02/06/2026

BIZ & FINANCE TUESDAY | JUNE 2, 2026

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L&G closes FY26 on positive note

launches to progressively replenish the group’s unbilled sales and sustain its earnings visibility going forward. The group also recently held a pre-view event for Damansara Laverra in Q1’27, a RM752 million GDV freehold residential development within Bandar Sri Damansara which received encouraging market response. The positive take-up reflects sustained demand for quality and strategically located developments within the group’s established Bandar Sri Damansara township, while reinforcing the market’s continued confidence in the group’s product offerings and execution capabilities. This provides positive momentum heading into the group’s upcoming launches in FY27. Underpinning the group’s near term earnings outlook, its unbilled sales of approximately RM618 million as at March 31, 2026 provides a solid foundation for progressive revenue recognition into FY27. are expected

engagements continue to progress positively.” Rewarding shareholders on the back of its stellar FY26 performance, the group has proposed a final single tier dividend of 0.8 sen per share in respect of FY26, subject to shareholders’ approval at the forthcoming Annual General Meeting. Combined with the first interim dividend of 0.2 sen per share paid on May 7, 2026, total dividends declared for FY26 amount to 1 sen per share, representing a total payout of RM29.7 million or 58.9% of Patmi, reflecting the group’s continued commitment towards delivering sustainable shareholder returns. This marks a meaningful step up from a total dividend of 0.8 sen per share, amounting to RM23.8 million in FY25. Moving into FY27, the group intends to launch multiple developments with a combined estimated GDV of approximately RM1.5 billion, subject to prevailing market conditions and sales momentum. These planned

million versus RM26.4 million previously, mainly due to a one-off gain arising from the disposal of land in Senawang, Negeri Sembilan recognised in Q4’25. Excluding the one-off disposal gain recognised in the previous corresponding quarter, the group’s underlying earnings remained strong and on a solid growth trajectory, reflecting the strength of its ongoing project execution and recurring income base. Managing director Low Gay Teck said: “Our stellar FY26 results reinforce L&G’s enduring strength as a trusted property developer, with healthy take-up rates reflecting our ability to meet the evolving needs of homebuyers. Looking ahead to FY27, we remain focused on enhancing our residential offerings and driving long-term value creation through our upcoming launches. At the same time, we are also hopeful of positive developments from our industrial park initiatives in 2H’27 as ongoing land rezoning efforts and strategic

o Patmi jumps to RM50.5m, thanks to strong performance in property, education segments

KUALA Property developer Land & General Bhd (L&G) closed financial year ended March 31, 2026 (FY26) on a strong note, with profit after tax and minority interest (Patmi) surging 38.7% to RM50.5 million, from RM36.4 million a year earlier, driven by strong performance in both property and education segments. Group revenue surged 70.6% to RM490.5 million in FY26, up from RM287.6 million recorded last year, underpinned by the property division. The property division remained the group’s key earnings contributor, with revenue leaping 81.7% to RM436.9 million in FY26 from RM240.5 million previously, while operating profit rose 24.1% to RM77.1 million from RM62.2 million. The robust performance was driven by LUMPUR:

strong revenue recognition and sales contributions from ongoing developments, namely Damansara Livista, Residensi Kamelia, and The Wyn Residences. Adding further breadth to the group’s performance, the education division continued to record solid growth with revenue rising to RM46.8 million from RM40.5 million in FY25, supported by higher student enrolment and fee revisions. Operating profit strengthened 23.2% to RM19.7 million from RM16 million previously, reflecting the resilience and stability of the group’s recurring income base. For the fourth quarter ended March 31, 2026 (Q4’26), the group recorded revenue of RM142.2 million, compared to RM143.4 million in the corresponding quarter last year. Patmi stood at RM13.2 progressive

MSM slips into RM13m loss before tax in Q1 KUALA LUMPUR: MSM Malaysia Holdings Bhd, producer of Malaysia’s leading refined sugar brand Gula Prai, recorded a loss before tax of RM13 million for the first quarter ended March 31, 2026 of the financial year ended Dec 31, 2026 (Q1’26). This compares with a profit before tax of RM8 million in the corresponding quarter last year. The performance was primarily affected by lower average selling prices, reduced sales volume and lower plant utilisation, which increased unit refining cost despite lower input related production costs. The group’s total revenue for the quarter stood at RM552.8 million, a decrease of RM196.9 million or 26.3% compared to RM749.7 million in Q1’25. The decline was mainly attributed to a lower average selling price and reduced sales volume. On the operational front, production cost fell by 7% year-on-year, supported by lower NY11, foreign exchange rates, and freight cost. However, this was partially offset by a 17% increase in refining cost due to lower utilisation factor. MSM Group CEO Dr Aini Shahar said, “The Q1’26 results reflect the continued margin pressure facing the domestic sugar industry, particularly from lower selling prices, imported sugar competition and lower utilisation.” While the operating environment remains challenging, Management has taken immediate actions to strengthen margin discipline, align production with demand, and optimise costs across the group. “Ongoing geopolitical uncertainties may continue to drive volatility in commodity prices, freight costs and foreign currency exchange. Against this backdrop, our focus is clear – to protect cash flow, improve operating discipline and restore profitability through tighter commercial controls, production optimisation and disciplined capital allocation,” Aini added. MSM continues to actively engage with the government to finalise a sustainable pricing framework to safeguard national food security and support the long-term viability of the domestic sugar industry. Since 1964, MSM played a central role in Malaysia’s sugar industry. Today, as one the world’s top 10 refiners, the group is doubling down on operational excellence, sustainability, and food security, while taking decisive steps to strengthen long-term resilience.

