KUCHING: A top-tier Main Market listed company on Bursa Malaysia, Kim Teck Cheong Consolidated Berhad (KTC), through its subsidiary Gardenia, has officially signed a strategic Memorandum of Understanding (MOU) with Sanjung Etika Sdn Bhd, a wholly-owned subsidiary of Yayasan Sarawak, and the State Government of Sarawak.
The collaboration aims to establish a joint-venture company, Gardenia Bakeries (Sarawak) Sdn Bhd, as co-shareholders, combining Gardenia’s leading manufacturing expertise with Yayasan Sarawak’s human capital and community development initiatives.
Through this partnership, both parties are committed to transitioning into the Joint Venture (JV) Agreement and Shareholders’ Agreement phase within the next three months to officially commence operations and establish the entity.
As part of this agreement, KTC has announced an investment of RM30 million and has applied for a 7.56-acre plot of land from the Sarawak State Government to construct a Gardenia bread manufacturing plant.
The project is expected to create 500 new job opportunities tailored specifically for local graduates and skilled labor in Sarawak.
Commenting on this historic milestone, KTC Executive Director, Datuk Dexter Lau, expressed his gratitude and pride for the unwavering trust placed in them by the leadership and people of Sarawak over the past 10 years:
“Ten years ago, KTC began investing in Sarawak with zero employees. Today, driven by our belief in the immense potential of the state’s human capital, we are proud to have successfully employed 400 local Sarawakians, representing 32.5% of KTC’s total workforce.
“This proves the efficiency of Sarawak’s administration, education system, and welfare in nurturing highly competitive, top-tier talent for the private market.
“To date, KTC’s investments in Sarawak have reached RM300 million, generating an annual return of RM400 million, with the management of operating and trading assets valued at RM140 million.
“This economic impact is expected to grow significantly with the integration of Gardenia’s supply chain and physical manufacturing plant within the state,” he added.
Alongside strengthening the local economy, this strategic cooperation will introduce an exclusive product range and special packaging named the Gardenia “Sarawak Edition”.
This themed product line is created as a special gift and a symbol of highest appreciation for the unique identity and cultural heritage of the people of Sarawak.1/2Tel : 013 811 0111 Fax : 088 422 011Lot 73, Jalan Kilang, SEDCO Light Industrial Estate, Mile 5 ½ Jalan Tuaran, 88450 Kota Kinabalu, Sabah KIM TECK CHEONG CONSOLIDATED BERHAD. (1113927-H)
KTC also expressed its full support for the long-term economic vision of the Premier of Sarawak, YAB Datuk Patinggi Tan Sri (Dr) Abang Haji Abdul Rahman Zohari bin Tun Datuk Abang Haji Openg, following the announcement of the establishment of the Sarawak Trade and Tourism Office (STATOS) in Pontianak, Indonesia.
KTC plans to leverage this platform to explore new cross-border investment opportunities using Sarawak as an operational hub.
The execution of this RM30 million investment is hoped to be accelerated through the continuous strong support of the Sarawak State Government, enabling both parties to achieve optimum shared prosperity, food supply stability, and socio-economic impact for mutual well-being.For more information, please visit our website at https://kimteckcheong.com/-
