PETALING JAYA: IOI Properties Group Bhd
(IOIPG) is confident that its property investment segment is poised to continue on an upward trajectory, supported by the improving physical occupancy levels at the group’s IOI Central Boulevard Towers and South Beach Tower in Singapore.
In tandem, the group said its recurring income portfolio has expanded significantly and is approaching the scale of its property development segment upon the inclusion of Asia Square Tower 2 (AST2), also in Singapore.
“This strengthens earnings stability and enhances resilience amid market uncertainties,” said IOIPG.
Releasing its results for the third quarter (3Q26) ended March, IOI Prop saw net profit jump more than threefold year-on-year (y-o-y) to RM258.1mil, as revenue also surged 38.7% to RM1.05bil.
In a bourse statement, the group said the increase in both revenue and profits in 3Q26 was primarily attributable to the consolidation of Scottsdale Properties Pte Ltd (Scottsdale), following the acquisition of the remaining 50.1% equity interest in 2025.
This was also helped by higher contributions from the group’s property development segment, arising from the recognition of the sale of its Malacca land and from the property investment segment due to higher occupancy at IOI Central Boulevard Tower.
For the nine months ended March, the factors above had contributed to an even more significant improvement of 6.8 times y-o-y in bottom line to RM1.63bil, as turnover also climbed 40.7% to RM3.06bil.
Compared to the preceding quarter ended December, while revenue had stayed stable from RM1.05bil, net profit fell 63.6% from RM708.8mil.
IOIPG has not declared any dividends so far in the current financial year ending June 30 (FY26).
Commenting on the group’s results thus far, group chief executive Datuk Lee Yeow Seng said IOIPG’s results for the nine months ended March were testaments of its strategies to balance revenue portfolio, capitalising on industrial demand and rolling out market-driven products while improving productivity and efficiency across all three business segments.
“Complementing the growing property investment segment, the group’s diversified product offerings across three countries, the positive outlook of the hospitality and leisure segment, and the favourable interest rate, are anticipated to provide a strong foundation for sustained earnings for 4Q26 and FY26,” said Lee.
At the same time, he said the IOIPG’s recently launched The Cube Plus, a four-storey shop office development in Bandar Puteri Puchong with a total gross development value of RM738.3mil, reflects the resilient demand for quality commercial offerings within the matured township and is expected to contribute positively to the group’s revenue in the coming quarters.
