SELANGOR: Leading construction company, industrialised building system (IBS) precast concrete manufacturer, property developer and a subsidiary of LBS Bina Group Berhad, MGB Berhad (MGB), released its unaudited financial results for the first quarter (Q1) in FY26 today, kicking off the year on a solid footing.
In Q1FY26, the group recorded revenue of RM210.1mil, as compared to RM227.7mil in the corresponding quarter of last year. The construction and trading segment delivered steady growth supported by higher contributions from overseas projects.
This helped to partially offset lower contributions from the property development segment, following the completion and vacant handover of several projects.
The group achieved 19% year-on-year (YoY) growth in profit after tax and minority interest (Patami) to RM14.1mil, underpinned by cost optimisation measures that strengthened margins.
Commenting on the results, MGB group executive chairman Tan Sri Ir Dr Lim Hock San said, “We delivered a commendable performance in Q1 FY26, recording profit growth driven by disciplined cost management and project optimisation. Our in-house precast capabilities continue to enhance efficiency, strengthen cost control and support timely project delivery.
“We remain optimistic about our growth prospects in both business segments. Our construction and trading segment continues to benefit from a steadily expanding order book across Malaysia and Saudi Arabia, reflecting our broader market reach through the successful securing of external projects both locally and in Saudi Arabia.
He added that as of March 31 this year, the group’s domestic construction order book stood at RM1.25bil. It further strengthened its project pipeline through new contract wins, including the RM200.74mil centralised labour quarters project in Penang and the RM34.76mil (Saudi Arabian riyal 32.98 million) Saudi villa contract.
These awards support the group’s strategy to expand its construction footprint beyond its existing core markets while continuing to build its presence in Saudi Arabia.
Within the Property Development segment, the group’s unbilled sales of approximately RM402.3mil continue to provide near-term earnings visibility. Looking ahead, MGB plans to launch new projects over the next two years, with a total gross development value exceeding RM1bil, focusing on affordably priced housing and pocket land developments.
Among the upcoming developments this year is Starlight Residences in Cameron Highlands, comprising apartments and retail shop units with a total estimated gross development value of RM128mil.
The project is currently undergoing pre-launch marketing and related preparations ahead of its official launch. Together with the group’s broader pipeline, this will lift contributions and sustain the Property Development segment’s growth momentum going forward.
