03/03/2025

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BIZ & FINANCE MONDAY | MAR 3, 2025

Wawasan Dengkil strengthens capabilities

Magma’s FY24 revenue surges 24% on hospitality growth KUALA LUMPUR: Magma Group Bhd, a hospitality and investment holding group, delivered a robust 24.04% increase in total revenue, reaching RM17.82 million for the financial year ended Dec 31, 2024 (FY24), propelled by exceptional performance in its hotel operation segment. This segment’s annual revenue soared to RM28.55 million from RM12.08 million in the previous financial year (FY23) – a 136% increase – demonstrating Magma’s ability to capitalise on recovering travel demand and operational enhancements. For the fourth quarter of the fiscal year 2024 (Q4’24), the hotel operation segment achieved RM8.291 million in revenue, reflecting a 143% increase from RM3.41 million in Q4’23. This growth was fueled by higher occupancy rates, bolstered by special travel visas for Chinese visitors, and the successful integration of WOLO Kuala Lumpur under Magma Bintang Sdn Bhd (MBSB). For FY24, the segment’s profit after tax climbed 59% to RM4.23 million from RM2.66 million in FY23, underscoring Magma’s strong market position and operational excellence. The hotel management segment also marked a positive shift, recording a profit after tax of RM0.63 million in Q4’24, a significant turnaround from a loss of RM4.03 million in Q4’23. For FY24, the segment posted a profit of RM1.84 million, reversing a loss of RM2.4 million in FY23. Despite a slight revenue dip to RM0.72 million in Q4’24 from RM1.28 million, this profitability reflects effective cost management and operational improvements. Despite the hospitality triumphs, Magma recorded a loss after tax (LAT) of RM35.12 million in Q4’24, compared to a LAT of RM3.15 million in Q4’23. This was largely due to impairment provisions and one-off costs tied to addressing legacy issues in the property development segment, which reported a LAT of RM10.77 million. partnership is a game-changer for Malaysia’s semiconductor ecosystem. With this software now available at Mimos, we can enhance R&D capabilities, train local talent, and strengthen Malaysia’s position in the global semiconductor supply chain. We are grateful to Xiamen University and GMPT Software for their forward looking collaboration.” This initiative aligns with Mosti’s vision to establish Malaysia as a leader in semiconductor R&D, complementing national efforts in talent development, technology commercialisation, and industry collaboration.

our market presence and drive expansion. “We are focused on expanding our involvement in major projects including residential, commercial, and industrial property developments, as well as roads, highways, and utility-related infrastructure. “On the utilities front, we aim to capitalise on the national push for renewable energy under the National Energy Transition Roadmap by participating in more solar farm infrastructure projects,” Lim said at a press conference following the prospectus launch on Friday. He noted that a key driver of Wawasan Dengkil’s business is its sizable fleet of machinery and commercial vehicles, which provides greater control over project execution. “We plan to further expand our fleet by acquiring additional excavators, mobile cranes, and dump trucks. With a strong in house fleet, we can reduce reliance on third party suppliers, enhancing cost efficiency and operational flexibility,” he said. Additionally, Lim disclosed that the company is expanding its expertise into solar farm projects, having submitted six out of 44 tenders worth approximately RM572 million. “As the government’s strong push for renewable energy, this creates significant opportunities in solar farm infrastructure. He said one of the group’s completed projects includes the Bidor solar photovoltaic project, featuring a 50 MWac LSSPV plant commissioned by Fabulous Sunview Sdn Bhd. The RM9.4 million project was completed in September 2023. Although revenue from solar projects presented a US$2 million (RM8.9 million) semiconductor simulation software from General Mathematical-Physics Technology Co Ltd (GMPT) to Mimos Bhd. This advanced TCAD (Technology Computer-Aided Design) software will enhance device modelling, material characterisation, and process optimisation – benefiting both R&D and industry applications. The sponsorship strengthens Malaysia’s semiconductor ecosystem, supporting technological advancements, talent development, and global competitiveness in the semiconductor industry.

remains modest, Lim said the company remains optimistic about future growth, especially after the announcement of the LSS5 results. “We expect contributions to increase over the coming years. At this stage, successful tenders have yet to proceed, so we are unable to predict revenue growth precisely,” he said. As of Jan 28, the company has 14 ongoing projects and an unbilled order book of RM378.14 million. Its tender book remains strong at RM1.3 billion, comprising RM724.82 million for earthworks and civil engineering projects related to property development, highways, and urban rail, and RM572.22 million for solar farm infrastructure works. The RM27.01 million IPO proceeds will be allocated as follows: RM7.58 million (28.1%) for purchasing machinery and commercial vehicles, RM9.85 million (36.5%) for project working capital, RM1.43 million (5.3%) for general working capital, RM3.85 million (14.2%) for bank loan repayment, RM0.3 million (1.1%) for office renovations, and RM4 million (14.8%) for estimated listing expenses. Financially, Wawasan Dengkil has shown strong growth, with revenue increasing from RM69.86 million in the financial year ended June 30, 2021 (FY21) to RM188.54 million in FY24, reflecting a compound annual growth rate (CAGR) of 39.23%. Net profit grew from RM7.78 million to RM11.32 million over the same period. Adjusted for gains from asset disposals, net profit rose from RM6.81 million in FY21 to RM10.91 million in FY24, representing a CAGR of 17.02%.

o ACE Market-bound company focuses on expanding role in property and infrastructure projects

Ű BY AIMIE SHAZRIE sunbiz@thesundaily.com

KUALA LUMPUR: Wawasan Dengkil Holdings Bhd is strengthening its position in large-scale earthworks and civil engineering projects following the successful prospectus launch in conjunction with its initial public offering (IPO) on the ACE Market of Bursa Malaysia Securities Bhd. The company specialises in large-scale excavation, relocation, and compaction of soil and rock to create embankments and platforms for future construction. Executive director Lim Soon Yik said the launch of the prospectus marks a major milestone for Wawasan Dengkil, reinforcing their commitment to growth and excellence. “Our expertise in large-scale earthworks is demonstrated through our involvement in key projects such as LRT Line 3 (expected completion March 2025), Central Spine Road (expected completion August 2026), and Sungai Long project (expected completion April 2030). Moving forward, the IPO proceeds will act as a catalyst to strengthen

Mosti leads tripartite push for Malaysia’s semiconductor industry DENGKIL: Ministry of Science, Technology, and Innovation (Mosti) is reinforcing Malaysia’s position in the global semiconductor industry through a strategic partnership with Xiamen University (XMU) and GMPT Software. Developed by GMPT Software, the cutting edge TCAD software enables precise simulation of semiconductor devices, essential for next generation chip development.

To maximise its impact, Mimos will house and manage the software through its Industry Technology Innovation Centre (ITIC) and Mimos Academy, ensuring accessibility for researchers, industry players, and academic institutions. The software will be available at Mimos, with online training sessions facilitating seamless adoption by local talent and professionals. Mosti minister Chang Lih Kang said, “This

This initiative marks a significant step in advancing semiconductor research and development in Malaysia. The technology sponsorship ceremony by Xiamen University China (XMU) marks a major milestone in the government-to-government (G2G) collaboration between Malaysia and China. During the recent event, XMU officially

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