneth Kajang Rubber Public Limited Company, I present herewith the One Hundred and Eighth Annual Report and Financial Statements of the Company and the Group for the financial year ended 31 December 2017.



The Board has proposed an interim dividend payout of 2% (0.2 pence) as part of our commitment to deliver shareholders value, with the total dividends under the single tier system.


During the financial year under review, the Group recorded a revenue of RM15.839 million and a loss after tax of RM14.748 million compared to a revenue of RM10.834 million and a post-tax loss of RM3.741 million for the previous year. The increase in Group’s turnover by RM5.0 million is mainly due to the higher bookings received from the travel agents and online travel agents by the tourism division and from the higher sales of the rubber blocks during the financial year under review.

The plantation division recorded a lower revenue at RM0.181 million (2016: RM0.266 million) due to the decline in production of fresh fruit bunches (“FFB”) by 34% to 315 tonnes (2016: 481 tonnes). Revenue from the Group’s tourism division increased by 26.4% to RM10.611 million from RM8.395 million in 2016 due to higher bookings received.

Included in the above results for the financial year under review was a share of loss after taxation of RM0.73 million versus share of loss after taxation of RM0.17 million in 2016 from the Group’s associate – Concrete Engineering Products Berhad (“Cepco”), a manufacturer and distributor of prestressed spun concrete piles and poles. The decreased sales volume is attributable to the slower offtake in the overseas projects. As such, there was an impairment of RM9.595 million to reflect the lacklustre performance of Cepco.

Overall, the total performance of the Group was mainly affected by the impairment in Cepco.


The shareholders of the Company had approved an ordinary resolution at the One Hundred and Seventh Annual General Meeting (“107th AGM”) held on 23 May 2017 for the Company to purchase its own shares up to a maximum of 10% of the issued and paid-up capital of the Company. The Directors of the Company are committed to enhancing the value of the Company and believe that the purchase plan is being implemented in the best interest of the Company and its shareholders.

As at 31 December 2017, the Company has 17,540,800 ordinary shares held as treasury shares and the issued and paid-up share capital of the Company remained at 420,750,000 ordinary shares of £0.10 each.

During the year, the Company delisted its shares from the London Stock Exchange on 6 November 2017.


The Master Plan to develop the land bank in Kajang, totalling approximately 140 hectares has been submitted to Jabatan Alam Sekitar, Lembaga Lebuhraya Malaysia and Jabatan Kerja Raya. We have obtained their conditional approval and comments.

We are certain that this township will impact positively to the socio-economic condition of the South Greater Klang Valley region.

On the tourism division, as expected, revenue increased in 2017. Based on this, at operating level, we expect the performance of the Group to be at least as satisfactory as in 2017. We anticipate that 2018 will see even more tourists coming to the resort.


On behalf of the Board, I wish to express my appreciation to all our customers, shareholders, business partners, bankers and government authorities for their continued support and encouragement during the year.

Special thanks also go to the management and staff. Your invaluable efforts and firm dedication to the Group are truly appreciated. We are confident that greater success is in the pipeline.

I would also like to take this opportunity to offer my personal gratitude to my fellow Board members for their continuous commitment and guidance.


30 April 2018

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