Skyworld plans RM1bil worth of projects

KUALA LUMPUR: Skyworld Development Bhd plans to launch new projects in Kuala Lumpur with a total gross development value (GDV) of over RM1bil in the current financial year ending March 31, 2025 (FY25).

As of March 31, 2024, the developer’s unbilled sales amounted to RM548.1mil, providing visibility of future revenue.

Skyworld’s net profit tumbled 64.3% to RM20.7mil, or earnings per share of 2.07 sen in the fourth quarter ended March 31 compared with RM58.2mil, or 7.59 sen in the same period last year

Revenue dipped to RM158.3mil against RM225.9mil posted a year ago.

For the full FY24, it posted a net profit of RM106.9mil, down from RM143.9mil while revenue fell 18.2% to RM688.6mil versus RM841.4mil in FY23.

Skyworld has proposed to declare a final single-tier dividend of 1.0 sen per ordinary share in respect of FY24, to be paid on July 15.

“In pursuing new growth opportunities, the group will continue to scout for lands in Malaysia and Vietnam for future development.

“Despite challenges and uncertainties in both local and global economic outlook, the board is cautiously optimistic that the financial and operation performances of the group remains satisfactory in FY25,” Skyworld said in a filing with Bursa Malaysia.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Skyworld , GDV , property


Next In Business News

SIDC launches new certification programme in sustainable responsible investment
Hengyuan announces unplanned shutdown of LRCCU unit
Exim Bank, ICBC Malaysia ink MoU to jointly promote use of Chinese yuan
Neston unit bags RM21mil contract for EPCC of Sungai Selangor solar plant
Genting units ink US$1bil EPCC contract with Wison New Energies for FLNG facility
Genting unit acquires 49% stake in Zhejiang gas-fired power plant
Elite Material Co Ltd invests RM900mil in Penang manufacturing facility
Etiqa survey sheds light on Gen Z's financial struggles
Microsoft’s UK CEO says tech giant has more LinkedIn vacancies than it did before AI boom
Asian shares steady, sterling treads with caution ahead of BoE meeting

Others Also Read