Latest news with #RM20.5mil
The Star
22-05-2025
- Business
- The Star
UEM Sunrise posts strongest 1Q profit since 2019
UEM Sunrise officer-in-charge and chief financial officer Hafizuddin Sulaiman. PETALING JAYA: UEM Sunrise Bhd posted a profit after tax and non-controlling interests (Patanci) of RM20.5mil for the first quarter ended March 31, 2025 (1Q25), representing a 150% increase from the RM8.2mil recorded in the same quarter last year. Revenue rose 86% year-on-year (y-o-y) to RM417.6mil from RM225mil in 1Q24, driven by stronger contributions from ongoing developments. The property developer said The MINH, Serene Heights, Residensi ZIG, Residensi AVA from the central region, coupled with Senadi Hills, Aspira Hills and Aspira LakeHomes from the southern region, all recorded steady operational progress. 'Sales progress remained strong, with RM370.6mil recorded during the quarter vis-a-vis RM232.6mil a year ago. This uptick was driven by successful launches and steady demand for ongoing developments. 'The central region led performance with RM201.2mil (54.3%) from 222 units sold, while the southern region contributed RM169.4mil (45.7%) from 260 units, bringing the total units sold in 1Q25 to 482.' UEM Sunrise attributed the stronger financial and operational performance to sustained focus on execution, enhanced project delivery and ongoing transformation initiatives aimed at strengthening operational efficiency. Hafizuddin Sulaiman, officer-in-charge and chief financial officer of UEM Sunrise, said this was the group's strongest 1Q Patanci since 2019. 'These results reflect the strength of our foundations and our ability to deliver, even in a dynamic market. 'The progress we are making is the outcome of disciplined execution, a sharper focus on operational excellence and our transformation journey to be a thoughtful master planner and innovative developer in delivering sustainable long-term value for our home purchasers and stakeholders.' UEM Sunrise also said it maintained a healthy financial position, with cash and bank balances including short-term investments amounting to RM1.56bil as at March 31, 2025, up 55% from RM1.01bil a year ago. 'Unbilled sales rose to RM3.02bil, offering earnings visibility for the next 18 to 36 months. Inventories declined to RM89.3mil from RM118.2mil in 1Q24. Net gearing improved to 0.41 times from 0.47 times y-o-y.'
The Star
22-05-2025
- Business
- The Star
UEM Sunrise posts best 1Q profit since 2019, up 150% to RM20.5mil
UEM Sunrise officer-in-charge and chief financial officer Hafizuddin Sulaiman PETALING JAYA: UEM Sunrise Bhd posted a profit after tax and non-controlling interests (patanci) of RM20.5mil for the first quarter ended March 31, 2025 (1Q25), representing a 150% increase from RM8.2mil recorded in the same quarter last year. Revenue rose 86% year-on-year to RM417.6mil from RM225mil in 1Q24, driven by stronger contributions from ongoing developments. The property developer said The MINH, Serene Heights, Residensi ZIG, Residensi AVA from the Central region, coupled with Senadi Hills, Aspira Hills and Aspira LakeHomes from the Southern region, all recorded steady operational progress. 'Sales progress remained strong, with RM370.6mil recorded during the quarter vis-a-vis RM232.6mil a year ago. This uptick was driven by successful launches and steady demand for ongoing developments. 'The Central region led performance with RM201.2mil (54.3%) from 222 units sold, while the Southern region contributed RM169.4 million (45.7%) from 260 units, bringing the total units sold in 1Q25 to 482.' UEM Sunrise attributed the stronger financial and operational performance to sustained focus on execution, enhanced project delivery and ongoing transformation initiatives aimed at strengthening operational efficiency. Hafizuddin Sulaiman, officer-in-charge and chief financial officer of UEM Sunrise said this was the group's strongest 1Q patanci since 2019. 'These results reflect the strength of our foundations and our ability to deliver, even in a dynamic market. 'The progress we are making is the outcome of disciplined execution, a sharper focus on operational excellence and our transformation journey to be a thoughtful master planner and innovative developer in delivering sustainable long-term value for our home purchasers and stakeholders.' UEM Sunrise also said it maintained a healthy financial position, with cash and bank balances including short-term investments amounting to RM1.56bil as at March 31, 2025, up 55% from RM1.01bil a year ago. 'Unbilled sales rose to RM3.02bil, offering earnings visibility for the next 18 to 36 months. Inventories declined to RM89.3mil from RM118.2mil in 1Q24. 'Net gearing improved to 0.41 times from 0.47 times year-on-year.'
