29/05/2026

BIZ & FINANCE FRIDAY | MAY 29, 2026

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Eversendai clinches contracts in S’pore, India

Berjaya Corp cautiously optimistic about remaining quarter of FY26

When translated into ringgit, the revenue decline was further impacted by unfavourable foreign ex change translation effects. Meanwhile, HR Owen

engineering and quality con struction projects, supported by experienced technical teams across multiple regions, it said. “The group remains on a solid footing, underpinned by a strong order book, an active tender pipeline, and consistent demand for its engineering and con struction expertise in delivering projects without compromising on safety, quality and timely delivery. “Eversendai remains confident

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The group recorded revenue of RM411.8 million, a 1.2% increase compared to the previous corresponding quarter, while profit before tax (PBT) stood at RM237 million, marking a 1.5% year-on-year increase. The positive momentum led the group to declare a higher dividend of 9.3 sen per stapled security for the quarter. The retail segment, represented by Suria KLCC and the retail podium of Menara 3 Petronas, sustained its momentum during the quarter, recording a revenue of RM143.6 million and PBT of RM113.7 million. Occupancy remained firm at 98%, while footfall grew by 13%, supported by a strong tenant mix and curated experiences. CEO Datuk Mohd Salem Kailany ( pic ) said the group’s performance for Q1 2026 sets an encouraging tone for the year and reflects continued commitment to operational excellence across its businesses. “While we remain mindful of the ongoing challenges and uncer-tainties, we will continue to focus on maximising the performance of our core cash-generating assets to sustain stable and recurring cash flows. “Alongside this, we remain committed to cost discipline and value creation across the KUALA LUMPUR: AMMB Holdings Bhd recorded a higher net profit of RM2.1 billion for the financial year ended March 31, 2026 (FY26), an increase of 5% from RM2 billion in the same period last year. In a filing with Bursa Malaysia yesterday, the banking group said its revenue also improved by 4.7% year-on-year (y-o-y) to RM5.15 billion from RM4.92 billion in FY25, mainly driven by higher net interest income (NII) and non-interest income (NoII). NII rose 4.5% y-o-y to RM3.72 billion from FY25’s RM3.57 billion, underpinned by a four KUALA LUMPUR: Eversendai Corporation Bhd has secured four new projects worth a combined RM400 million across Singapore and India, strengthening the group’s order book. In a filing with Bursa Malaysia yesterday, the global structural steel turnkey contractor said that it was awarded a contract in Singapore by Kajima Overseas Asia Singapore Pte Ltd for the Toa Payoh Integrated Development project. “The project involves the construction of a polyclinic, library, sports facilities, stadium,town park and basement levels,” it said. In India, the group secured a key initiative in Amaravati, Andhra Pradesh, for an integrated office building to establish a centralised administrative hub. “The 40-storey tower, part of the Secretariat Towers development, is designed to accommodate state-level head of department offices,” it said. The group said the structure features o Order book boosted by four deals worth a combined RM400 million

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maximise usable space. “A central core combined with an external diagrid frame enhances both structural efficiency and architectural appeal, while demanding high precision at beam connections. “Furthermore, the use of composite metal decking with steel framing supports faster construction and reduces structural load,” it said.

recorded a pre-tax loss mainly due to lower sales, margin pressure, and higher operating expenses, particularly arising from increased statutory employment costs following the implementation of new UK labour regulations. As for the retail (food) business, the segment recorded a marginal increase in revenue, mainly attributed to the factors mentioned in the third quarter. Despite a marginal increase in revenue in the food retail business, the pre-tax loss decreased significantly, mainly due to improved profit margins from cost-saving initiatives and store rationalisation, as well as lower depreciation and amortisation charges following impairment losses recognised in the previous financial year. The property segment reported higher revenue for the current period, due to higher progress billings from its projects at Residensi Oak, Bukit Jalil and Pangsapuri Azalea, Subang Heights. This was partially offset by lower sales of residential units from a local project in the current period. Additionally, the property segment’s better performance was in line with the increase in revenue recorded in the current period. As for hospitality, the segment reported higher revenue, mainly attributable to a higher overall occupancy rate during the current period, while recording lower results due to unrealised foreign exchange translation effects. The services segment reported a lower revenue contribution in the current period, primarily due to relatively lower sales from STM Lottery, as the previous year’s corresponding period benefited from strong sales driven by higher accumulated jackpot prizes, particularly from the Supreme Toto 6/58 game. The services segment also recorded a lower revenue contribution from the MTNS business. The decline in MTNS revenue in the current period was mainly due to certain projects nearing completion of their deployment phase, and several projects were completed in the previous financial year. In addition, the gaming business operated by STM Lottery reported a lower pre-tax profit, which was in line with the lower revenue recorded during the current period. Similarly, the MTNS business reported a lower pre-tax profit, mainly due to lower revenue and reduced gross profit in the current period. On prospects, the group said Malaysia’s economic growth is expected to be driven by strong domestic demand and the moderation of the average inflation rate despite the uncertainties arising from ongoing geopolitical tensions and conflicts, as well as the inflationary tariffs being imposed by the US government. The group will monitor prevailing global and local political developments in the countries where it operates. The performance of the group’s domestic business segments is expected to improve on the back of strong consumer spending and an improvement in tourism activity. As for the number forecast operator (NFO) business, it is expected to continue to deliver growth in line with the popularity of its Jackpot and Digit games and continue its lead in terms of market share in the legalised NFO business sector. The board is cautiously optimistic that the group’s business operations for the remaining quarter of the financial year ending June 30, 2026, will be satisfactory.

