Supreme Group records strong operational and financial growth in 2019

Datuk Richard Wee

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By Adrian Lim

KUCHING, Feb 29: Supreme Consolidated Resources Bhd (Supreme Group) has achieved robust operational and financial growth in 2019.

Its executive chairman Datuk Richard Wee disclosed that the group’s profits after tax improved by RM2.1 million to RM6.2 million in 2019 representing an increase of 52 per cent.

He explained that the higher profit was attributed to an increase in revenue by RM10.2 million to RM144.8 million.

Wee said the improved results have enabled the Supreme Group to reward its shareholders with three dividend payments amounting to a total of RM4 million since January 2019.

Meanwhile, he said the Supreme Group intends to continue its generous dividend payments in the foreseeable future.

Wee further commented that all operating divisions within the Group have shown improvements and were executing strategic initiatives to enhance operational efficiency, financial management and corporate governance.

In addition, he noted the group’s new warehouse facilities in Kuching and Miri will be fully operational by June 2020.

“It is hoped that these new facilities coupled with its strong management team will facilitate further growth in its current business operations.

“I believe the Supreme Group has built a strong foundation in Sarawak.

“As such, the group is actively seeking new agencies and welcomes investment opportunities to complement its business regionally,” he said in a briefing to shareholders recently.

Going forward, Wee believes that the group has a bright outlook and is poised to achieve strong operational and financial growth in the years ahead.

In the meantime, all the resolutions proposed at the group’s Annual General Meeting (AGM) which was concluded recently were approved.— DayakDaily