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Qew Group Builds Resilience Roadmap to Foster Long-Term Success

KUALA LUMPUR: Qew Group Berhad is building into a strong, resilient and responsible organisation by implementing various strategies and plans across the short, medium and long term to positively bring value to stakeholders.

 

Apart from the aim of achieving solid financial performance, the company is prioritising social and environmental action plans in all its corporate decision-making.

 

The strategy aligns with Qew Group's main objective, which is to foster a corporation that not only sustains solid financial earnings but also makes active contributions to the advancement of community well-being.

 

With this strong focus, Qew Group is using a three-pronged strategy to build a lasting legacy that benefits its stakeholders over the short (Benevolent Future), medium (Big Future), and long term (Bright Future).

 

The combined assets of the five key companies, including Qew Communications Sdn Bhd, a telco player holding Network Facilities Provider (NFP), Network Service Provider (NSP) and Application Service Provider (ASP) license from the Malaysian Communications and Multimedia Commission (MCMC), reached RM622 million in 2023, marking a notable increase of 184 per cent from RM219 achieved in 2022.

 

This positive growth reflects a noteworthy milestone for the Qew Group, underscoring the company's resilient financial standings and solid cash flow.

 

Qew Group's large-scale business venture in Terengganu, the 600+100-acre iron ore mining project, together with the Lembaga Tabung Amanah Warisan Terengganu (a fully government-owned company), that commenced operation in the fourth quarter (Q4) of 2022 has started to show positive returns.

 

The first 100,000 MT stockpile is prepared for processing and export.

 

With a total development cost (GDC) of RM800 million the estimated yield over the 5-year concession period for this project is RM2 billion.

 

Therefore, Qew Group is implementing strategies to revive and improve cash flow management to maintain sustainable earnings from this project.

 

Apart from the Terengganu iron-ore project, another high-impact project recorded in Q4 of 2023 is the development of a 250-acre property in Bukit Kayu Hitam, Kedah, involving GDC worth RM2.17 billion.

 

This high-profile project is developed on Qew Group's fully-owned land in collaboration with the company's strategic partner, Invest Kedah Berhad, a subsidiary of the government's strategic investment. The total approved investments in Kedah last 3 years recorded almost RM100 billion under the portfolio of Invest Kedah Berhad.

 

This project is set to open a new economic landscape at the Malaysia-Thailand border entry, especially in the Free Trade Zone (FTZ) and the dynamic and competitive Halal Hub Development Model.

 

QEW has also strengthened regional trade relations by recently signing a Memorandum of Agreement (MOA) with the Indonesia Malaysia Thailand Growth Triangle (IMT-GT).

 

According to Economic Affairs Minister Rafizi Ramli, the IMT-GT subregion recorded a plausible trade value of US$727 billion in 2022 compared to US$618 billion recorded in 2021.

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