Sunsuria 1Q profit slips amid lower progressive property recognition

KUALA LUMPUR (Feb 12): Property developer Sunsuria Bhd (KL:SUNSURIA) reported sharp drops in its first quarter net profit and revenue, primarily due to lower progressive profit recognition from its completed property projects.

The group, which is also involved in construction and education services, saw its net profit for the first quarter ended Dec 31, 2025 fall to RM1.69 million from RM8.87 million in the year-ago quarter, while revenue fell to RM118.04 million from RM158.38 million, its bourse filing on Wednesday showed.

The group said its education division, despite higher revenue with more student enrolments, reported a higher loss due to higher personnel costs following the recruitment of expatriate teachers, as well as higher finance costs incurred in the quarter under review.

Also weighing on its quarterly earnings were its new property investment division, which incurred a higher loss mainly due to operating expenses incurred in preparation for the opening of Sunsuria Forum Mall, which began initial operations in December 2025.

On the expansion front, the group said it had finalised a development rights agreement with Kwasa Development Sdn Bhd, a subsidiary of Kwasa Land Sdn Bhd, for a new residential project with a gross development value of RM492 million. The first phase is scheduled to launch in the third quarter of 2026.

Sunsuria’s share price closed unchanged at 37.5 sen per share on Wednesday, valuing the company at about RM336 million. 

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