Selangor Dredging plans 122-villa Penang project, reports RM155.78m unbilled sales

Selangor Dredging Bhd is planning a 122-villa residential development with a clubhouse near Bukit Mertajam, Penang. The developer also reported RM155.78 million in unbilled sales from its ongoing projects DaMai in Selangor and Elina Resort Homes in Puchong.

PETALING JAYA, Oct 1 — Selangor Dredging Bhd (SDB) is planning a residential development near Bukit Mertajam, Penang, comprising 122 three-storey superlink villas and a clubhouse. The announcement was made after the company’s 65th annual general meeting on Wednesday, Sept 30.

SDB also reported RM155.78 million in unbilled sales from its ongoing residential projects. These comprise DaMai in Taman Melawati, Selangor, and Elina Resort Homes @ Senai in Puchong, Selangor.

According to its audited financial statements, SDB posted a pre-tax loss of RM35.64 million for the financial year ended March 31, 2026 (FY2026), compared with a pre-tax profit of RM29.71 million a year earlier. Revenue fell to RM173.87 million from RM375.95 million, while the group recorded a net loss of RM41.07 million.

Managing director Teh Lip Kim attributed the performance to the timing of the group’s development cycle, with earlier projects reaching completion while newer projects remained at an early stage of construction during FY2026. She said the completion of one project and the progress of the next could have a pronounced effect on annual revenue for a boutique developer such as SDB.

“Our focus is on delivering our current projects well and building the next phase of our pipeline,” Teh said.