PETALING JAYA: Skyworld Development Bhd
has registered a higher profit of RM5.25mil for the first quarter ended June 30, 2026.
Revenue for the quarter was also higher 45.7% at RM108.67mil versus RM74.60mil in the same quarter last year.
In a filing to Bursa Malaysia, the urban property developer said the increase in both was due to higher income from its five ongoing developments.
It will now enter its new growth phase backed by RM1.1bil in unbilled sales as of June 30, 2026.
The group said it will target new launches with a combined gross development value of more than RM2bil for FY27.
“This will further broaden our portfolio of revenue-generating developments while keeping us firmly on track to achieve the post-initial public offering target of RM4.6bil in cumulative launches by the end of 2026,” the group said.
Skyworld Development’s cash reserves is more than RM350mil and has a healthy net gearing ratio of 0.43 times,
In addition to that, Skyworld Development’s overseas expansion is also taking flight, with the preview of SkySOLIS in Ho Chi Minh City, a three-tower residential development comprising 1,101 units.
This project represents the group’s maiden development outside Malaysia, with its local sales gallery only opening its doors in July this year.
Meanwhile, chief executive officer Lee Chee Seng said with better earnings visibility from the group’s unbilled sales and upcoming launches, they are committed to executing the set development pipeline and building momentum.
Lee said in addition to the development in Vietnam, within Malaysia, Penang has emerged as an important market to them.
“We look forward to deploying our Prefabricated Prefinished Volumetric Construction (PPVC) technology by the end of FYE2027 to enhance construction efficiency and accelerate project delivery.
These initiatives are aligned with SkyWorld 2040, our long-term strategic plan to strengthen our core property development business, expand selectively into regional markets and harness innovation to drive sustainable growth and create long-term value for our shareholders.”
