I-Berhad has delivered a strong start to its financial year with a 150% year-on-year surge in profit before tax (PBT), hitting RM12.36 million for the first quarter ended 31 March 2025. This shows a significant leap from the RM4.95 million recorded in the same period last year.
The group’s revenue also saw a sharp 53% rise to RM62.06 million, compared to RM40.47 million in Q1 2024.
The growth was driven by solid contributions across its three core business segments which are property development, property investment, leisure and hospitality.
I-Berhad Executive Chairman Tan Sri Lim Kim Hong attributed the strong performance to the company’s strategic pivot towards building a more asset-driven, recurring-income business model.
“Our earnings are now broader and more resilient. We are seeing the results of the restructuring we initiated last year,” he said.
Property development made a remarkable turnaround, posting RM4.62 million in PBT versus a loss of RM2.23 million in the same quarter last year. Meanwhile, property investment generated RM5.28 million in PBT up to 42% year-on-year on the back of high occupancy rates at Mercu Maybank and Central i-City Mall.
Although the leisure and hospitality segment remained the group’s top revenue contributor at RM26.4 million, its PBT moderated to RM2.97 million from RM4.16 million a year earlier due to seasonal factors, including Ramadan.
Looking ahead, I-Berhad aims to maintain earnings momentum by focusing on phased development and optimising yields across its hospitality and commercial assets. As of end-March, unbilled sales stood at RM89.2 million, offering visibility for upcoming quarters.
With RM5 billion in remaining gross development value (GDV) at i-City, the Group plans to launch future projects in sync with market conditions.
Shahriena Shukri is a journalist covering business and economic news in Malaysia, providing insights on market trends, corporate developments, and financial policies. More about Shahriena Shukri.
