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Daily Express
5 days ago
- Business
- Daily Express
KTI records RM175 million revenue last year
Published on: Friday, May 30, 2025 Published on: Fri, May 30, 2025 By: Larry Ralon Text Size: (From left) Wilson Loke (Group Executive Director), Stella Loke (Group Executive Director), Datuk Tan Kok Liang (Indipendent Non-Executive Director), Dato' Hj Hamzah bin Haji Ghazalli (Independent Non-Executive Chairman), Datuk Dr Gordon Loke (Group Managing Director/CEO), Chua Chai Hua (Independent Non-Executive Director), Lim Guik Moi (Independent Non-Executive Director), Harjeet Singh (Chief Financial Officer), and Azlan Khalid (Chief Operating Officer). Kota Kinabalu: Sabah-based property developer KTI Landmark Berhad (KTI:0308) registered a profit after tax of RM8.5 million for the financial year ended 31 December 2024 (FY2024), as it marked a key milestone with its first 2025 Annual General Meeting (AGM) since listing on the ACE Market of Bursa Malaysia in June last year. The KTI Landmark Berhad reported RM175.4 million in revenue for FY2024, supported by total sales of RM267.8 million and unbilled sales amounting to RM294.4 million. Despite incurring RM1.96 million in listing-related expenses, the company delivered a stable bottom line, highlighting the resilience of its core operations and the strength of its development pipeline. As of year-end, KTI's outstanding order book stood at RM214 million, with a total gross development value (GDV) of RM2.73 billion, including hospitality and retail assets. Addressing shareholders during 2025 AGM at Hilton Kota Kinabalu here, Thursday, KTI Group Chairman Dato' Haji Hamzah Ghazalli reflected on the company's evolution from a local construction firm founded in 1984 to one of Sabah's most recognised developers. 'Our IPO was not just about raising capital. It represented a new chapter of governance, visibility and investor confidence,' he said. He highlighted recent key developments such as Ayuria Place, a residential project built using environmentally friendly Industrialised Building Systems (IBS) and The Logg in Luyang, a mixed-urban development that combines residential, retail, and commercial offerings. Advertisement KTI Landmark Berhad's operations in FY2024 saw the launch and progress of several residential and commercial projects, particularly in growth corridors like Kota Kinabalu and Sandakan. These efforts reflect the company's strategic focus on sustainable, integrated and affordable housing solutions for Sabahans. With urbanisation and demographic trends driving demand, KTI continues to work with government-linked entities such as Lembaga Pembangunan Perumahan Dan Bandar (LPPB) and national affordable housing programmes like Perumahan Penjawat Awam Malaysia (PPAM) to meet the state's housing needs. The company's annual report also noted a strong rebound in Malaysia's construction sector in 2024, led by public infrastructure and housing initiatives. With national data showing double-digit growth in the sector, KTI is positioning itself to benefit from these tailwinds by embedding sustainability and digital innovation in its operations. This includes the use of green construction methods, smart home features, and digital sales platforms aimed at younger, tech-savvy buyers. KTI Landmark Berhad's shares closed at RM0.410 on Tuesday, giving the company a market capitalisation of approximately RM328 million. Since listing, the company has seen steady investor interest, underpinned by confidence in its long-term strategic direction and alignment with government housing policies. Looking ahead, KTI plans to continue expanding its landbank in urbanising areas across Sabah, diversify its partnerships to enhance margins, and reinforce its ESG (Environmental, Social and Governance) leadership. These steps are part of its broader strategy to deliver value for stakeholders while shaping the property landscape of Sabah. 'To our employees, shareholders and partners, thank you for your trust. We remain committed to creating a sustainable, prosperous future for Sabah and beyond,' said Hamzah. Founded in 1984, KTI Landmark Berhad is a Sabah-based property developer specialising in integrated and affordable housing. The Group was listed on the ACE Market of Bursa Malaysia in June 2024. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
Daily Express
7 days ago
- Business
- Daily Express
KTI Landmark posts RM8.5 mil profit in FY2024, holds first AGM since IPO
Published on: Thursday, May 29, 2025 Published on: Thu, May 29, 2025 By: Larry Ralon Text Size: Hamzah (middle) talking to the media after the AGM. KOTA KINABALU: Sabah-based property developer KTI Landmark Berhad (KTI:0308) reported a profit after tax of RM8.5 million for the financial year ended 31 December 2024, alongside RM175.4 million in revenue, marking a key milestone with its first AGM since listing on the ACE Market in June 2024. The Group recorded RM267.8 million in total sales and RM294.4 million in unbilled sales, maintaining a solid performance despite RM1.96 million in listing-related expenses. As of year-end, its outstanding order book stood at RM214 million with a total GDV of RM2.73 billion. Chairman Dato' Haji Hamzah Ghazalli highlighted KTI's transformation since its 1984 founding, recent eco-friendly projects like Ayuria Place and The Logg in Luyang, and strategic partnerships with LPPB and PPAM to meet housing demand in Sabah. KTI is leveraging Malaysia's construction sector rebound, driven by public infrastructure and housing, by integrating sustainability, green building methods, and digital innovation into its developments. With shares closing at RM0.410 and a market cap of RM328 million, KTI aims to expand its landbank, diversify partnerships, and strengthen its ESG leadership as part of its long-term strategy to shape Sabah's property landscape. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