Resintech FY26 revenue reaches record RM161.6m KUALA LUMPUR: Main Market-listed plastic pipe and water tank manufacturer Resintech Bhd posted its financial results for the financial year ended March 31, 2026 (FY26), recording its highest-ever full-year revenue driven by increased demand for pipe systems across domestic and export markets.

For the full year, the group’s revenue increased 29.2% to RM161.6 million from RM125.1 million in FY25. In line with the higher revenue and improved gross profit margin, gross profit grew 38.8% to RM37.1 million. Profit before taxation (PBT) stood at RM19.5 million, while net profit attributable to owners of the company increased 20.1% to RM13.5 million, up from RM11.3 million a year earlier. Founder and managing director Datuk Dr Teh Kim Poo said, “Our FY26 performance reflects the strength of our core business. Demand for pipe systems remained healthy across local and export markets, and the group was able to convert this demand into record revenue and higher earnings attributable to shareholders. While the reported fourth-quarter PBT appears lower year-on-year because last year included a sizeable non-cash fair value gain on investment properties, the underlying operating performance was much stronger. This is the more meaningful comparison for our business. The 2 sen interim dividend reflects the board’s intention to reward shareholders while balancing the group’s working capital and expansion requirements. It also marks a meaningful step up from the 1.25 sen dividend paid for FY25.” For the fourth quarter ended March 31, 2026 (Q4’26), Resintech recorded a 39.1% increase in revenue to RM40.8 million, with the

Lower polyethylene resin costs, aided by a stronger ringgit and softer global oil prices, contributed to improved profitability during the year.

Cash and bank balances, together with fixed deposits, increased 43.9% to RM26.7 million as at March 31, 2026, while total borrowings stood at RM62.3 million. Net assets per share improved to 114.74 sen. The declared 2 sen per share interim dividend involves a total payout of approximately RM3.89 million and will be paid on July 3, 2026 to depositors registered as of June 19, 2026. Moving forward, the group expects product demand to remain supported by ongoing utilities, water-reticulation, and infrastructure requirements across Malaysia and regional markets. The financial year also coincides with preparations for Resintech’s Golden Jubilee, marking 50 years of operations since its founding in 1977.

quarter’s gross profit margin at 25.5%. The group noted that the fourth-quarter reported PBT of RM5.9 million should be read in the context of accounting adjustments from the previous corresponding period. In Q4’25, Resintech recorded a non-cash fair value gain on investment properties of RM5.3 million, compared to RM0.4 million in Q4’26. Excluding these non-operational accounting adjustments, Resintech’s operational PBT for Q4’26 more than doubled year-on-year to RM5.4 million from RM2.2 million previously. The improved profitability was also supported by a stronger ringgit and lower global oil prices, which reduced the cost of imported raw materials such as polyethylene resin. Consequently, net cash from operating activities doubled to RM20.5 million.

Hengyuan back in the black with highest quarterly net profit since Q2’22 KUALA LUMPUR: Hengyuan Refining Co Bhd reported a net profit of RM525.55 million for the financial quarter ended March 31, 2026 (Q1’26), returning to the black from a net loss of RM170.45 million during the same period a year ago (Q1’25) and achieving its highest quarterly net profit since Q2’22. tensions in the Middle East, supported by resilient and stable plant operations and disciplined financial risk management, which contributed to higher revenue growth. enabled us to optimise our product mix and capture the benefits of higher product margins for products such as gasoil and jet fuel. We believe these structural improvements will continue translating into tangible momentum moving forward.”

Chief financial officer Yeo Bee Hwan said: “We are delighted to announce another strong quarterly performance in Q1’26, setting up Hengyuan for a bright year ahead despite significant volatility in global oil prices. “Our disciplined operational execution and stable plant performance, along with proactive risk and financial management – strategic efforts undertaken since 2024 – have

As a result, she added they are strongly positioned to navigate today’s increasingly volatile external operating environment, where supply and demand dynamics continue to be influenced by macroeconomic developments, including geopolitical tensions.

Revenue surged to a two-year high, nearly doubling year-on-year to RM4.63 billion from RM2.4 billion in Q1’25. The improved performance was driven by increased average selling prices across all main products amid ongoing geopolitical