Expansion and diversification
Kuok took PPB public in 1972. The listing coincided with Kuok shifting the focus of his business outside Malaysia, especially to Singapore.[3] Subsequently, Kuok Brothers began consolidating its core businesses into PPB. PPB acquired MSM in 1976 and added FFM to its fold in 1987.[3][4]
In the 1980s, the company expanded into the property development and palm oil plantation industries.
It acquired local property developer Tai Yan Realty (since renamed PPB Hartabina) and a 34 percent stake in Shaw Brothers Malaysia between 1982 and 1984.[4] Its involvement in properties also led to the company venturing in retail by operating several supermarkets and discount stores throughout Malaysia. From 1996 to 2000, it operated the Tops chain of supermarkets in a joint venture with Dutch retailer Ahold, but exited the business due to continuing losses.[3][5] The property division also included Rasa Sayang Beach Hotels from 1987 until 1999 when it was transferred to the Shangri-La Group.[3]
PPB entered into a joint venture with Golden Harvest (International) Ltd of Hong Kong to establish Golden Screen Cinemas (GSC) to take over the Shaw cinema chain in 1987. The group subsequently bought out Golden Harvest's stake.[4] GSC has since grown into one of Malaysia's largest cinema chains and film distributors.[3]
In 1986 and 1987 respectively, PPB acquired Saremas Sdn Bhd (in Sarawak) and 60 percent of Sapi Plantations (in Sabah) to establish itself in the palm oil plantation business.[4] It also acquired a 70 percent interest in Indonesian palm oil producer PT Tidar Sungkai Sawit (PTSS) in 1995.[4] The East Malaysian palm oil businesses were consolidated into PPB Oil Palms Berhad in 1997 and was listed in the Kuala Lumpur Stock Exchange.[4] PTSS was transferred into PPB Oil Palms in 2000.[4] In the 1990s, the group acquired a majority holding in Chemquest Sdn Bhd in stages to enter the waste management business. In 2001, Chemquest, through its 25 percent stake in Konsortium Abbas Sdn Bhd, won a 30-year concession to operate the Sungai Semenyih Dam and Water Treatment Plant.[3]
In retail business, PPB operated Kerry's, named after one of Kuok's group companies in Hong Kong. Kerry's began as a joint venture with Japanese supermarket chain Chujitsuya through Chujitsu Superstores Sdn Bhd[6] with only two stores opened in Kuala Lumpur (Cheras and Ampang City).[6] In 1991, PPB increased its equity of the joint venture to 65% and renamed it as Kerry's to reflect the increased local management and shareholding. With the store in Johor Bahru becoming the flagship store, Kerry's plans to open a new store every "12 to 18 months" depending on the "right conditions", eventually totalling to 7 or 8 stores.[7]
