Latest news with #RM26.62
The Sun
a day ago
- Business
- The Sun
I-Berhad posts strong Q2 results, sees AI and robotics as new engines for growth
PETALING JAYA: I-Berhad, the developer of i-City in Selangor, reported another strong quarter for the financial period ended June 30, 2025 (Q2'25), reinforcing the group's transformation into a recurring income-centric enterprise. For the quarter under review, the group recorded revenue of RM62.3 million and profit before tax (PBT) of RM14.26 million, driven by solid performance across its core business segments – leisure and hospitality, property development, and property investment. Cumulatively, for the first half of FY2025, revenue stood at RM124.35 million and PBT at RM26.62 million. Recurring income segments, comprising property investment and leisure and hospitality, contributed 67% of total PBT for H1'25, underscoring the group's strategic pivot towards stable, asset-backed earnings. The leisure and hospitality segment remained the largest revenue generator for the second consecutive quarter, contributing RM28.6 million in revenue and RM4.77 million in PBT, a 61% increase from the preceding quarter. Key drivers included WynSnow at Wyndham Suites KLCC and strong performances from the DoubleTree by Hilton i-City and Wyndham Garden i-City hotels, supported by increased foot traffic during the Hari Raya and school holiday periods. The property development segment delivered RM26.64 million in revenue and RM5.66 million in PBT, driven by steady sales and construction progress at BeCentral Residences Towers 1 and 2. As of June 30, 2025, unbilled sales stood at RM90.36 million, providing strong earnings visibility. The property investment segment continued to provide stable returns, contributing RM6.45 million in revenue and RM4.79 million in PBT. Performance was supported by high occupancy and yield optimisation at Mercu Maybank and Central i-City Mall, alongside higher car park revenue and evolving tenant strategies. Executive chairman Tan Sri Lim Kim Hong said:, 'This quarter's results reflect the group's continued discipline in building a resilient, recurring income base while executing on our longer-term roadmap to elevate i-City as Malaysia's leading smart lifestyle destination. Each segment is delivering as intended, whether through stability, growth, or innovation, and this balanced approach gives us the agility to navigate evolving market dynamics.' I-Bhd has commenced a RM10 million artificial intelligence (AI) and smart automation programme, now being deployed across its income-generating assets. Integrated through the proprietary i-City SuperApp and supported by global tech partnerships, this initiative will enable predictive maintenance, optimise energy and visitor flow, and elevate tenant and customer experiences. To accelerate its vision for i-City as a hub for AI and robotics, I- Berhad is collaborating with Agibot, one of China's foremost robotics innovators, backed by Tencent, LG and The strategic alliance marks a bold step in I- Berhad's evolution beyond property, repositioning it as a next-generation, innovation-led group at the intersection of real estate, AI and robotics. By embedding technology into its ecosystem, I- Berhad is building new engines for growth and unlocking long-term value for shareholders. 'This AI and robotics strategy isn't just about enhancing what we have. It is about creating what is next. Through embodied AI systems and strategic partnerships, I-Berhad is unlocking new growth pathways and positioning itself at the forefront of the industries being reshaped by intelligent automation,' said Lim.
New Straits Times
a day ago
- Business
- New Straits Times
AI-driven strategy propels I-Berhad's strong Q2 performance
KUALA LUMPUR: I-Berhad, master developer of i-City, delivered another strong performance in the second quarter ended June 30, 2025 (Q2 FY2025), reinforcing its transformation into a recurring income-focused enterprise. Quarterly revenue rose to RM62.3 million, while pre-tax profit came in at RM14.26 million, driven by steady contributions from its leisure, hospitality, property development, and property investment segments. For the first half of FY2025, the group posted total revenue of RM124.35 million and pre-tax profit of RM26.62 million, underscoring the resilience of its diversified business model and the growing returns from its income-generating assets. The property investment and leisure and hospitality contributed 67 per cent of total pre-tax profit, underscoring the group's deliberate pivot towards stable, asset-backed earnings that can weather market storms. The leisure and hospitality segment remained the largest revenue generator for the second consecutive quarter, contributing RM28.6 million in revenue and RM4.77 million in pre-tax profit – a 61 per cent increase from the preceding quarter. Key drivers included WynSnow at Wyndham Suites KLCC and strong performances from the DoubleTree by Hilton i-City and Wyndham Garden i-City hotels, supported by increased foot traffic during the Hari Raya and school holiday periods. The property development arm proved its resilience with RM26.64 million in revenue and RM5.66 million in pre-tax profit, backed by steady demand for BeCentral Residences Towers 1 & 2. With RM90.36 million in unbilled sales secured as of June 30, earnings visibility remains solid and confidence high. Meanwhile, the property investment portfolio stayed true to its role as the