Latest news with #SouthernScore
The Star
14 hours ago
- Business
- The Star
Southern Score gets RM19mil infrastructure contract
PETALING JAYA: Southern Score Builders Bhd has accepted a letter of award from Sunway Construction Sdn Bhd to undertake a subcontract project described as for supply, installation, testing and commissioning of electrical, telco and security underground infrastructure works worth a total of RM19.31mil. In a filing with Bursa Malaysia, the construction management specialist said the commencement date of the project shall be on July 28, 2025 and the expected completion will be on Dec 31, 2025. Southern Score said it may postpone or defer the project or any section thereof, up to a maximum period of six months. The company said the project is expected to contribute positively to its net assets and earnings per share for the financial year ending June 30, 2026 onwards until the completion of the project.
The Star
a day ago
- Business
- The Star
Southern Score secures RM19.3mil underground infra job
PETALING JAYA: Southern Score Builders Bhd has accepted a letter of award from Sunway Construction Sdn Bhd to undertake a subcontract project described as for supply, installation, testing and commissioning of electrical, telco and security underground infra works worth RM19.31mil. In a filing with Bursa Malaysia, the construction management specialist said the commencement date of the project shall be on July 28, 2025, and the expected completion shall be on Dec 31, 2025. Southern Score said it may postpone or defer the project or any section thereof, up to a maximum period of six months. The company said the project is expected to contribute positively to its net assets and earnings per share for the financial year ending June 30, 2026, onwards until the completion of the project.
The Star
12-08-2025
- Business
- The Star
Southern Score targets 46% profit growth by FY27
PETALING JAYA: Southern Score Builders Bhd is expected to deliver a strong 46% net profit compounded annual growth rate over financial year 2024 (FY24) to FY27. This is supported by a RM1.3bil order book, recurring job flows from both prominent developers and a growing footprint in the data centre (DC) space. Phillip Research initiated coverage on the stock with a 'buy' rating and target price of 75 sen a share, based on 18 times FY27 earnings per share. The shares were last traded at 60 sen. While the group's current involvement in DC projects is primarily concentrated in the power distribution segment, Phillip sees potential for the group to move up the value chain as a turnkey contractor. This would allow deeper participation in Malaysia's fast-expanding DC development pipeline, reinforcing its view of a sustained valuation rerating. Among the key downside risks cited by the research house are slower-than-expected order book replenishment, unforeseen project cost overruns and delays. Southern Score has also consistently declared one sen dividend per share (DPS) since FY23, with a payout ratio of 60% to 90%. Phillip projects DPS to rise to two sen from FY26 onwards, translating to a 50% to 60% dividend payout ratio and a dividend yield of 3%. The group offers end-to-end turnkey solutions from project planning, design coordination and construction execution, suited to serve emerging landowners and developers lacking in-house delivery capabilities. Southern Score's close affiliation with Platinum Victory (PV) and Radium Development Bhd , has supported a steady pipeline of recurring projects and strengthened long-term order book visibility. Since FY19, the group has secured over RM2bil worth of projects from PV, or about 50% of PV's total awards. With PV holding over 200 acres of land across prime Klang Valley locations, including Setapak, Cheras, Ampang, Sungai Besi and Mont Kiara, its RM20bil gross development value pipeline supports a consistent RM1.5bil to RM2bil annual launch cadence over the next decade. This translates to roughly RM1bil in annual construction opportunities, or RM5bil cumulatively over the next five years, based on Southern Score's existing wallet share. Southern Score recently secured a RM78mil contract for detention pond upgrading works from Radium, marking its maiden job win from this related-party developer. This maiden contract signals the start of a potentially recurring project flow from Radium, as Radium is ramping up its landbanking efforts in Klang Valley. Phillip estimated these developments could translate into RM2bil worth of construction opportunities over the near-term, offering meaningful upside as Southern Score expands its footprint across the extended group.
The Sun
30-05-2025
- Business
- The Sun
Southern Score posts best-ever 9M earnings, eyes Bursa main market transfer
KUALA LUMPUR: Southern Score Builders Bhd, a construction management specialist for high-rise residential buildings and civil infrastructure, posted a revenue of RM59.8 million for the third quarter (Q3) ended March 31, 2025 (FY25), surging 52.1% from RM39.4 million posted in Q3 FY24. Net profit also grew by 39.4% year-on-year (YoY) to RM10.0 million, up from RM7.2 million in Q3 FY24. For the nine-month (9M) of FY25, Southern Score recorded a revenue of RM140.0 million, representing a YoY increase of RM32.9 million or 30.7% from RM107.1 million in the 9M FY24. The double-digit growth was driven mainly by the group's mechanical and electrical (M&E) arm, SJEE Engineering Sdn Bhd's (SJEE) maiden contribution as well as higher revenue from turnkey construction services following the commencement of the Platinum Melati Residences project. At the bottom line, net profit jumped 53.8% YoY to RM28.6 million, up from RM18.6 million in 9M FY24. The growth was attributed to cost savings from the main building work projects of Vista Harmoni Sentul Residences and PV 22 Residences. Notably, this marks Southern Score's highest-ever net profit for a nine-month period. Executive director and CEO Gan Yee Hin said the company delivered its best-ever nine-month bottom-line performance. 'This was partly driven by the maiden contribution from our M&E arm — a clear indication that our investment is already yielding results. 'Looking ahead, we continue to be upbeat on the prospects as we see vast opportunities for both our construction and M&E divisions,' he said. Gan also noted that the Department of Statistics Malaysia reported that the value of work done in the construction sector continued its upward trend, recording a moderate increase of 16.6% to RM42.9 billion in the first quarter of 2025. Meanwhile, the Malaysian data centre market is projected by Arizton Advisory & Intelligence to reach US$13.6 billion by 2030 from US$4.0 billion in 2024. On top of that, the Johor-Singapore Special Economic Zone (JS-SEZ) opens up new opportunities for us as it is attracting interest from multinational corporations, particularly in the medical, pharmaceutical, and artificial intelligence (AI) sectors, which are exploring potential investments in the area. 'These positive developments bode well for the group, and with our technical expertise and proven track record, we are well-positioned to seize the opportunities ahead,' Gan said. To recap, SJEE had in April 2025 secured a RM51.4 million M&E contract for a data centre project at Elmina Business Park, Selangor. 'This boosted the order book of our M&E arm to RM105.7 million, while the order book for the construction segment stands at RM1.3 billion as of end-April 2025. 'This gives us clear earnings visibility in the coming years,' said Gan. On the corporate front, Gan said the group had proposed in March 2025 to undertake the transfer of the listing and quotation for Southern Score's entire issued share capital from the ACE Market to the Main Market of Bursa Malaysia. 'The transfer represents another major milestone for everyone at SSBB. We believe this exercise will enhance the group's corporate profile, credibility, and reputation, while according Southern Score a greater recognition and following amongst institutional investors. 'Besides, the transfer would boost the confidence of all our stakeholders and better reflect our group's current scale of operations,' said Gan. Southern Score board expects the transfer to be completed within the second half of 2025, barring any unforeseen circumstances and subject to all required approvals being obtained. Gan said the group had proposed in March 2025 to undertake the transfer of the listing and quotation for Southern Score's entire issued share capital from the ACE Market to the Main Market of Bursa Malaysia.
