I-Berhad property investment PBT rises 30% to RM20m, group PBT falls to RM37.7m

I-Berhad's property investment segment posted a 30% year-on-year rise in profit before tax to RM20 million for the nine months ended Sept 30, 2026. However, group PBT fell to RM37.7 million from RM53.4 million, with revenue declining to RM130.6 million.

PETALING JAYA (Nov 11): I-Berhad's property investment segment recorded a 30% year-on-year increase in profit before tax (PBT) to RM20 million for the nine months ended Sept 30, 2026, from RM15.4 million. However, group PBT fell to RM37.7 million from RM53.4 million a year earlier, while revenue declined to RM130.6 million from RM205.6 million.

In a statement on Tuesday (Nov 10), the developer attributed the lower group earnings mainly to the current phase of its property development cycle, with contributions coming largely from sales of remaining completed inventories. The group said the property investment segment's improved performance was supported by stable income from Mercu Maybank, full occupancy at its data centre, contributions from car park operations and a higher share of results from Central i-City Mall, in which it holds a 40% interest.

I-Berhad is working with Savills Malaysia to reposition CityWalk in i-City, Shah Alam, as an artificial intelligence (AI) and robotics retail and lifestyle destination. It said the initiative aims to attract new business concepts, improve the tenant mix and strengthen visitor engagement and rental performance.

I-Berhad said it has about RM5 billion in remaining gross development value within i-City. Its proposed 500-unit residential development, i-Ris, AI Living @ i-City, had its digital launch in October. Completion is targeted for 2030, with sale and purchase agreement signings targeted to begin in April 2027.

The group said it is progressing marketing initiatives, technology partnerships and the development of an AI companion intended to understand residents' preferences and coordinate their daily needs through AI, robotics, wellness and lifestyle services. I-Berhad also plans to introduce an AI concierge towards the end of 2026. Drawing on capabilities being developed for the companion, the concierge is intended to demonstrate personalised guest assistance and facilitate access to i-City's leisure, hospitality and lifestyle offerings.