KUALA LUMPUR: Iconic Worldwide Bhd
is targeting revenue of RM150mil for the financial year ending June 30, 2027 (FY27), nearly double the RM87.61mil recorded in FY26, driven mainly by its property development and manufacturing businesses.
The group expects its property segment to contribute up to RM120mil in revenue, supported by sales of its RM300mil Iconic Harmony mixed development in Bukit Mertajam, Penang.
Executive chairman Datuk Seri Tan Kean Tet said the group also expects RM30mil to RM40mil in revenue from its personal protective equipment (PPE) and babycare product manufacturing business, including income from the rental of a factory to Aperion Technologies (Malaysia) Sdn Bhd.
Its hospitality segment is expected to generate RM10mil in revenue from hotel and serviced apartment management operations.
"We believe our target of RM150mil is achievable as our property business alone is expected to contribute up to RM120mil in revenue, driven by sales of Iconic Harmony," he said in a statement.
Tan said construction of Iconic Harmony was progressing according to schedule, with completion expected by mid-2027 and delivery of sold units targeted before the end of the year.
Iconic Harmony, launched in April 2024, has an estimated gross development value (GDV) of RM300mil.
As of FY26, about RM80mil in sales had been recognised as revenue, leaving more than RM200mil to be recognised over the next two financial years.
Iconic Worldwide is also preparing to launch another development project in Penang in the second half of 2027.
Meanwhile, Tan said the group's hospitality business continued to provide recurring income, with its Iconic Regency serviced residence recording an average occupancy rate of between 80% and 90%.
The group plans to expand the segment by securing additional property management contracts.
It also expects to generate fixed annual rental income of at least RM12mil from its factory leased to Aperion.
For FY26, Iconic Worldwide's revenue rose 84.8% to RM87.61mil from RM47.40mil a year earlier, largely driven by its property segment, which more than doubled its revenue to RM58.55mil from RM24.42mil.
Manufacturing revenue stood at RM18.81mil, while the hospitality segment contributed RM10.25mil.
The group's net profit more than tripled to RM9.75mil from RM3.15mil in FY25.
Tan said the group would focus on project delivery, expanding recurring income streams and managing operating costs to sustain earnings growth.
