KUALA LUMPUR: IOI Properties Group Bhd posted a net profit of RM664.3 million for the first quarter (Q1) of the financial year ending June 30, 2026, up from RM69.2 million in the same quarter last year.
This was largely driven by a remeasurement gain of RM502.8 million from the acquisition of South Beach, alongside robust contributions from its property development and property investment segments.
Revenue for the quarter jumped 40.8 per cent to RM968.7 million from RM687.9 million a year ago, supported by strong growth across all core business segments.
The property development, property investment and hospitality and leisure segments expanded 47 per cent, 31 per cent and 44 per cent respectively.
Property development sales reached RM473.6 million, with 81 per cent generated locally, mainly from Klang Valley townships such as 16 Sierra in Puchong South and Senna Puteri in Salak Tinggi.
Johor contributed RM141.7 million from townships including Bandar Putra Kulai and Taman Kempas Utama.
Meanwhile, the property investment segment benefited from high occupancy rates in retail malls and offices, including IOI City Mall Phase 2 and IOI City Tower One.
The hospitality and leisure segment saw strong performance from its hotels in Malaysia, Singapore and China, including Sheraton Grand Xiamen Jimei, which reported higher occupancy rates during the quarter.
Group chief executive officer Lee Yeow Seng highlighted the positive outlook for the year, underpinned by Singapore’s favorable interest rate trend, the Visit Malaysia 2026 tourism boost and ongoing strategic initiatives such as the IOI Expo Campaign.
"As part of the group’s marketing efforts, we recently launched the IOI Expo Campaign, which included roadshows held at IOI City Mall and IOI Mall Puchong, featuring a wide range of residential, commercial and industrial offerings across our townships in Klang Valley, complemented by attractive promotional packages for prospective buyers.
"IOI Expo garnered strong interest, particularly for COVO, an upcoming transit oriented development comprising 601 units of serviced apartments in 16 Sierra, Puchong South.
“Our established townships of Bandar Puteri Puchong and IOI Resort City, as well as Senna Puteri also witnessed strong demand,” he said in a statement.
source: IOI Properties net profit surges from RM69mil to RM664mil | New Straits Times
2025-11-26T01:08:00Z