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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.'
New Straits Times
28-05-2025
- Business
- New Straits Times
OSK posts 9pct revenue growth in Q1 2025, supported by diversified segments
KUALA LUMPUR: OSK Holdings Bhd recorded a 9 per cent year-on-year rise in revenue to RM400.6 million for the first quarter ended March 31, 2025 (Q1 2025), while pre-tax profit held steady at RM140 million, underpinned by its diversified portfolio. Group executive chairman Tan Sri Ong Leong Huat said, "Despite the challenging operating environment, our diversified business model has enabled us to sustain earnings and strengthen our fundamentals across key segments." The financial services segment saw revenue jump 27 per cent to RM67.9 million, with pre-tax profit rising 18 per cent to RM30.9 million, driven by loan portfolio growth in Malaysia and Australia. Outstanding loans rose to RM2.4 billion from RM1.7 billion a year ago. The investment holdings division posted a pre-tax profit of RM73.7 million, up from RM68.5 million, supported by stronger contributions from RHB Group. Revenue in the industries segment surged 41 per cent to RM120.8 million, though pre-tax profit slipped to RM5.7 million due to costs tied to newly acquired cable factories in Johor Bahru. Excluding those, segment profit stood at RM12 million. OSK said it is upgrading its Melaka facilities to boost capacity. The IBS division continues to generate steady revenue amid consistent demand. The property segment recorded revenue of RM188.5 million and pre-tax profit of RM31.2 million, down from RM204.7 million and RM36.9 million, respectively, in Q1 2024, due to the absence of a high-margin project. OSK is maintaining momentum in its property development activities, with upcoming launches on track and efforts focused on meeting construction milestones while managing costs. As of March 31, 2025, the group's unbilled sales stood at RM1.2 billion, with a minimal level of unsold completed stock, reflecting sustained demand. The group holds a 2,083-acre land landbank with an estimated effective gross development value (GDV) of RM17.7 billion across key regions in Malaysia and Australia. Meanwhile, the group's property investment division continued to generate stable income from its office and retail portfolios. The hospitality segment posted RM23.4 million in revenue for Q1 2025 with a pre-tax loss of RM1.5 million, compared to a smaller loss of RM0.7 million last year. The higher loss was attributed to ongoing refurbishments at Swiss-Garden Beach Resort Kuantan, which temporarily impacted revenue from F&B and MICE segments.