of overcoming current challenges, supported by several potential project awards expected within the coming months,” it said. Meanwhile, executive chairman Tan Sri AK Nathan ( pic ) said that during these challenging times, the confidence, continued support, and trust shown by its long-standing clients, stakeholders, and dedicated employees reaffirmed the group’s market positioning, un derlying strength, and operational resilience. “While certain external market circum stances may be beyond our control, our focus on executing with excellence and our commitment to rebuilding stronger remain entirely unwavering,” he added. – Bernama

Expanding its footprint in Mumbai, Eversendai said it has also secured a contract from Larsen & Toubro Ltd, Chennai, for the structural steel long-span works of the Prestige Tower Y development. “Eversendai’s scope includes structural steel works, engineering, connection design, and the preparation of detailed shop drawings.” Additionally, the group said it has been entrusted by The New Era Agencies Private Ltd with delivering a high-rise residential building, known as Dhuleva One 50, at Malabar Hill, Mumbai, on a cost-plus contract basis. These project awards underscore its proven capability in delivering large-scale, high-value

KLCCP Stapled puts up resilient performance in Q1 PETALING JAYA: KLCCP Stapled Group delivered a resilient performance for the first quarter of 2026, driven by steady growth across all business segments. portfolio, whilst advancing our energy effi-ciency initiatives as part of our long-term sustainability journey,“ he said.

commenced in mid-February. The segment recorded a lower loss of RM2.3 million, down from RM4.8 million last year. Meanwhile, the management services segment, comprising facilities management and

During the quarter, Suria KLCC welcomed three new entrants, including the reopening of Zara’s newest concept for a global flagship store in Malaysia, featuring boutique-style layouts, integrated omnichannel tech nology and advanced energy efficient systems. The office segment,

carpark management services, saw revenue increase by 2.2% to RM92.1 million, with PBT up by 4.5% compared to quarter one last year. This was mainly driven by higher carpark income following the expansion of parking operations and the revision of seasonal parking rates in April 2025. Regarding prospects, KLCCP Stapled Group expects the operating landscape to remain challenging. Nevertheless, the group is confident in its long-term growth prospects, supported by the strength of its integrated ecosystem and resilient portfolio fundamentals.

comprising Petronas Twin Towers, Menara 3 Petronas, Menara ExxonMobil, and Menara Dayabumi, remained stable, delivering revenue of RM146.3 million and PBT of RM122.1 million. The hotel segment, represented by Mandarin Oriental Kuala Lumpur, recorded improved top-line performance, with revenue increasing 4.7% to RM49.1 million com-pared with the same quarter last year. The improved perfor-mance was also driven by higher banqueting revenue following the completion of its grand ballroom refur bishment the previous year. The improvement in revenue has helped mitigate the loss resulting from planned maintenance works and the on-going upgrading of the serviced apartments, which basis-point (bps) expansion in net interest margin to 1.98% from 1.94% in FY25, as well as strong loan growth. Meanwhile, NoII rose to RM1.42 billion, a 5.1% growth y-o-y from RM1.35 billion, driven by higher securities trading gains from the group treasury and markets and a resilient performance in group wealth management, partially offset by lower fee income from investment banking and business banking. Meanwhile, for the fourth quarter ended March 31, 2026 (Q4’26), AMMB’s net profit was

The group is well-positioned to capture future growth opportunities through the continued expansion of its retail and hotel offerings and management services seg-ment. The active line-up of activations within the precinct is expected to enhance vibrancy and reinforce KLCC Precinct’s position as a premier destination for business, leisure and major events. AMMB banks in record net profit of RM2.1b for FY26

higher to RM520.49 million, versus RM513.92 million in the same quarter last year, while revenue ticked up to RM1.29 billion from RM1.28 billion previously. AMMB CEO Jamie Ling said the group closed FY26 on a strong note, delivering a record net profit of RM2.1 billion and a return on equity of 10%. The group declared a final dividend of 22.5 sen per share for Q4’26, bringing the total dividend for FY26 to 35 sen per share (FY25: 30.2 sen per share), a 15.9% y-o-y increase. – Bernama