PT Resources Holding has successfully achieved double-digit annual growth at 11.1% for net profit. The rise in domestic demand has managed to cushion the slowdown in overseas orders.
The quarter-on-quarter net profit was up 10.9% due to the gradual opening of China’s borders and the business expansion of specific China customers.
Business Nature of PT Resources
PT Resources Holding Berhad, with its operating subsidiaries MHC Cold Storage Sdn Bhd (“MHC”), MO Foodmart Sdn Bhd (“MO”) and HGMC Holding Sdn Bhd (“HGMC”), specializes in the processing and trading of frozen seafood products. Besides selling its products in Malaysia, PT Resources Holding Berhad also exports products to international markets, including China, the Philippines, Saudi Arabia and the UAE.
State-of-the-art processing facility in Pahang
PT Resources Holding Berhad processes its seafood products at its processing facility in Pahang, which is close to the fishing landing jetty in LKIM Complex Kuantan, which is among the top 5 largest fishing jetties in Peninsular Malaysia based on fish landings volume.
7 Outlets to serve customers in the East Coast region
PT Resources Holding Berhad currently operates seven outlets under the MO food mart and MO Wholesale Center trade names. To cater to online demand, it has introduced MO Signature, an online marketplace to satisfy seafood lovers’ cravings and indulgences.
Raise IPO proceeds for a new storage warehouse and working capital
PT Resources Holding Berhad successfully made its debut on ACE Market on 27 September 2022. It aims to raise RM48.6 million from its IPO. Out of the RM48.6 million, RM17.6 million would be allocated to finance the new storage warehouse, and RM27.2 million would be set aside for working capital expenditure to purchase raw materials. The 28,392 sq ft new storage warehouse comes with six cold rooms for frozen seafood supplies and other products, five loading/unloading bays, an anteroom, and a three-storey office building.
Embark on a two-pronged strategy
With the rising of operating costs stemming from global inflationary pressures, PT Resources is committed to cost reduction and marginal sale price increase initiatives. To grow its product demand domestically, the group strives to strengthen access to channel partners and establish more MO Foodmart Sdn Berhad focusing on the east coast of Peninsular Malaysia.
Since the global lockdown restriction is easing, the group is keen to increase its supply to China and the Middle East.
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