Trive Property slips to RM315,000 net loss in 2Q as revenue slides 90.8%

Trive Property Group Bhd fell into a net loss of RM315,000 for the second quarter ended 31 Jul 2026, from a net profit of RM1.999 million a year earlier, as revenue plunged 90.8% to RM608,000. The decline was due to higher tenant vacancies and the absence of renewable energy sales.

PETALING JAYA (Oct 1): Trive Property Group Bhd slipped into a net loss of RM315,000 for its second quarter ended Jul 31, 2026 (2QFY2027), compared with a net profit of RM1.999 million a year earlier, as revenue contracted sharply.

Quarterly revenue fell 90.8% to RM608,000 from RM6.594 million, according to its unaudited results filed with Bursa Malaysia on Wednesday (Sept 30). Loss per share stood at 0.02 sen, versus earnings per share of 0.16 sen previously. The group attributed the revenue decline mainly to increased tenant vacancies and the absence of renewable energy sales.

Gross profit declined to RM208,000 from RM2.115 million a year earlier, while operating expenses rose to RM490,000 from RM178,000. Its property investment business, which rents office premises, contributed RM534,000 in quarterly revenue and a pre-tax profit of RM61,000. The mechanical and electrical segment generated revenue of RM74,000 and a pre-tax profit of RM2,000.

The renewable energy segment recorded no revenue and a pre-tax loss of RM41,000. Trive said its existing projects had been completed and no new projects were secured during the quarter.

On a quarter-on-quarter basis, revenue rose 13.4% from RM536,000, supported by sales in the mechanical and electrical segment. However, its pre-tax loss widened to RM315,000 from RM175,000, which the group attributed mainly to a corporate exercise undertaken during the quarter.

For the six months ended Jul 31, Trive recorded a net loss of RM490,000 on revenue of RM1.144 million. No corresponding six-month comparatives were provided following the change in its financial year-end from Jul 31 to Jan 31. Property investment accounted for RM1.07 million of first-half revenue and generated a pre-tax profit of RM107,000.

Looking ahead, Trive expects its property investment business to remain stable in the coming quarter, supported by recurring rental income from existing tenants. However, management remains cautious about market uncertainties and potential pressure on occupancy and rental rates in a slower economic environment. The renewable energy segment is expected to remain subdued in the near term unless new projects are secured.

As at Jul 31, the group disclosed RM5.455 million in capital expenditure commitments for upgrading Persoft Tower, classified as contracted but not provided for. Cash and bank balances stood at RM674,000, while fixed deposits totalled RM16.812 million. The group reported no borrowings or debt securities. No dividend was proposed or declared for the quarter.