Daily Express
28-05-2025
- Business
- Daily Express
Kota Kinabalu-Labuan ferry service resumes
Published on: Wednesday, May 28, 2025 Published on: Wed, May 28, 2025 By: Larry Ralon Text Size: Hajiji said the ferry service is expected to have a positive impact on State's tourism, especially in the lead-up to Visit Sabah Year 2026. Kota Kinabalu: The passenger ferry service between Kota Kinabalu and Federal Territory of Labuan has resumed after being suspended during Covid-19, strengthening maritime transport links and reopening a vital route for public mobility and inter-regional economic growth. Chief Minister Datuk Seri Hajiji Noor said the resumption is not merely a logistical move but a clear signal of the Government's concern for the welfare of the people in Sabah and Labuan. 'This service is very important to the people. It is not just a transport route, but a connector of families, education, tourism and business that has long existed,' he said when launching the service at the port, here, Tuesday. He said the disruption was due to several factors, including unsafe jetty structures, withdrawal of fuel subsidies for operators and the impact of the Covid-19 pandemic. As an immediate solution, the ferry terminal was relocated from Jesselton Point to Kota Kinabalu Port, with the operations now fully managed by the Kota Kinabalu Port authority. 'This project also received an allocation of RM1.3 million from the Federal Territories Ministry for improvement works. Advertisement 'I express my appreciation to all agencies involved, including the Internal Affairs and Research Office (PHEDNP), Sabah Ports Authority (LPPS), Works Ministry, Federal Territories Ministry and the Suria Group, who have worked together to realise this initiative,' he said. Hajiji said the ferry service is expected to have a positive impact on State's tourism, especially in the lead-up to Visit Sabah Year 2026. 'It also opens up new opportunities in trade and investment between Sabah and Labuan,' he said. He stressed that Sabah and Labuan have a shared history, culture and deep social connections, making this route highly significant for the people of both regions. He said many Sabahans work and live in Labuan, and vice versa. Therefore, the reconnection of the route is meaningful for many. He added that with the resumption, the public has more transport options — via air, overland to Menumbok or directly by express ferry from Kota Kinabalu to Labuan as before. Hajiji said the launch also marks the beginning of a more robust, efficient and sustainable maritime transport framework, in line with the State's aspiration to provide people-friendly and environmentally-friendly facilities for future generations. He assured that the State Government is committed to ensuring no one is left behind due to logistical constraints and that infrastructure development will continue to be driven for inclusive progress. Also present were Minister in the Prime Minister's Department (Federal Territories) Datuk Seri Dr Zaliha Mustafa, Sabah Works Minister Datuk Ir Shahelmey Yahya, Senator Tan Sri Anifah Aman and other leaders. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
Daily Express
27-05-2025
- Business
- Daily Express
KK-Labuan ferry service resumes after long hiatus
Published on: Tuesday, May 27, 2025 Published on: Tue, May 27, 2025 By: Larry Ralon Text Size: Hajiji and Dr Zaliha visiting the jetty area after launching the jetty and the Kota Kinabalu-Labuan Passenger Ferry Service at the Kota Kinabalu Port. KOTA KINABALU: The passenger ferry service between Kota Kinabalu and Labuan has resumed after several years of suspension, restoring a vital transport link for public travel and regional economic activity. Chief Minister Datuk Seri Hajiji Noor said the revival reflects the Government's commitment to public welfare, highlighting the route's importance for families, education, tourism, and business. The service was previously halted due to unsafe jetty conditions, subsidy cuts, and the Covid-19 pandemic. Operations have now shifted from Jesselton Point to Kota Kinabalu Port, overseen by the port authority, with RM1.3 million allocated for upgrades. Hajiji thanked the involved agencies for their cooperation. Several federal and state leaders were present at the launch. * Read full report in tomorrow's print paper or log in or sign up for e-paper and premium online news access. * Follow us on Instagram and join our Telegram and/or WhatsApp channel(s) for the latest news you don't want to miss. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
Daily Express
18-05-2025
- Business
- Daily Express
Hundreds million lost to landslides
