I-Bhd posts net profit surge to RM23.5mil in 3Q

KUALA LUMPUR: A strong performance across business segments drove I-Bhd's top- and bottom-lines higher in the third quarter ended Sept 30, 2025 (3QFY25).

Announcing its quarterly result, the group said net profit in 3QFY25 jumped to RM23.5mil from RM12.94mil in the year-ago quarter, while earnings per share climbed to 1.27 sen from 0.7 sen previously.

The group's quarterly revenue surged to RM81.28mil from RM61.91mil in the comparative quarter.

For the nine-month period to Sept 20, 2025, I-Bhd's net profit doubled to RM44.91mil from RM22.46mil in the year-ago period. Revenue rose to RM205.63mil in 9MFY25 from RM158.07mil in 9MFY24.

The group said in a statement its performance was  supported by robust contributions from the property development and property investment segments, prudent cost management, and a one-time recovery of funds no longer required after the completion of key project milestones.

The main revenue driver, property development, delivered 51% higher revenue of RM42.1mil from the year-ago quarter on the back of progressive billings from BeCentral Serviced Residences, alongside healthy sales momentum within i-City and 8 Kia Peng.

The property investment segment posted 40% higher revenue of RM6.8mil, underpinned by stable rental income from Mercu Maybank, the Group’s data centre and car park assets in i-City, as well as higher associate income from Central i-City Mall.

Lastly, there was 16% increase in revenue from the group's leisure and hospitality segments to RM31.8mil, due to strong visitor footfall during the holiday period.

I-Bhd chairman Tan Sri Lim Kim Hong said the group has a remaining greoss development value (GDV) of RM5bil to be realised within I-City, which will sustain earnings visibility over the longer-term.

He said the group’s technology-led growth strategy, anchored by AI World, touted to be Malaysia’s first AI-enabled urban precinct, marks the next chapter in i-City’s evolution.

“AI World will catalyse the next growth phase by integrating smart infrastructure, digital platforms, and experiential living. It positions i-City as the national benchmark for intelligent, connected urban ecosystems designed for the AI era.”