SHAH ALAM: Property developer I-Bhd posted an increase of 172.11% in pre-tax profit to RM4mil in the fourth quarter ended Dec 31,2020, from RM1.47mil in the same quarter of the previous 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.