IOI Properties' 3Q profit more than halves on higher interest expense
The group recorded net interest expense of RM100.
The group recorded net interest expense of RM100.
IOI Properties’ hospitality & leisure segment more than doubled its revenue, primarily driven by contributions from three new additions to the portfolio, namely Moxy Hotel, W Kuala Lumpur and Courtyard by Marriott Penang.
HLIB also highlighted IOI Properties as an overlooked beneficiary of the Johor-Singapore Special Economic Zone (JS-SEZ), holding the largest landbank in Johor among developers, totalling 5,200 acres.
The property investment segment recorded operating profit of RM133.
ISR 2030 outlines 12 strategic pillars driving IOI Properties' initiatives to address climate change, biodiversity, waste management, sustainable finance, supply chain management, employee well-being, and sustainability risks and opportunities.
A total of 1,600 residential and commercial units will be developed within the first five years of IOI Rio City's development.
IOI Properties group chief operating officer Teh Chin Guan: "With three industrial parks, including one under planning, in industrial growth areas such as Johor, Selangor and Melaka, I am confident that the launch of the IOI Industrial Park series readily positions the group as one of the premiere industrial developers in the country.
It developments 2 Rio Office Park and 2Rio Residence in IOI Rio have eco-friendly features and excellent connectivity while the company organises public engagement and awareness events like the City Nature Challenge (CNC) 2024, CNC Kids Nature Walk, Town Park Night Walk, Earth Hour and Waste to Treasure campaigns.