IOI Properties FY2026 net profit doubles to RM2.15b, revenue hits record RM4.44b
IOI Properties Group Bhd reported net profit attributable to shareholders more than doubled to RM2.15 billion for FY2026, as revenue rose 45.1% to a record RM4.44 billion. The stronger full-year performance was driven by contributions from the consolidated South Beach office tower and JW Marriott Si
PETALING JAYA (Aug 27): IOI Properties Group Bhd’s net profit attributable to shareholders more than doubled to RM2.15 billion for the financial year ended June 30, 2026 (FY2026), as revenue rose 45.1% to a record RM4.44 billion.
Profit attributable to owners of the company increased 102.5% from RM1.06 billion in FY2025, while profit before tax climbed 82% to RM2.65 billion from RM1.45 billion, according to the group’s unaudited results in a Bursa Malaysia filing on Thursday (Aug 27). Earnings per share rose to 39.13 sen from 19.32 sen.
The stronger full-year performance came despite a weaker reported fourth quarter, when profit attributable to owners fell 36.5% year on year to RM523.11 million from RM823.93 million, even as revenue jumped 55.8% to RM1.39 billion from RM890.21 million. The decline in 4QFY2026 earnings mainly reflected a smaller fair-value gain on investment properties of RM288.1 million, compared with RM915.6 million in the corresponding quarter a year earlier.
On the group’s stated underlying basis, however, 4Q PBT rose 98% to RM424 million from RM214.1 million. IOI Properties attributed the underlying improvement to contributions from the newly consolidated South Beach office tower and JW Marriott Singapore South Beach operations, the recognition of Ampang land sales, and higher occupancy at IOI Central Boulevard Tower.
For FY2026, the group said underlying PBT rose 91% to RM1.30 billion from RM681.7 million, excluding fair-value gains on investment properties, a RM502.8 million gain from the remeasurement of its previously held interest in a joint venture, and inventory write-downs. The remeasurement gain arose after IOI Properties acquired the remaining 50.1% interest in Scottsdale Properties Pte Ltd, which owns the South Beach office tower and JW Marriott Singapore South Beach operations. The group also recognised RM855.2 million in fair-value gains on investment properties for the full year, compared with RM915.6 million in FY2025.
The board declared an interim dividend of eight sen and a special dividend of eight sen per share, bringing total dividends declared for FY2026 to 16 sen per share, double the eight sen declared for FY2025. The dividends will be paid on Sept 24 to shareholders registered by Sept 15.
Property development revenue rose 48% to RM779.2 million in 4QFY2026, while segment operating profit increased 55% to RM235.8 million. For the full year, property development revenue increased to RM2.22 billion from RM1.65 billion, while segment operating profit climbed 62% to RM739.7 million from RM456 million. Property investment was the strongest operating contributor in the fourth quarter, with revenue rising 71% to RM413.1 million and operating profit jumping nearly fourfold to RM272.8 million from RM68.4 million. For FY2026, property investment operating profit rose 82% to RM850.7 million from RM466.8 million, while revenue grew 49% to RM1.41 billion.
Property development sales totalled RM3.91 billion in FY2026, with Malaysian projects contributing RM3.53 billion, or 91%. China accounted for RM247.7 million and Singapore RM132.3 million. Unbilled sales reached a record RM2.51 billion. The Securities Commission Malaysia has approved the proposed establishment and listing of IOIPG Malaysia REIT. Separately, shareholders approved the proposed acquisition of Asia Square Tower 2 in Singapore at an extraordinary general meeting on Thursday, with completion anticipated in 3QCY2026.
