Link: https://links.sgx.com/1.0.0/corporate-announcements/OJGPPCEURGODN03F/c546f1d0c02944cd163b9954c21e779120f447cf615318f7baf50f70799ab178

Summary:

• Revenue increased 6% to RM246.9 million, driven by core property development success and steady handovers of key projects like Vivo Executive Apartment and Viluxe.

• Net profit attributable to shareholders surged to RM66.2 million, reflecting strategic exits from non-core businesses, improved operational efficiency, and effective cost management.

• Gross profit jumped 115% to RM61.4 million, underlining the impact of the group’s focused turnaround and higher-margin projects.

• Strengthened balance sheet through divestment of non-core assets, significantly reducing debt and boosting cash reserves for future growth.

• Strategic pipeline includes launches of Viluxe Phase 2, MORI @ Park Enclave, and a premium freehold project in Tanjung Bungah, Penang.

• Major township Aspen Vision City in Batu Kawan (Penang) continues to expand as a flagship smart city, featuring partnerships with IKEA, Columbia Asia Hospital, and Marriott International (Aloft Hotel).

• Sustainability is integral: targets Green Certification for all developments, uses eco-friendly materials, implements advanced waste management, and builds community-focused spaces like a 25-acre Central Park.

• Expanded partnerships and continued recognition through industry awards for design excellence, sustainability, and corporate responsibility.

• Board and management emphasize resilience, innovation, and stakeholder engagement, with positive outlook buoyed by supportive market and government incentives for affordable housing.