28/05/2026

BIZ & FINANCE THURSDAY | MAY 28, 2026 KSL earnings for Q1 climb to RM65.3m

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Lagenda’s profitability remains stable in first quarter

JOHOR BAHRU: Johor property developer, KSL Holdings Bhd recorded a 23.9% growth in net profit to RM65.3 million in the first quarter ended March 31, 2026 (Q1’26) from RM52.7 million in the previous corresponding quarter, driven by robust revenue recognition from property development alongside cost efficiencies from its integrated in house construction capabilities. Group revenue for Q1’26 rose 16.4% to RM287.1 million from RM246.7 million previously. The top-line growth was led by the Property Development segment, which rose 22.9% to RM223.9 million on steady construction progress from ongoing projects. At KSL’s 26th AGM held on Tuesday, shareholders approved a final single-tier dividend of 10 sen per share for the financial year ended Dec 31, 2025 (FY25), amounting to a total payout of RM107.3 million to be distributed via Dividend Reinvestment Plan. Executive director Khoo Lee Feng said: “We commenced the year on a strong footing, translating our record 2025 property launches into robust sales. As we accelerate development across our 4,600-acre landbank, our focus remains on the most resilient segment of the market by delivering accessible and high-quality homes for growing families, first-time buyers, and cross-border commuters. Our growing scale is supported by our integrated in-house construction capabilities and management efficiency, which not only insulate our margins from supply chain constraints and material cost fluctuations, but also keep our properties competitively priced.” Concurrently, he added they are unlocking greater value from their recurring asset portfolio through optimised tenant mixes and strategic anchors. The combination of property development with mall and hospitality assets allows them to capture the immense demand driven by the Johor-Singapore Special Economic Zone, the upcoming Rapid Transit System Link, and the State’s Maju Johor 2030 vision, he said.

PETALING JAYA: Lagenda Properties Bhd, a developer of affordable housing and integrated townships, recorded revenue of RM262.1 million for the first quarter ended March 31, 2026 (Q1’26), while maintaining stable profitability with profit after tax of RM44.2 million. Malaysia’s economy continued to demonstrate resilient growth during the quarter, supported by stable domestic demand, healthy employ ment conditions and a supportive financing environment, which con tinued to underpin demand within the affordable housing segment. Against this backdrop, the group delivered resilient operational performance despite a slower first quarter, which was affected by the festive period and resulted in gradual construction progress. Consequently, revenue declined marginally by 0.9% year-on-year, mainly due to lower contributions from the property development segments. Nonetheless, it remained the group’s key earnings contributor, contributing for approxi mately 90% of total revenue. The trading segment, meanwhile, con tinued to provide a supportive contribution and recorded strong growth, with revenue increasing 18.4% year-on-year, driven by higher demand for building materials and increased sales volume to external contractors. The property development seg ment remained supported by ongoing construction progress across projects including Lagenda Ardea Phase 2 in Ulu Bernam (Selangor), BBSAP in Sitiawan (Perak), and the group’s highly anticipated develop developments in Johor, Selangor and Pahang o Demand for affordable landed township homes still encouraging across

Group’s sizeable landbank provides long-term development visibility across multiple strategic locations in Malaysia. – LAGENDA PROPERTIES WEBSITE

The group’s quality of earnings was particularly evident in Q4’26. While fourth-quarter revenue moderated to RM12.63 million due to the high-base effect of land sales in the prior year’s corresponding quarter, PBT rose 187.1% sequentially against Q3’26 to RM35.94 million. This quarter-on-quarter expansion was driven by the Investment segment, which turned around from a loss-making position in FY25 to a PBT of RM28.13 million in FY26 during the final quarter. PGB’s balance sheet metrics strengthened significantly over the period. Total assets expanded 45.9% to RM1.14 billion. The group’s investment property base increased affordable landed township develop ments. As at March 31, 2026, the group’s unbilled sales stood at a record high of approximately RM1.67 billion, providing strong earnings visibility for the coming quarters. Lagenda also maintained a sizeable landbank of approximately 3,998 acres, with an estimated GDV of RM10.28 billion across multiple strategic growth corridors nationwide. The group remains cautious of geopolitical uncertainties, in flationary pressures and broader external market conditions, but expects the overall impact on operations to remain manageable, supported by resilient domestic demand and its affordable housing focused business model. It also intends to maintain its current housing price positioning despite rising global costs and inflationary pressures, in line with its commit ment to affordable home ownership. The group said, “We are pleased to have delivered another quarter of

