PETALING JAYA: UEM Sunrise Bhd
’s net profit for its first quarter ended March 31, 2026, declined to RM16.20mil from RM20.49mil in the previous corresponding quarter, while revenue dropped to RM347.71mil from RM417.63mil a year earlier.
In a filing with Bursa Malaysia, the property developer said the decrease in revenue was mainly due to lower land sales, which declined by RM131mil as the corresponding quarter benefited from the divestment of non-strategic land in Iskandar Puteri, Johor.
“Nevertheless, property development revenue increased by 24%, primarily driven by improved sales performance and construction progress from the MINH and Connaught One in the Central region, partially offset by lower contributions from Intrika, whilst the Southern region recorded higher contributions from DiReka Square, moderated by lower contributions from Senadi Hills.
“In line with the lower revenue recognised, operating profit decreased to RM40mil from RM55mil in the corresponding quarter. Consequently, profit before interest and tax declined by 11% to RM54mil.”
