I-Berhad commits RM10mil for i-City smart city push
SHAH ALAM: I-Berhad has allocated RM10 million for the rollout of intelligent infrastructure pilot projects across i-City, reinforcing its commitment to smart city development as part of its broader transition into a technology-driven urban platform.
The latest initiative underscores the company's focus on embedding artificial intelligence and robotics into the core of i-City's ecosystem, transforming it into a truly tech-enabled intelligent city.
In a statement, I-Berhad said these technologies will be integrated into building management systems, tenant services, and community engagement platforms, aimed at boosting automation, operational efficiency, and personalised urban experiences.
"Our growth journey has always been grounded in bold vision and forward planning," said chairman Tan Sri Lim Kim Hong.
"i-City was built two decades ago as Malaysia's first digital city with fibre-to-home broadband and smart infrastructure. Today, we are ready to write the next chapter by elevating i-City into an intelligent, adaptive urban ecosystem."
With a strong recurring income base, sustained earnings growth, and an expanding digital infrastructure, I-Berhad is positioning i-City as a tech-centric urban hub that appeals to businesses, residents, and digital tourists, while enhancing overall property values within the development.
The group delivered a robust financial performance in 2024, with revenue climbing 27 per cent year on year. Profit attributable to shareholders rose 143 per cent to RM29.2 million, up from RM12 million in 2023, a testament to the group's solid fundamentals and evolving business model.
This growth trajectory continued into the first quarter of 2025 (Q1 2025), with revenue surging 53 per cent and net profit attributable to shareholders jumping 144 per cent year-on-year.
All three of I-Berhad's core segments, property development, property investment, and leisure and hospitality, contributed meaningfully to earnings, reinforcing the strength of its diversified operations.
According to Lim, these results reflect I-Berhad's successful pivot from a conventional property developer to a future-ready platform focused on long-term value creation through asset optimisation, digital transformation, and stable recurring income.
The group's digital initiatives are designed to be self-sustaining, with monetisation driven by SuperApp service revenues, enhanced leasing from value-added property solutions, and cost savings through predictive maintenance and automation, he said.
Lim said that by placing technology at the core of its business model, I-Berhad is strategically positioned at the intersection of real estate, digital innovation, and recurring income, unlocking scalable growth and new value creation opportunities.
"With a technology-forward model and recurring income focus, I-Bhd is well-positioned to create long-term shareholder value," said Lim.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Barnama
an hour ago
- Barnama
Gamuda Posts Higher 3Q Net Profit, Declares 10 Sen Dividend
BUSINESS Gamuda Group rewards shareholders with an increased dividend of 10 sen, up from previous year's 8 sen KUALA LUMPUR, June 26 (Bernama) -- Gamuda Bhd recorded a higher net profit of RM671 million for the third quarter ended April 30, 2025 (3Q), up five per cent year-on-year, driven by stronger performance in its domestic construction projects. 'Property sales grew 10 per cent to RM2.6 billion compared with RM2.3 billion sold last year, primarily driven by several quick-turnaround projects in Vietnam,' the engineering and construction group said in a statement today. During the same period, Gamuda's revenue increased by 14 per cent to RM11.5 billion from RM10 billion recorded in the corresponding period last year. The group's quarterly earnings rose five per cent to RM247 million, also supported by its domestic construction division, where earnings tripled to RM104 million compared to the same quarter last year. The board of directors has declared a second interim dividend of five sen per share, bringing the year-to-date dividend to 10 sen per share, representing a 25 per cent increase from the previous year's eight sen (adjusted following 1:1 bonus share issuance). Gamuda said its domestic operations have gained momentum, with its orderbook contributing 41 per cent of the total RM35 billion construction orderbook, representing a substantial portion of the group's overall performance. It noted that construction revenue and net profit rose by four per cent and 40 per cent, respectively, during the third quarter. Gamuda also noted that its data centre investments have begun to yield positive returns, contributing meaningfully to the engineering division's pre-tax earnings. 'This development marks a significant milestone for the group's expansion strategy, positioning it well to meet growing demand for digital infrastructure,' it added.
The Star
3 hours ago
- The Star
Top Glove's 3Q earnings slip amid headwinds
KUALA LUMPUR: A volatile market and uncertain trade environment chipped away at Top Glove Corp Bhd 's earnings in the third quarter ended May 31, 2025, despite a jump in revenue on a year-on-year comparison. "Our 3QFY2025 performance was impacted by pronounced headwinds, chiefly lower average selling prices, heightened competition, coupled with cost savings pass through. "However, it is encouraging that we have remained profitable while successfully delivering volume growth," said managing director Lim Cheong Guan in a statement announcing the glovemaker's quarterly result. According to the stock exchange filing, Top Glove posted a net profit of RM34.75mil, which was down from RM50.67mil in the year-ago quarter, attributed to increased competition and the weakening of the US$ against the ringgit. Top Glove had also registered a higher gain from land disposals in the year-ago quarter, which was absent in the current quarter. In line with the lower bottomline, earnings per share dipped to 0.43 sen from 0.63 sen previously. Revenue, however, rose to RM830.25mil from RM636.88mil, driven by a 45% increase in sales volume. For the cumulative nine-month period, the group's net profit was RM70.5mil, which compared favourably to a net loss of RM58.24mil in the year-ago period, while revenue rose to RM2.6bil from RM1.68bil in the comparative period. 'We believe the long-term outlook is still promising as gloves are an essential item across multiple sectors, which will drive sustained global demand. "We are also committed to delivering value to our stakeholders, while staying true to our principles of responsible and sustainable growth. These will enable us to navigate a volatile landscape while capitalising on emerging opportunities," said Lim.
Barnama
4 hours ago
- Barnama
MADANI JMKU Programmes Record Nearly RM10 Million In Sales Since 2022
KUALA LUMPUR, June 26 (Bernama) -- More than 150 series of the MADANI Cooperative and Entrepreneur Sales Programme (JMKU), held at 128 locations nationwide since 2022, have generated nearly RM10 million in sales. Entrepreneur Development and Cooperatives (KUSKOP) Minister Datuk Ewon Benedick said the initiative, organised with Malaysia Cooperative Societies Commission (SKM), supports the MADANI economic framework's focus on improving people's well-being. He added that the Vendor Capacity and Capability Development Programme (PPKV) recorded total sales of RM1.23 billion through the participation of 108 vendors. 'Last year alone, KUSKOP implemented 204 programmes that benefited close to 800,000 entrepreneurs, including micro, small and medium enterprises (MSMEs), cooperatives, social enterprises, hawkers, and petty traders,' he said at the launch of SME Bank's Budget 2025 Initiative, attended by Finance Minister II Datuk Seri Amir Hamzah Azizan. Ewon also highlighted that KUSKOP had upgraded or built 98 Tamu Desa premises in Sabah and Sarawak, with a total allocation of RM19 million between last year and early this year. He reaffirmed the ministry's commitment to driving entrepreneurship and cooperative development in line with the MADANI Economic Framework and the National Entrepreneurship Policy 2030. On the SME Bank-led Budget 2025 Initiative, Ewon said it underlines the vital role of development financial institutions in supporting national efforts to enhance the competitiveness and resilience of local entrepreneurs. 'The launch reflects the government's strong intent to ensure every ringgit under Budget 2025 delivers tangible benefits, especially to the entrepreneurial community,' he said. He expressed confidence that the initiative would enable more MSMEs to expand their capacity, explore new markets, and adapt to current demands, including digitalisation, sustainability, and exports.
