Latest news with #I-Bhd
The Star
4 days ago
- Business
- The Star
I-Bhd's 2Q net profit jumps to RM11.45mil
I-Bhd executive chairman Tan Sri Lim Kim Hong. KUALA LUMPUR: Property company I-Bhd 's net profit more than doubled to RM11.45mil for the second quarter of this year, from RM5.45mil in the year-ago quarter, on solid contributions across its core business segments. 'This quarter's results reflect the group's continued discipline in building a resilient, recurring income base while executing on our longer-term roadmap to elevate i-City as Malaysia's leading smart lifestyle destination. 'Each segment is delivering as intended – whether through stability, growth, or innovation – and this balanced approach gives us the agility to navigate evolving market dynamics,' said executive chairman Tan Sri Lim Kim Hong in a statement.
The Star
5 days ago
- Business
- The Star
I-Bhd posts 2Q net profit jump to RM11.45mil
I-Bhd executive chairman Tan Sri Lim Kim Hong KUALA LUMPUR: I-Bhd 's net profit more than doubled to RM11.45mil in the second quarter ended June 30, 2025, from RM5.45mil in the year-ago quarter, on higher contributions across its core business segments. "This quarter's results reflect the group's continued discipline in building a resilient, recurring income base while executing on our longer-term roadmap to elevate i-City as Malaysia's leading smart lifestyle destination. "Each segment is delivering as intended—whether through stability, growth, or innovation—and this balanced approach gives us the agility to navigate evolving market dynamics," said executive chairman Tan Sri Lim Kim Hong in a statement. During the quarter under review, the property developer posted revenue of RM62.3mil, up from RM55.53mil in the year-ago quarter. Earnings per share rose to 0.62 sen from 0.29 sen in the comparative quarter. Over the six-month period, net profit leapt to RM21.41mil from RM9.52mil in 1HFY24, while revenue climbed to RM124.35mil from RM96.16mil in the comparative period. According to I-Bhd, the leisure and hospitality segment remained the largest revenue generator for the second consecutive quarter, contributing RM28.6mil in revenue and RM4.77mil in pre-tax profit, representing a 61% increase from the preceding quarter. The property development segment delivered RM26.64mil in revenue and RM5.66mil in pre-tax profit, driven by steady sales and construction progress at BeCentral Residences Towers 1 & 2. As of June 30, 2025, unbilled sales stood at RM90.36mil. The property investment segment continued to provide stable returns, contributing RM6.45mil in revenue and RM4.79 mil in pre-tax profit.
New Straits Times
26-06-2025
- Business
- New Straits Times
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.
The Star
04-06-2025
- Business
- The Star
I-Bhd commits RM10mil to AI, robotics rollout across income-generating portfolio
SHAH ALAM: I-Bhd , the master developer of I-City, has announced an initial commitment of RM10 million to roll out artificial intelligence (AI) and robotics infrastructure across its portfolio of income-generating assets. In a statement, the company said the rollout, expected to be completed in 2028, will begin with the AI-Driven Enhancement at Mercu Maybank, a 33-storey corporate tower that serves as Maybank's alternate head office in i-City. According to the statement, the implementation will extend to other assets, including Wyndham Suites I-City, Wyndham Suites KLCC, Wyndham Garden, DoubleTree by Hilton i-City, Central-City Mall, I-City theme park, car parks, a data centre, and residential developments in i-City. "This rollout builds on the success of I-Bhd's pivot towards 'extracting value from the land', a strategy first introduced in 2024 to unlock long-term value from its RM10 billion gross development value (GDV) in i-City. "With over 50 per cent of the completed GDV made up of income-yielding properties, the group is now entering a phase focused on performance optimisation, operational scalability, and intelligent infrastructure,' it said. The statement added that the four-year technology roadmap is designed to embed automation into both internal operations and customer-facing experiences, including predictive maintenance, visitor flow management, and robotics-assisted service delivery across commercial, retail, and hospitality spaces. "The group's i-City SuperApp will serve as the central platform for integrating Robotics-as-a-Service (RaaS) capabilities across its asset ecosystem, with future plans for tenants to tap into shared infrastructure to optimise their operations,' it noted. The company also noted that it is currently in discussion with leading robotics and AI partners, including Unitree, DeepSeek, and Baidu, as it positions i-City as a scalable, AI-powered development. Meanwhile, chairman Tan Sri Lim Kim Hong said the group is not only addressing current demand but also future-proofing its assets by developing an intelligent urban ecosystem where performance, user experience, and data integration are aligned to generate long-term value for stakeholders. He added that the group has demonstrated its ability to generate recurring income and is now strengthening that foundation with intelligent systems designed to improve efficiency, adaptability, and long-term resilience across its assets. "AI and robotics are the next frontier in driving value from our ecosystem," he said. - Bernama
