I-Bhd strides ahead with confidence following rebound in business


I-Bhd chairman and founder Tan Sri Lim Kim Hong

KUALA LUMPUR: I-Bhd, the master developer of i-City Golden Triangle which is Malaysia’s No. 1 Technology City, is set to stride forward with confidence as the rebound in its business activities gathers momentum.

Signs of renewed optimism and rebound are evident in all its major developments, the company said.

"Passenger traffic is back at 2019 levels of 90 per cent at Central i-City shopping mall which is a joint-venture between i-City and Thailand’s largest retail property developer, Central Pattana group.

"Following the transition to endemicity, the leisure theme park has returned to profitability, and seeing a return to its pre-pandemic foot traffic.

"The i-City Convention Centre (iCCC) is experiencing good take-up, especially on pent-up demand, as events and activities could not be held over the last two years," it said in a statement released after the company's annual general meeting (AGM) today.

Meanwhile, I-Bhd said Best Western i-City achieves occupancy of 65 per cent currently, while bookings for ballrooms and function rooms at the upcoming 300-room DoubleTree by Hilton have been taken up for the first two weeks of the hotel opening, slated for August 2022.

The 52-storey BeCentral, offering luxury homes and targeted to be launched in the third quarter of 2022 (Q3 2022), has already received encouraging bookings, while Mercu Maybank, a 33-storey Grade-A Smart Corporate Office Tower at the Finance Avenue in i-City, is 82 per cent tenanted with a strong pipeline, it added.

I-Bhd registered a pre-tax profit of RM1.7 million for Q1 2022 compared with a pre-tax loss of RM5.05 million in Q1 2021.

"We can hit the road running and would be able to see the signs of improvement within this year itself," said I-Bhd chairman Tan Sri Lim Kim Hong. - Bernama

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