Johor Corporation

Johor Corporation (JCorp, ) is Johor’s principal development institution for the State of Johor, Malaysia. Headquartered in Johor Bahru, its operations extend across multiple countries including Malaysia, Singapore, Indonesia, Brunei, Australia, Thailand, Cambodia and Bangladesh.

JCorp’s flagship companies Kulim (Malaysia) Berhad, KPJ Healthcare Berhad, QSR Brands (M) Holdings Bhd and JLand Group Sdn Bhd spearhead the Group’s interest across four core sectors, namely: agribusiness, wellness & healthcare, food & restaurant and real estate & infrastructure.

As an investment holding corporation, its primary goal is premised on its mission of Membina & Membela (Creating Value, Enabling Sustainable Communities[1]).

The corporation has maintained corporate global credit ratings of "AAA/Stable/P1" by the rating agency RAM Ratings since 2022. In 2024 this was reaffirmed. RAM Ratings has also affirmed the AAA ratings of JCorp’s RM3.5 billion Islamic Medium-Term Notes Programme and RM2 billion State-Guaranteed Islamic Medium Term Notes Programme.

Board of directors

Given JCorp's role as a state agency, the Menteri Besar Johor holds the position of Chairman of the Board of Directors.

The board is composed of the President and Chief Executive, six officials from the Johor Civil Service, Federal Government officials and two other independent directors:

• Three officials of the Johor Civil Service:[2]
• the secretary of state;
• the state legal advisor;
• the state financial officer;
• Three officials of the Federal Government:
• the secretary-general of Treasury, Ministry of Finance;
• the secretary-general of the Ministry of Economy; and
• the secretary secretary-general of the Ministry of Trade and Industry; and
• Two independent directors appointed amongst the business community.

History

JCorp was incorporated as Perbadanan Kemajuan Negeri Johor (PKENJ) [3] or Johor State Economic Development Corporation (JSEDC) by the Johor State Government under enactment No. 4/1968, which was passed on 18 May 1968 as the principal development institution to drive the growth of the state’s economy. It was later amended in 1995 and renamed to Johor Corporation (Pindaan; Enakmen No. 5/1995).

The corporation was initially funded with a RM10 million loan from the State Government to fund its entry into the plantation business. JCorp has had three significant stages of evolution over the past 50 years.

JCorp 1.0 commenced in 1968 and was mandated to eradicate poverty and to organise society.

The Group transitioned into JCorp 2.0 stage in 1995 to accelerate economic growth. With a net asset value of RM2.2 billion at the time, JCorp was Malaysia's largest SEDC.

In 2020, JCorp 3.0[4] was initiated to reinvent, reset, reimagine and future-proof its businesses.

Investments

JCorp's investments are focused on its core businesses, agribusiness, wellness and healthcare, food and restaurant, and Real Estate and infrastructure.