Group's steady anchor, generating RM6.45 million in revenue and RM4.79 million in pre-tax profit. High occupancy and yield optimisation at Mercu Maybank and Central i-City Mall – coupled with higher car park takings and refined tenant strategies – kept returns firmly on track. Executive chairman Tan Sri Lim Kim Hong said, "This quarter's results reflect the Group's continued discipline in building a resilient, recurring income base while executing on our longer-term roadmap to elevate i-City as Malaysia's leading smart lifestyle destination. Each segment is delivering as intended, whether through stability, growth, or innovation, and this balanced approach gives us the agility to navigate evolving market dynamics." Lim said the next chapter is already being written – one powered by artificial intelligence (AI) and robotics. I-Berhad has launched a RM10 million AI and smart automation programme across its income-generating assets. Integrated through the i-City SuperApp and bolstered by global tech partnerships, the system will deliver predictive maintenance, energy optimisation, visitor flow mastery, and richer tenant and customer experiences. The group has also forged a strategic alliance with Agibot – one of China's robotics trailblazers, backed by Tencent, LG, and This strategic alliance marks a bold step in I-Berhad's evolution beyond property, repositioning the Group as a next-generation, innovation-led Group at the intersection of real estate, AI, and robotics. By embedding technology into its ecosystem, I-Berhad is building new engines for growth and unlocking long-term value for shareholders. "This AI and Robotics strategy isn't just about enhancing what we have. It is about creating what is next. Through embodied AI systems and strategic partnerships, I-Berhad is unlocking new growth pathways and positioning itself at the forefront of the industries being reshaped by intelligent automation," said Lim.
The Sun
2 days ago
- Politics
- The Sun
Selangor allocates RM26.62m aid to 873 schools for 2025
KLANG: The Selangor government has allocated RM26.62 million to 873 schools under the 2025 Selangor State School Assistance Programme. Sekolah Agama Rakyat received the highest allocation of RM11 million, followed by Chinese national-type schools with RM6 million. Tamil national-type schools were granted RM5 million, while Chinese independent schools received RM2 million. National primary and secondary schools were allocated RM1.62 million, with mission schools and national-type secondary schools each receiving RM1 million. Menteri Besar Datuk Seri Amirudin Shari stated that the funds can be used for infrastructure repairs to improve learning environments. He noted that the latest allocation reflects an increase of RM124,000 compared to previous years. Since 2019, the state has disbursed a total of RM311.92 million in school assistance. 'The increase is to meet the needs of national schools and Tamil national-type schools,' Amirudin said. He added that assistance has also been extended to the association of Tamil school principals and headmasters. On bullying, Amirudin said the state has instructed JAIS-administered schools to curb such behaviour. He emphasised a dual approach to tackling unhealthy behaviours, including drug abuse, focusing on physical and social aspects. 'For non-JAIS schools, we will coordinate with the State Education Department as they fall under federal jurisdiction,' he said. The state will support additional measures if necessary to enhance student safety. - Bernama
Barnama
2 days ago
- Politics
- Barnama
Selangor Allocates Over RM26 Mln In Aid To 873 Schools
KLANG, Aug 13 (Bernama) -- The Selangor government has allocated RM26.62 million to 873 schools in the state under the 2025 Selangor State School Assistance Programme. Of the total, Sekolah Agama Rakyat (People's Religious Schools) received the largest allocation of RM11 million, followed by Chinese national-type schools (RM6 million), Tamil national-type schools (RM5 million), Chinese independent schools (RM2 million), national primary schools and national secondary schools (RM1.62 million) as well as mission schools and national-type secondary schools, each with RM1 million. Menteri Besar Datuk Seri Amirudin Shari said the funds could be utilised for various purposes, including repairing infrastructure to provide a more conducive learning environment. He said the latest allocation marks an increase of RM124,000, bringing the total assistance disbursed for the same purpose since 2019 to RM311.92 million. 'The increase is to meet the needs of national schools, and for Tamil national-type schools. We have also extended assistance to the association of Tamil school principals and headmasters,' he told reporters after the handover ceremony here today. Commenting on the bullying issue, Amirudin said the state government has instructed schools under the administration of the Selangor Islamic Religious Department (JAIS) to curb such behaviour and ensure a safe environment for students. He added that his administration's approach to preventing unhealthy behaviours, including drug abuse among students, focuses on the physical as well as the social aspects. 'I will first look into schools under JAIS, while for the rest, we will try to liaise with the State Education Department, as they fall under the Education Ministry's jurisdiction. The state will only assist in enhancing measures taken, if necessary,' he said. -- BERNAMA