New Straits Times
04-06-2025
- Business
- New Straits Times
I-Bhd unveils RM10mil AI and Robotics rollout to future-proof i-City
KUALA LUMPUR: I-Bhd, the master developer of i-City in Shah Alam, has committed RM10 million to deploy artificial intelligence (AI) and robotics infrastructure across its portfolio of income-generating assets, with the initiative expected to be completed by 2028. In line with its long-term digital strategy, the company is currently in discussions with leading global technology players including Unitree, DeepSeek, and Baidu to transform i-City into a scalable, AI-powered smart city. The rollout will begin at Mercu Maybank, a 33-storey corporate tower serving as Maybank's alternate headquarters, and will extend to high-profile assets such as Wyndham Suites I-City, Wyndham Suites KLCC, Wyndham Garden, DoubleTree by Hilton i-City, Central-City Mall, the i-City theme park, car parks, a data centre, and residential components. Director Datuk Eu Hong Chew said the investment is not a trend-driven move but part of a deliberate strategy to ensure long-term relevance and competitiveness for I-Bhd's business and assets. "We're not just adding tech for the sake of it. This is about sustaining performance, unlocking value, and enabling intelligent systems to optimise asset efficiency and user experience," Eu said. The initiative aligns with I-Bhd's "value extraction" strategy introduced in 2024 to maximise returns from i-City's RM10 billion gross development value (GDV). With over 50 per cent of completed GDV comprising income-generating properties, the company is now entering a new phase focused on performance optimisation and smart infrastructure. Under its four-year technology roadmap, I-Bhd aims to embed AI and robotics into both operational systems and customer-facing services—ranging from predictive maintenance and energy management to visitor flow optimisation and robotics-assisted hospitality. The company's proprietary i-City SuperApp will serve as the digital backbone of the ecosystem, integrating Robotics-as-a-Service (RaaS) features that will eventually be made available to tenants and residents to enhance their operations. "When we launched i-City, we didn't set out to build just another property development. We set out to build Malaysia's first digital city. We set out to build a place where infrastructure, technology, and people come together to create lasting value. "That's how we became the first to deploy fibre-to-home as a core utility and build a Tier-3 data centre. But that was just Phase 1. "We kept the technology ecosystem dynamic and scalable for future enhancements. Today, as technology matures, we are ready and entering Phase 2, where intelligence is embedded into the ecosystem. This phase is where the city starts to think, learn, and adapt," Eu said. AI will allow the company to manage buildings more intelligently through predictive maintenance, energy optimisation, and visitor flow management, while robotics will assist in service delivery, from concierge bots to logistics and cleaning, he said. "AI and robots are expensive today, especially for individuals or small businesses. But with RM1 billion in assets, we have the scale to deploy and share this infrastructure. Over time, as the tech matures, we expect it to be accessible within corporate budgets," said Eu. He added that I-Bhd is following the same playbook it used two decades ago, working with strategic partners to integrate advanced technology that enhances property value and maintains i-City's edge as Malaysia's leading tech city. "When we started i-City, it wasn't just about building property. It was about building a digital city. Phase one was about infrastructure, fibre-to-home, and Tier-3 data centres. Now we're entering Phase Two, where the city begins to think, learn, and adapt," he said. Chairman Tan Sri Lim Kim Hong echoed the sentiment, adding that AI and robotics represent the next frontier in delivering value across I-Bhd's ecosystem.