Published on: Sunday, May 18, 2025 Published on: Sun, May 18, 2025 By: Larry Ralon, Ricardo Unto Text Size: Hajiji visiting Jalan Keningau-Kimanis that was closed due to landslides at KM14.3 and KM11.2, on March 20, 2025. THE Sabah Government has reaffirmed its commitment to addressing landslide-related infrastructure damages, with a total expenditure exceeding RM355 million. Slope repairs on State and Federal roads over the last three years have cost the State RM355 million. CM Hajiji said Sabah continues to work closely with the Federal Government to mitigate the impact of landslides and road collapses, which have become more frequent due to heavy rains and extreme weather conditions. Advertisement 'The Sabah Government, through the Public Works Department (JKR), has identified 100 locations for large-scale slope repairs under the 12th Malaysia Plan (12MP) from 2021 to 2025, with an estimated total cost of RM566.34 million,' he said. However, due to budget constraints and staggered approvals, only RM31.38 million has been spent on 10 large-scale projects under 12MP, while RM168.19 million was allocated for 50 projects under the Disaster Prevention, Repair and Restoration Programme (Program Mencegah, Memperbaiki, dan Memulihkan Kerosakan Akibat Banjir/Ribut – Cerun). 'The financial burden is significant, and we are working with the Federal Government to ensure continuous funding for these essential infrastructure repairs,' said Hajiji. For small-scale slope failures along major State roads, an estimated RM25 million was required for repairs at 100 locations from 2021 to 2023. However, only RM13.68 million was approved, covering 79 locations. Advertisement At the Federal level, RM99.22 million was allocated for 17 large-scale slope repairs on Federal roads, with an additional RM43.04 million spent on small-scale repairs across 149 locations in Sabah. The total cost borne by the Sabah Government for slope repairs between 2021 and 2023 amounted to RM213.25 million, while the Federal Government contributed RM142.26 million. Hajiji emphasised that ensuring road safety and preventing further infrastructure failures remain top priorities for the State. 'We must continue to invest in slope stability and road infrastructure resilience to prevent future disasters and safeguard the lives of Sabahans,' he said. The Chief Minister also urged the Federal Government to expedite additional funding under 12MP to ensure timely completion of critical repair projects, particularly in landslide-prone areas. With climate change increasing the risk of extreme weather events, Hajiji reiterated that proactive measures must be taken to enhance the durability of Sabah's road network and protect communities from future landslide disasters. Ample food during disasters SABAH'S food supply remains sufficient, even in the face of natural disasters such as floods that have impacted the region's already low rice production, with adequate stockpiles in place. 'We have made comprehensive preparations to guarantee food availability in the event of a disaster. Sabah's Self-Sufficiency Level (SSL) for various crops is above 100 per cent, except for rice, which remains at only 22.8pc,' said CM Hajiji. He is confident establishment of the Sabah Padi and Rice Board (LPBS) would play a crucial role in boosting local's production, reducing reliance on imports and improving overall food security. 'To address our low rice SSL, the Sabah Agriculture, Fisheries and Food Industry Ministry is committed to increasing rice production through various initiatives. The Sabah Padi and Rice Board will help strengthen this effort,' he said. LPBS was officially launched on May 10, 2025, with the primary objective of achieving the State Government's target of increasing Sabah's rice SSL to 30pc by next year and 60pc by 2030. Hajiji said various initiatives will be implemented through the reactivation of LPBS to ensure Sabah's food security, meet the people's food demand and reduce dependency on imported rice. 'Currently, Sabah can only produce about 22.8pc of its local rice needs, resulting in heavy reliance on imported rice to meet demand,' he said. LPBS will take over all padi cultivation development and management from the State Agriculture Department starting this year. 'LPBS is also entrusted with the role of regulatory body for the development and management of padi cultivation. Therefore, I urge all relevant State agencies to fully cooperate with LPBS,' he said. To improve SSL, the Chief Minister said the State Government will focus on the development and management of padi cultivation in six districts – Kota Marudu, Tuaran, Tambunan, Keningau, Papar and Kota Belud. The total padi field area in these districts is 22,218.35 hectares or 55,879 acres, involving 16,018 farmers. Besides reactivating LPBS, Hajiji said the State Government is also undertaking other initiatives, including promoting hill padi cultivation. 'I call on all hill landowners to develop their land with high-quality hill padi. It is estimated that 13,266ha (32,767 acres) of hill land are suitable for padi cultivation, involving 15,617 farmers,' he said. The Chief Minister said that if this area is fully developed, it has the potential to produce 30,424 metric tonnes of hill rice annually. Like Sarawak, which is known for its Bario rice, Sabah also has its own hill rice varieties, namely Adan rice from Long Pasia, Sipitang, as well as from Ranau, Kudat and Pitas, which are increasingly popular in the local market, he said. Hajiji also urged government-linked companies (GLCs) to develop their idle land for padi cultivation. 'I assure you that the State Government remains committed to developing idle padi fields and increasing local rice yield and production,' he said. Hajiji encouraged farmers to take advantage of the Rice Crop Takaful Scheme, which provides coverage for padi farmers nationwide. Under this scheme, Malaysian padi farmers aged 18 and above, who cultivate rice in designated areas, are registered under the Federal Government Fertiliser Scheme, and have an Agrobank account, will be protected against crop damage due to natural disasters, pest infestations and diseases. Hajiji assured the public that rice stock levels in Sabah are closely monitored and managed by Padiberas Nasional Berhad (Bernas), which has already prepared sufficient reserves to handle emergencies, particularly during floods.
