20/05/2026

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BIZ & FINANCE WEDNESDAY | MAY 20, 2026

Ajiya earnings for Q1 surge 76% despite lower revenue

SunCon’s first-quarter net profit jumps to RM118m

KUALA LUMPUR: Ajiya Bhd, a Malaysian building materials provider, delivered a strong surge in profitability for the first quarter ended March 31, 2026 (Q1’26), with profit after tax and minority interests (Patami) jumping 76.4% year-on-year to RM9.8 million. In a statement, Ajiya said profit before tax (PBT) increased 44.1% to RM11.7 million, reflecting disciplined cost control and a focus on margin optimisation across operations. Alongside the strong profitability delivered during the quarter, the group operated in a more measured revenue environment. Revenue for the quarter amounted to RM57.3 million, compared to RM81 million in the corresponding quarter last year, reflecting a deliberate moderation in sales volume across the group’s operating segments. Compared to the immediate preceding quarter, revenue contracted 19.1% lower than the RM70.8 million recorded, in line with prevailing market conditions. Aijya’s financial position strengthened further during the quarter, underscored by total equity of RM66.7 million as at March 31, 2026 and a 43.3% reduction in total borrowings to RM7.3 million. Strong working capital management remained a key driver of cash generation during the quarter. A RM33.3 million reduction in trade receivables contributed to operating cash flow of RM16.7 million, lifting the group’s net cash position to RM83.5 million. Net tangible asset (NTA) per share increased by 9% quarter-on quarter to RM1.20, reflecting both balance sheet strengthening and earnings growth. Executive director Ng Wai Luen said, “We entered FY26 with a clear focus on protecting margins, strengthening balance sheet liquidity, and maintaining disciplined capital allocation. The revenue moderation in the quarter reflects a highly selective operating environment. Rather than pursuing volume at the expense of profitability, our priority has been to preserve earnings quality, keep costs tight, and ensure our operations remain resilient.

PETALING Malaysia’s vertically integrated construction company Sunway Construction Group Bhd (SunCon) started FY26 on a strong footing, extending the positive earnings momentum following its robust performance in the preceding financial year. This the company said in a statement yesterday when announcing its financial results for the first quarter of financial year ending Dec 31, 2026 (Q1’26). The group recorded net profit of RM118.4 million on revenue of RM1 billion, marking a strong year-on year growth of 56%, underpinned by higher contributions from all operating segments. The construction segment registered revenue of RM950.6 million in Q1’26, compared to RM1.4 billion in the first quarter of financial year 2025 (Q1’25). The stronger revenue performance in the corresponding quarter last year was primarily attributable to accelerated construction progress from the Rapid Transit Systems (RTS) Link JAYA: consumer technology quarter on record for the third quarter ended March 31, 2026 (Q3’26), with record revenue and operating profit from its Sustainable Consumer Technology segment anchoring continued group-level earnings growth. For the nine-month financial period ended March 31, 2026, the group recorded revenue growth of 6% year-on-year (YoY) to RM63.6 million, while earnings before interest, tax, depreciation and amortisation (Ebitda) more than doubled to RM5.07 million. Profit before tax improved significantly to

revenues, combined with strong margin and a growing network of institutional partners, makes consumer technology a genuinely transformative business within the group.” Chairman Tun Md Raus Sharif said Sedania’s improving profitability demonstrates the resilience of their diversified and purpose-driven business model. Looking ahead, Sedania expects its sustainable consumer technology segment to remain a key contributor to future growth, supported by increasing demand for digital financing solutions and recurring revenue opportunities. Technology Facilities (ATF) segment, while maintaining a diversified construction order book profile across various sectors including Sunway Group’s projects,” said Liew. He elaborated, “Within the ATF segment, the group secured three new data centre projects and onboarded a new international hyperscale operator during the quarter, further strengthening its multinational technology client base. Sunway Construction has delivered more than 180MW of data centre capacity to date and is currently managing 10 ongoing projects for global technology clients.” continues to strengthen as a preferred destination for global hyperscalers. The nation’s emphasis on accelerating energy transition and deepening the digital infrastructure ecosystem is expected to support the long-term sustainability of digital investment in Malaysia. Against this backdrop, the group continues to strengthen its position within the nation’s key growth sectors, particularly the Advanced

o Stronger contributions from construction and precast segments drive growth, while new orders reach RM3.59b

Managing director and founder Datuk Azrin Mohd Noor said, “What we are seeing with As-Sidq and GoHalal is not a short-term spike – it is a structural shift. Malaysians, and the institutions that serve them, are actively seeking financing solutions that are values-aligned, digitally accessible, and built for the underserved. We have built exactly that, and the market is responding.” He added, “This quarter validates years of patient investment in our technology platform. We are now at an inflection point where the recurring nature of our fintech share in the current quarter for financial year ending Dec 31, 2026, comprising a single-tier first interim dividend of 7.6 sen per ordinary share and a special dividend of 15.2 sen per ordinary share. Managing director Liew Kok Wing said the group’s healthy outstanding order book, coupled with robust order book replenishment, continues to provide strong visibility over their earnings growth trajectory. In the first quarter of 2026, he added, the group secured RM3.59 billion worth of new orders, achieving more than 50% of its 2026 order book replenishment target for the year. “Malaysia has rapidly emerged as one of Southeast Asia’s most dynamic data centre markets and

RM1.99 million, with a profit after tax (PAT) of RM0.82 million for the period. The group’s sustainable consumer technology segment emerged as the key growth driver, recording a 67% YoY increase in revenue to RM5.17 million in Q3’26, with operating profit more than doubling to RM2.4 million – its highest-ever quarterly performance. For 9M’26, the segment recorded revenue of RM11.93 million, up 35% YoY, with operating profit rising to RM4.57 million. This strong performance was powered by rapidly growing adoption of the group’s flagship Shariah-compliant digital financing project and several data centre projects. Despite the softer revenue recorded in the current quarter, the segment delivered commendable profitability improvement, with profit before tax (PBT) rising 33% year-on-year to RM148.7 million and PBT margin improving to 15.6%. Revenue for the precast segment surged 136% to RM72.1 million in Q1’26, compared to RM30.6 million in Q1’25. The strong growth was fuelled by higher contributions from ICPH projects, alongside the progressive ramp-up from newly secured projects. Consequently, PBT increased fivefold to RM6 million during the quarter. The group declared a total dividend of 22.8 sen per ordinary

Sedania posts strongest consumer tech quarter on record PETALING JAYA: Sedania Innovator Bhd delivered its strongest solutions, As-Sidq and the GoHalal Financing Programme.

Education retains its importance in the Malaysian landscape for parents, students and stakeholders. The changes are fast paced with new developments in new fields of study such as cybersecurity, data protection, augmented and virtual reality, machine learning in education, digital education and artificial Intelligence. Leading the way are universities, who are invited to showcase their latest programmes, curriculum and content in our Education Focus for 2026.

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