PETALING JAYA: Glomac Bhd
could see its sales momentum pick up from the second quarter (2Q) of 2027, as remaining property launches are rolled out progressively.
In a report, TA Research said the group’s financial year 2027 (FY27) launch activities had only started in 2Q, with about RM163mil worth of projects scheduled for launch on Sept 19, 2026.
These include the Qaya shop offices at Saujana Perdana (RM78mil), Serai 3 at Sungai Buloh Country Resort (RM69mil) and 16 Legacy at Saujana Rawang (RM16mil).
For the year, Glomac has planned launches totalling approximately RM317mil.
TA Research said it will maintain a “hold” call on the stock with an unchanged target price of 34 sen. As for the group’s earnings,
TA Research said that Glomac’s 1Q of 2027 net profit – which came in at RM7.6mil – was above expectations, accounting for 43% of its FY27 earnings forecasts.
“The positive variance was largely due to stronger-than-expected margins as the revenue of RM68.5mil came in line at 28% of our full-year forecast.”
The revenue surge was recorded as an increase of 163%, supported mainly by property development revenue, which more than tripled to RM61.1mil.
