Latest news with #OSKGroup
The Sun
28-05-2025
- Business
- The Sun
OSK Holdings pleased with solid start to FY25
PETALING JAYA: OSK Holdings Bhd reported revenue of RM400.6 million for the first quarter ended March 31, 2025 (Q1'25), a 9% increase compared to the same period last year. Pre-tax profit remained stable at RM140 million, reflecting the continued contribution of its diversified portfolio and prudent management strategies. 'We are pleased with the solid start to the year and strong fundamentals across most core segments. Despite the challenging operating environment, our diversified business model has enabled us to sustain earnings and strengthen our fundamentals across key segments,' said OSK Group executive chairman Tan Sri Ong Leong Huat. The financial services segment delivered a robust performance with a 27% year-on-year increase in revenue to RM67.9 million and an 18% rise in pre-tax profit to RM30.9 million in Q1'25. This performance was mainly supported by the expansion of the loan portfolio in both Malaysia and Australia. As of March 31 2025, total outstanding loans stood at RM2.4 billion, up from RM1.7 billion in the corresponding quarter of the previous year. The segment is expected to maintain its growth trajectory throughout 2025, driven by continued portfolio expansion, broader geographical reach, and the introduction of new product offerings. The investment holdings segment meanwhile reported a pre-tax profit of RM73.7 million in Q1'25, up from RM68.5 million in Q1'24, driven by higher profit contribution from RHB Group which saw an improved performance. The industries segment also saw strong growth, posting a 41% year-on-year increase in revenue to RM120.8 million in Q1'25. Pre-tax profit declined to RM5.7 million, primarily due to the refurbishment and operating costs of the two newly acquired factories under the cable division in Johor Bahru. Operations at these facilities officially commenced on March 6, and the new plants are expected to make a positive contribution to future earnings as production scales up and operational efficiencies are realised. Excluding the losses from the Johor Bahru factories, the segment posted an improved pre-tax profit of RM12.0 million, consistent with the steady revenue growth. For Q1'25, the property segment reported revenue of RM188.5 million and a pre-tax profit of RM31.2 million, compared to RM204.7 million and RM36.9 million respectively in Q1'24. As at March 31, 2025, the group's unbilled sales stood at RM1.2 billion, reflecting sustained buyer interest and the Group recorded minimal level of unsold completed stock. Ong said, 'As we move forward, we will continue building momentum by staying focused on operational excellence and strategic execution, propelling the group's growth. With the strength of our diversified portfolio and the dedication of our OSKers, we are confident of delivering satisfactory results for the remainder of 2025.'
The Star
28-05-2025
- Business
- The Star
OSK expects steady 2025 backed by core segment performance
OSK Holdings Bhd group executive chairman Tan Sri Ong Leong Huat KUALA LUMPUR: OSK Holdings Bhd is confident of delivering satisfactory results for 2025, with its property development division as a key profit driver well-positioned for strong performance. As of March 31, the group's unbilled sales stood at RM1.2bil, with minimal unsold completed inventory. OSK has a total land bank of 2,083 acres with an estimated effective gross development value of RM17.7bil, located across the Klang Valley, Kedah, Penang, Negeri Sembilan, and Melbourne, Australia. For the first quarter ended March 31 (1Q24), OSK recorded a slightly higher net profit of RM124.3 mil, up from RM122.9 mil a year earlier. Revenue rose 8.9% to RM400.6 mil against RM367.9mil while earnings per share climbed to 6.03 sen from 5.96 sen previously. 'We are pleased with the solid start to the year and strong fundamentals across most core segments. Despite the challenging operating environment, our diversified business model has enabled us to sustain earnings and strengthen our fundamentals across key segments,' OSK Group executive chairman Tan Sri Ong Leong Huat said in a separate statement. Under the industries segment, OSK said the cable division aimed to grow revenue by expanding its sales team and upgrading its Melaka factory. Operations at two newly acquired Johor Bahru factories began on March 6, 2025, with production set to ramp up progressively. 'With the new orders from the utility companies, we expect the division to continue to perform well. The IBS Division is expected to sustain its momentum, which is driven by a steady demand for its product and to provide a reliable revenue stream,' it said. OSK said its hospitality segment is set to benefit from favourable tourism trends, with visa-free travel for Chinese and Indian nationals extended to December 2026. 'In addition, the completion of the Phase 2 refurbishment at Swiss-Garden Beach Resort Kuantan in 2Q25 will enhance guest experiences by offering upgraded facilities and an expanded capacity for corporate meetings and events. 'Our partnership with international operators for the rebranded hotels, including DoubleTree by Hilton Damai Laut Resort and Holiday Inn Express & Suites in Johor Baru is also anticipated to continue to deliver improved performance as they strengthen their brands' presence and market appeal,' it said. Meanwhile, OSK said the growth in the financial services segment is expected to continue through the remainder of 2025, principally driven by the increase in loan portfolios, greater geographical coverage and new product offerings.
