Listed in 2000 on Bursa Malaysia, QL Resources is an agri-food producer with operations across Malaysia, Indonesia, Vietnam, and China. It is involved in marine products manufacturing (MPM), integrated livestock farming (ILF), and palm oil activities. It is, however, more well-known for its FamilyMart convenience store chain in Malaysia although it is just a small part of the business for now.

The convenience store chain is currently grouped under the ILF segment as the reporting threshold has not been met to be separately reported. It will be interesting to see how the store chain will pan out in the future for QL given its relatively asset-light and scalable operations compared to other segments.

Here are six things I learned from the 2020 QL Resources AGM:

1. Revenue increased 14.8% year-on-year to RM4.2 billion in 2020 while net profit excluding extraordinary items increased 22.1% year-on-year to RM199.2 million. The better performance was due