Oriental Interest eyes sustained growth with strong sales momentum


KUALA LUMPUR: Oriental Interest Bhd is set for sustained growth, supported by unbilled property sales of RM546.49mil from its ongoing projects as of the end of the reporting financial quarter.

“Based on the on-hand bookings and sales momentum, the group is optimistic about delivering another set of positive results for the financial year ending Aug 31, 2025 (FY25),” the property developer said in the notes accompanying its financial results.

In the first quarter ended Nov 30, 2024, Oriental Interest recorded a slightly lower net profit of RM15.7mil compared to RM15.8mil in the same quarter last year.

Revenue for the period rose to RM135.7mil against RM125.8mil a year prior.

Oriental Interest said despite significant challenges in both the property sector and the broader economy, the group has sustained its upward trend in revenue and pretax profit, driven by strong property sales that underscore the quality and value of its offerings.

The group currently holds 2,995 acres of strategic development lands (including land banks under landowners and developer agreements), which will support the future growth of its property development activities.

“The executive leadership continues to actively consider and acquire new land banks, given the positive long-term outlook in the property development industry and sustainable demand from first-time home buyers and the owner-occupier market for residential properties,” it said.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!
Oriental Interest , property

Next In Business News

Singapore bank UOB's Q4 profit beats forecasts, unveils US$2.2bil capital return
Trump says he will introduce 25% tariffs on autos, pharmaceuticals and chips
Ringgit opens slightly higher against US$ despite DXY gains
Local institutions prop up Bursa Malaysia amid cautious sentiment
Trading ideas: Deleum, Able Global, Eco World, Glostrext, GDB, Meta Bright, Sunzen, Maxis, Hartalega, Cahya Mata, Gas Malaysia, Ranhill Utilities, MGB, Seng Fong, MYEG
S&P 500, European shares end at record highs as markets digest earnings, tariffs
Exim Bank appoints new president, CEO
Southwest to cut 15% of corporate jobs in firm’s first-ever layoffs
OCBC client facility redefines wealth management in Malaysia
Export performance in the spotlight

Others Also Read