Revaluation gains from Southpoint acquisition send IOI Properties’ first-quarter net profit soaring 8.6 times

(Kuala Lumpur, 25th) IOI Properties Group (IOIPG, 5249) recorded a strong start to its FY2026 financial year, with net profit for the first quarter (ended 30 September) surging 8.6 times year-on-year to RM664.33 million, compared to RM69.17 million in the previous corresponding period.

Revenue for the quarter rose 40.83% to RM968.70 million, from RM687.85 million a year earlier.

In its quarterly report, the group attributed the strong results to solid performance across all three core business segments, with property development being the main contributor.

Segment Performance

• Property Development
  Revenue: RM519.30 million (+47%)
  Operating profit: RM155 million (+106%)
  The group noted that strong domestic sales driven by mature and thriving township projects boosted this segment.
• Property Investment
  Revenue: RM287.20 million (+31%)
  Operating profit: RM149.70 million (+12%)
• Hospitality & Leisure
  Revenue: RM159 million (+44%)
  Operating profit: RM4.3 million (-28%)

Strong Overseas Performance

IOI Properties reported encouraging sales from its China projects, reflecting the effectiveness of its recent marketing strategies.

The group also completed the acquisition of the remaining stake in Singapore’s South Beach development on 1 September 2025, unlocking value from its existing holdings and recording a one-off revaluation gain.

The acquisition is expected to strengthen the group’s presence in Singapore’s office and hospitality markets and raise future recurring income.

The group highlighted that Singapore’s low interest rate environment is favourable, as about 84% of its borrowings are denominated in SGD.

Outlook

IOI Properties expects continued strong performance in FY2026, supported by:

• A diverse product mix across multiple markets
• Stable recurring income from its mature investment property portfolio
• Positive momentum in the hospitality and leisure sector