KUALA TERENGGANU – Terengganu Incorporated Sdn Bhd (Terengganu Inc), the strategic investment arm wholly owned by the Terengganu State Government, closed its 2024 financial year on a strong note, posting total revenue of RM1.75 billion and pre-tax profit (PBT) of RM81.7 million.
Group President and Chief Executive Officer, Dato’ Burhanuddin Hilmi Mohamed @ Harun (Pic), said the achievement was driven by the strength of its core sectors, plantations, oil and gas, as well as healthcare, which collectively contributed more than 80 percent of the group’s total revenue.
“Plantations remained the main contributor with 36 percent of revenue, supported by stable crude palm oil prices and improved estate productivity.
“This industry not only reinforces the company’s financial standing but also creates significant impact on the supply chain and local employment opportunities,” he said in an interview at Terengganu Inc’s office in Chendering yesterday.
He added that the oil and gas sector contributed 23.1 percent of revenue, while the healthcare sector accounted for 20.3 percent, reflecting positive prospects in both industries.
The remaining contributions came from energy and natural resources (13.4 percent), infrastructure, construction and engineering (4.4 percent), tourism (1.5 percent), and other investments (1.3 percent).
In terms of profitability, Terengganu Inc successfully tripled its PBT to RM81.7 million from RM26 million the previous year, while profit after tax (PAT) increased to RM42.2 million.
“The turnaround from loss to profit demonstrates the effectiveness of operational management, cost optimization, and a more focused investment strategy,” he explained.
At the same time, the group’s total assets rose to RM3.85 billion at the end of 2024, up from RM3.76 billion a year earlier.
Shareholders’ equity reached RM1.69 billion, while liabilities stood at RM2.16 billion, reflecting a more stable financial position with a balanced capital structure.
Burhanuddin noted that the infrastructure, construction and engineering segment was among the largest growth drivers, successfully doubling its revenue compared to last year.
He added that the tourism sector also recorded a strong recovery through hotel operations expansion and increased domestic tourism activities.
“Overall, the 2024 performance proves that Terengganu Inc is on the right track in executing its business diversification strategy and strengthening resilience in the face of market uncertainties,” he said. – TRDI
