Latest news with #RM175.4
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