Executive chairman Datuk Seri Edwin Tan Pei Seng ( pix ) said, “FY25 was a high-water mark on the back of the RM337.3 million Johor land disposal to Bridge Data Centres Malaysia (Land A and Land E disposal). FY26 is a different kind of year — we are building the next phase. The landbank has grown, the investment property base has grown, and we have started laying the foundation for our industrial ecosystem with GSP. The numbers will follow.” Financially, the group reported full-year revenue of RM154.85 million compared to RM306.26 million in FY25, as top-line figures normalised following the completion of major historical land-sale recognitions in Desa Cemerlang. Despite the lower ment La’ Lumiere in Kulai (Johor). While quarterly performance was moderated by timing of progress billings, the group expects revenue recognition to strengthen pro gressively in the coming quarters, supported by a higher base of project launches in the preceding year, which has expanded the pipeline of construction activities and billing recognition. This, together with steady execution progress across ongoing developments and additional new launches planned in the coming quarters, is expected to drive a gradual ramp-up in performance moving forward. Lagenda recorded property sales of approximately RM372.5 million during the quarter, led by en couraging demand for developments including La’ Lumiere in Kulai (Johor), Lagenda Ardea in Ulu Bernam (Selangor) and La’ Indera in Kuantan (Pahang). The continued positive take-up rates reflect sus tained demand for the group’s

resilient performance, supported by steady demand across our township developments. While the first quarter was affected by the festive period, our strong sales momentum and record high unbilled sales continue to reinforce sustained demand for affordable landed homes in strategic growth corridors. “We expect performance to strengthen progressively, supported by an incremental uplift in con struction activities, revenue recogni tion and profitability in the coming quarters.” It added “Moving forward, we remain focused on disciplined execution, timely project delivery and strategic expansion within high growth locations. “With construction activities expected to normalise in the coming quarters, alongside upcoming launches in Sungai Petani, Kedah and Senawang, Negeri Sembilan, we remain optimistic of delivering stronger performance in the quarters ahead and over the longer term.”

Paragon Globe posts RM69.4m Patami for FY26 on industrial push JOHOR BAHRU: Paragon Globe Bhd announced its financial results for the fourth quarter and full financial year ended March 31, 2026 (FY26), highlighting a structural transition from a conventional property de veloper into an integrated industrial ecosystem platform. capture the growing regional demand for sustainable industrial infra structure. top line, gross profit margin held steady at 49.6%. Full-year PBT stood at RM88.7 million, while Patami came in at RM69.44 million. 67.9% to RM365.38 million, reflecting active capital expenditure deploy ment and valuation gains. Further more, total inventories increased to RM663.12 million, representing a substantial build-up of land and development assets slated for monetisation and execution starting in FY27. NA per share increased to RM0.63.

This shift is anchored by the group’s new partnership with GSP Automotive Malaysia Sdn Bhd, a subsidiary of the Shanghai-listed GSP Automotive Group. Under the Partnership Colla boration Agreement, PGB will act as the master developer and ecosystem integrator for an automotive-focused industrial cluster known as PGB-GSP AutoPark in Iskandar Puteri, Johor. The platform will leverage GSP’s global supply chain network, with selected manufacturing units tar geted for GreenRE certification to

Demonstrating disciplined capital recycling, the group also confirmed that the RM98.98 million in gross cash proceeds from the Land E disposal, which was completed on Jan 20, 2026, has been fully utilised. The funds were deployed across land acquisitions (RM55.22 million), core development costs (RM24.18 million), general working capital re quirements (RM19.46 million), and transaction expenses (RM0.11 mil lion).