PETALING JAYA: IOI Properties Group Bhd
’s (IOIPG) net profit more than doubled to RM2.15bil for the financial year ended June 30, 2026 (FY26) from RM1.06bil a year earlier, as revenue hit a record high.
Revenue surged 45% to a record RM4.44bil from RM3.06bil in FY25, while earnings per share rose to 39.13 sen versus 19.32 sen previously.
“The strong growth in revenue was driven by robust performance across all three core business segments, with the property development, property investment, and hospitality and leisure segments registering growth of 35%, 49% and 79%, respectively,” the property developer said in a statement.
IOIPG said its pre-tax profit jumped 82% to RM2.65bil from RM1.45bil, mainly boosted by a RM502.8mil remeasurement gain on South Beach Tower.
Excluding exceptional items, the group said underlying pre-tax profit surged 91% to RM1.3bil, supported by stronger contributions from its property development and property investment businesses. For the fourth quarter ended June 30, IOIPG’s net profit fell 36.5% to RM523.1mil from RM823.9mil a year earlier, despite revenue rising 55.8% to RM1.39bil from RM890.2mil.
The group declared an interim dividend of eight sen per share and a special dividend of eight sen, bringing the total to 16 sen per share.
Property development sales for FY26 stood at RM3.91bil, of which Malaysian projects contributed RM3.53bil, or 91%.
China and Singapore contributed RM247.7mil and RM132.3mil, respectively.
The group ended FY26 with record unbilled sales of RM2.51bil, providing earnings visibility over the near to medium term. At the same time, completed inventories continued to trend lower, reducing by RM100.6mil to RM1.17bil.
In a statement, group chief executive officer Datuk Lee Yeow Seng said the performance reflected the group’s strategies to diversify income streams, capitalising on industrial demand and rolling out market-driven products while enhancing productivity and efficiency across all three core business segments.
“As we move into FY27, we recognise that global economic headwinds and geopolitical risks may persist.
“Nevertheless, the group remains cautiously optimistic of its performance for the financial year, underpinned by the strong demand for our diversified product offerings in the property development segment and growing contribution from the property investment segment,” he said.
Meanwhile, IOIPG’s proposed real estate investment trust has received approval from the Securities Commission and is on track for listing by the fourth quarter of 2026.
The property investment business is also expected to benefit from improving physical occupancy at IOI Central Boulevard Towers and the additional contribution from Asia Square Tower 2, with the acquisition targeted for completion by the third quarter of 2026.
Looking ahead, the group’s hospitality portfolio is set to expand with The Westin Puchong, a 324-room five-star hotel within its 100-acre IOI Rio City masterplan in Bandar Puteri Puchong.
Scheduled to open by June 2030, it will be Puchong’s first internationally branded five-star hotel and will complement the upcoming IOI Mall Rio.
