Latest news with #KokTuckCheong
The Star
6 days ago
- Business
- The Star
E&O's FY25 net profit surges to RM169mil
E&O managing director Kok Tuck Cheong. KUALA LUMPUR: Eastern and Oriental Bhd 's (E&O) net profit jumped to RM168.65mil in its financial year ended March 31, (FY25) from the previous year's RM133.60mil. Revenue increased by 75.3% to RM741.08mil from RM422.83mil in FY24. In a statement yesterday, E&O said the performance was driven by strong sales from its properties segment, which contributed RM630.5mil in revenue, an increase of 102% year-on-year (y-o-y), equivalent to 85.1% of the group's total revenue. 'Additionally, joint-venture projects such as Conlay, The Peak, and Avira Garden Terraces contributed RM428.9mil in revenue, marking a 61.5% increase. 'On an aggregate basis, the total revenue generated by the properties segment, including joint ventures, reached RM1.06bil,' it said. For the fourth quarter ended March 31 (4Q25), the group's net profit rose to RM69.84mil from RM36.47mil in the same quarter last year, while revenue jumped to RM236.65mil from RM121.32mil previously. E&O managing director Kok Tuck Cheong said the group's performance reflects the impact of its strategic direction and focus on sustainable growth. 'At Andaman Island in Penang, we have five ongoing projects with an estimated gross development value of RM2.7bil. 'Furthermore, we have plans to launch four developments comprising a mix of residential and retail properties strategically located on Penang Island and Klang Valley,' he said. During a virtual press conference held in conjunction with the company's FY25 results announcement, Kok said the group aims to realise RM1.5bil in property sales between FY26 and FY29. To date, the property development company has RM1.5bil in unbilled sales. Kok noted that the sales projection is supported by its development projects located in the Klang Valley, Johor Baru, and Penang. 'The total gross development value (GDV) for our project called The Meg, located at Andaman Island, Penang, amounts to RM691mil and is expected to be completed in April 2026. 'Our next projects, which are expected to be completed next year, are the Senna and Fera homes, also located in Penang,' he said, adding that the GDV for the 69 units of three-storey homes on 1.60ha is estimated at around RM280mil. Kok also noted that the group will not solely focus on the Penang market and intends to expand its business to other locations as well. He said the group is constantly on the lookout for potential land acquisitions, with most current opportunities coming in the form of pocket developments. 'We are also exercising a bit more caution, as we have already established this primary segment of our strategic direction and want to maintain that focus,' he added. — Bernama
The Star
7 days ago
- Business
- The Star
Strong sales revenue lifts E&O's 4Q net profit to RM69.85mil
KUALA LUMPUR: Driven by a strong performance in its properties segment, Eastern & Oriental Bhd (E&O) has ended the financial year 2025 (FY25) on a high note. The property developer posted a net profit of RM69.85mil in the fourth quarter ended March 31, 2025 (4QFY25), nearly double the net profit of RM36.48mil in the year-ago quarter. This lifted earnings per share to 2.81 sen as compared to 1.87 sen in 4QFY24. Revenue in the quarter under review leapt to RM236.66mil from RM121.33mil in the comparative quarter. Over the full financial year, E&O reported a cumulative net profit of RM168.65mil against a net profit of RM133.61mil in FY24, while revenue jumped to RM741.08mil from RM422.83mil in the previous year. According to the group, the positive performance was largely driven by the strong sales from the properties segment, which registered a revenue expansion of 102% year-on-year to RM630.5mil, equivalent to 85.1% of the group's total revenue. Additionally, joint venture projects such as Conlay, The Peak, and Avira Garden Terraces contributed RM428.9mil in revenue, marking a 61.5% increase. On an aggregate basis, the total revenue generated by the properties segment, including joint ventures, reached RM1.06 billion. E&O managing director Kok Tuck Cheong said the performance reflects the impact of the group's strategic direction and focus on sustainable growth. He noted there are five ongoing projects on Andaman Island with an estimated gross development value of RM2.7bil. He added there are plans to launch four developments comprising a mix of residential and retail properties strategically located on Penang Island and Klang Valley. "The group remains committed to delivering high-quality developments that cater to the expectations of discerning homebuyers and investors, while enhancing community living and driving long-term value creation,' he said.
New Straits Times
7 days ago
- Business
- New Straits Times
E&O ends FY2025 with 95pct revenue surge on strong property, JV sales
KUALA LUMPUR: Eastern & Oriental Bhd (E&O) saw a strong finish to its financial year ended March 31, 2025 (FY2025), with fourth-quarter revenue surging 95.1 per cent year-on-year to RM236.7 million, up from RM121.3 million. Pre-tax profit rose 49.3 per cent to RM72.1 million, while net profit nearly doubled to RM74 million. For the full year, revenue climbed 75.3 per cent to RM741.1 million, and net profit increased by 28.8 per cent to RM181.7 million. Excluding unrealised forex losses and one-off items, recurring net profit stood at RM210.5 million, up 95 per cent. E&O said that the strong performance was largely driven by the property segment, which contributed RM630.5 million in revenue, a 102 per cent increase and 85.1 per cent of total group revenue. Joint venture projects, including Conlay, The Peak, and Avira Garden Terraces, contributed RM428.9 million in revenue, marking a 61.5 per cent increase. On an aggregate basis, the total revenue generated by the properties segment, including joint ventures, reached RM1.06 billion. Managing director Kok Tuck Cheong said, "We are encouraged to end FY2025 on a strong note. Our performance reflects the impact of our strategic direction and focus on sustainable growth." At Andaman Island, E&O currently has five ongoing projects with a total gross development value (GDV) of RM2.7 billion. "The group remains committed to delivering high-quality developments that cater to the expectations of discerning homebuyers and investors while enhancing community living and driving long-term value creation," Wong said. Looking ahead, the group plans to launch four residential and retail projects in Penang and the Klang Valley in Q2 or Q3 of FY2026. E&O's hospitality segment also remains steady, and the group expects stronger performance in the new financial year, supported by hotel refurbishments, increased international flights, and expanded visa-free travel between Malaysia and China.
