I-Bhd stays profitable in 2020


KUALA LUMPUR: Property developer I-Bhd posted a pre-tax profit to RM4mil in the fourth quarter ended Dec 31, 2020, from RM1.47mil in the same quarter of last year.

For the full financial year 2020, the group posted a profit after tax of RM3.28mil, while revenue was at RM84.62mil.

In a statement, the group said its property development segment remained the largest revenue contributor, affirming its commitment towards nurturing its master-planned ultrapolis, i-City Golden Triangle (i-City GT), to be on par with leading cities around the world.

Future growth will be underpinned by the remaining 60% gross floor area of projects yet to be developed in i-City GT.

"By ensuring that the technology-related infrastructure of i-City GT is future-proof with the 400GB high availability network, connectivity in i-City GT is an added advantage with the impending deployment of 5G.

"i-City GT’s push toward being 5G-ready will ensure that it becomes the nucleus of telecommunications organisations, financial institutions and high-technology firms, as well as startup companies," said I-Bhd chairman and founder Tan Sri Lim Kim Hong.

Lim said that at i-City GT, the expansion of a data centre park to a dedicated Data Centre Zone is already in the pipeline.

"In addition to our first data centre, in operation since 2008, we have approval to build two more data centres accommodating space of 100,000 sq ft each, in which we are targeting multinational companies, financial companies and information technology firms.”

The tech-centric ultrapolis has its own mobile platform, i-City SuperApp, where functions are integrated for payments, parking and other services within the ultrapolis.

Lim said new partnerships are being forged with global technology leaders like Huawei International, HIKVision and SenseTime, in addition to the ongoing collaborations with ServCorp of Australia, Hilton Group of the US and Central Group of Thailand. Sumurwang Tower, the new Green Building Index-certified Grade-A office tower, is the latest addition in i-City GT, where the ABCs (Artificial Intelligence, Big Data, and Cloud Computing) of technology and smart features are employed.

The group’s latest residential project, BeCentral that is situated adjacent to Central i-City mall and neighbouring the DoubleTree by Hilton, employs facial recognition and QR codes for entry and car park access.

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