Times Square owner Berjaya Assets shrinks 4Q loss with accounting gains

• Revenue for the quarter rose 3.5% year-on-year to RM66.62 million thanks to additional ferry slots and stronger demand for diesel as well as progress billings from the Times Square 2 project. Higher occupancy rates and stronger food and beverage sales meanwhile boosted its hotels.

KUALA LUMPUR (Aug 20): Berjaya Assets Bhd (KL:BJASSET), the developer of Times Square, said on Wednesday it narrowed net loss for the fourth quarter with accounting gains and revenue growth.

Net loss for the three months ended June 30, 2025 (4QFY2025) was RM1.71 million, according to an exchange filing. During the quarter, Berjaya Assets booked net fair value gain on investment properties of RM4.3 million and a reversal of impairment on land held for development of RM1.74 million.

Revenue for the quarter rose 3.5% year-on-year to RM66.62 million thanks to additional ferry slots and stronger demand for diesel as well as progress billings from the Times Square 2 project. Higher occupancy rates and stronger food and beverage sales meanwhile boosted its hotels.

No dividend was declared for the quarter under review.

For the full financial year, net loss narrowed to RM17.79 million from RM20.81 million, as revenue climbed nearly 7% to RM259.15 million from a year earlier.

Apart from Berjaya Times Square, the company also operates ferry services from its Berjaya Waterfront Terminal that connects Johor with Batam and Bintan Islands in Indonesia. 

The global economic growth is expected to be impacted by the prevailing geopolitical tensions and trade war, inflationary pressures, interest costs and rising energy costs, the company flagged in its outlook for 2025.

“Despite these challenges, the domestic economy is anticipated to recover at a moderate pace,” the company added.

Shares of Berjaya Assets closed unchanged at 30.5 sen on Wednesday, valuing the group at RM767.79 million ahead of the results announcement.

Does Malaysia have what it takes to become a Blue Zone, marked by health and longevity? Download a copy of EdgeProp’s Blueprint for Wellness to check out townships that are paving the path towards that.