QL Resources Berhad is an integrated agro-based business in Malaysia. It recently gained more attention from investors and consumers due to the opening of its chain of FamilyMart convenience stores in 2016. However, FamilyMart is just a small portion of QL’s business – the company is also involved in marine products manufacturing, integrated livestock farming, and palm oil activities.
I attended the company’s most recent annual general meeting to find out more about its various business segments and the management’s plan for future growth. Here are nine things I learned from the QL Resources AGM:
1. Revenue increased 9.1% y-o-y from RM3.3 billion to RM3.6 billion in 2019. The hike is mainly due to a 17.2% growth in revenue achieved by the integrated livestock farming segment on the back of the expanding convenience store and regional poultry operations. The segment made up 63.8% of QL’s total revenue in 2019