MUI Properties posts RM25m Q4 loss on impairments, but FY2026 profit jumps to RM83.4m
MUI Properties Bhd slipped into a net loss of RM25.07 million in the fourth quarter ended June 30, 2026, hit by impairment and fair value losses and lower revenue. For the full financial year, however, net profit surged to RM83.42 million on the back of major land sales to Gamuda and Antmed.
PETALING JAYA (Aug 26): MUI Properties Bhd recorded a net loss attributable to owners of RM25.07 million in the fourth quarter ended June 30, 2026 (4QFY2026), reversing from a net profit of RM2.49 million a year earlier, weighed down by an impairment loss on an investment property and a fair value loss on other investments.
Quarterly revenue fell 42.3 per cent to RM29.01 million from RM50.30 million, which the property developer attributed to the near completion of most of its industrial projects, according to its Bursa Malaysia filing on Wednesday. The group posted a loss before tax of RM23.33 million, against a profit before tax of RM14.34 million in 4QFY2025.
MUI Properties said the quarterly loss was mainly attributable to a RM12.88 million impairment loss on an investment property, a RM5.89 million fair value loss on other investments (versus a RM8.12 million fair value gain a year earlier), and lower revenue. The group also recorded a net foreign-exchange loss of RM5.62 million, narrower than RM14.52 million previously.
For the full FY2026, however, net profit attributable to owners jumped to RM83.42 million, or 11.26 sen per share, from RM2.03 million in FY2025. Revenue nearly tripled to RM502.07 million from RM170.18 million, while profit before tax rose to RM243.53 million from RM32.81 million.
The group said the stronger full-year performance was mainly driven by higher revenue from the disposal of four contiguous parcels of freehold land in Bandar Springhill, Negeri Sembilan, to Gamuda DC Infrastructure Sdn Bhd, an indirect wholly-owned subsidiary of Gamuda Bhd, for RM424.4 million for a planned high-tech digital-infrastructure hub. The disposal, conducted via West Synergy Sdn Bhd (WSSB), an indirect 60%-owned subsidiary of MUI Properties, was completed on Aug 13, 2025.
MUI Properties said WSSB recognised the full balance of revenue from its two key land transactions during FY2026. The second transaction was the disposal of 53 acres in Bandar Springhill to Antmed Malaysia Sdn Bhd for RM80.8 million, completed on April 7, 2026. The group said the transactions were expected to help transform Bandar Springhill into a high-technology and industrial hub.
As at June 30, MUI Properties had RM183.91 million in cash and bank balances and no group borrowings. No further dividend was declared for FY2026, after the company had previously paid an eight sen special dividend and a 3.5 sen second interim dividend totalling about RM85.21 million.
