KUALA LUMPUR: Diversified group KUB Malaysia Bhd aims to increase its supply of liquefied petroleum gas (LPG) cylinder by 30 per cent in the next three years following its planned enhancement of network and improvement of infrastructure.
Its president and group managing director Datuk Abdul Rahim Mohd Zin said at the moment, KUB is producing 10 per cent of the industry's production of 130,000 to 150,000 metric tonne per month.
"In the energy sector, which primarily is the business of the supply and distribution of LPG cylinders, we are expanding our infrastructure facilities which will increase our supply.
"This is our plan in order to expand and capture bigger market share than what we have today," he told reporters after KUB's annual general meeting here today.
For the 12 months ended December 31, 2015, KUB recorded a net profit of RM7.86 million on a revenue of RM465.5 million compared with RM676.4 million revenue and RM2.3 million net profit in the previous year.
Although revenue was lower, net profit was higher due to the cost optimisation exercise implemented and income earned for the disposal of assets and subsidiaries.
KUB's disposal of non-performing business - A&W Retaurant (Thailand) Co Ltd and KUB Builders Sdn Bhd has resulted in one-off gains of RM19.5 million.