Kim Teck Cheong Consolidated Bhd (KTC) plans to invest RM30 million (US$7.33 million) in a Gardenia bread manufacturing plant in Kota Samarahan, Sarawak.
KTC, through its subsidiary Gardenia Bakeries (East Malaysia) Sdn Bhd has recently signed a MoU with Sanjung Etika Sdn Bhd, a wholly owned subsidiary of Yayasan Sarawak, and the Sarawak government, to form a joint venture (JV), Gardenia Bakeries (Sarawak) Sdn Bhd which will combine Gardenia’s manufacturing expertise with Yayasan Sarawak’s human capital and community development initiatives.
As part of this agreement, KTC has announced the RM30 million (US$7.33 million) investment and has applied to the Sarawak State Government for a 7.56 acre plot of land to construct the Gardenia bread manufacturing plant.
KTC so far has invested RM300 million (US$73.3 million) in Sarawak to date, generating annual revenue of RM400 million (US$97.8 million).
The new JV will also introduce an exclusive Gardenia ‘Sarawak Edition’ product range and packaging, aligning with Sarawak’s unique identity and cultural heritage.
