PETALING JAYA: Sunsuria Bhd
said its underlying fundamentals remain “intact” despite a weaker first quarter ended Dec 31, 2025 (1Q26).
In a statement, the property developer said the softer quarterly results were largely due to timing of project completions, but the group remains committed to long-term growth and building a resilient development pipeline.
It added that its priority is to strengthen recurring income through strategic investments that create long-term stakeholder value.
“The group remains focused on disciplined execution and well-timed project launches, against a backdrop of rising costs and more selective buyer sentiment,” it noted.
“While the current quarter reflects the natural timing of profit recognition following the completion of major projects, the group’s underlying fundamentals remain intact.”
For 1Q26, Sunsuria’s revenue fell 25.5% to RM118.04mil from RM158.38mil in the previous corresponding quarter, while net profit plunged 80.9% to RM1.69mil from RM8.87mil.
The group attributed the weaker results mainly to lower contributions from its property development segment following the completion of major projects in the previous financial year, partially cushioned by higher progressive profit recognition from ongoing projects.
Property development segment remained the largest contributor, generating RM115.08mil in revenue, down 25% from a year earlier, with profit before tax declining 42.2% to RM18.72mil.
Meanwhile, losses widened across the group’s other segments, with some slipping into the red.
The construction division recorded a loss before tax of RM353,000 compared with a profit of RM2.73mil previously.
The healthcare segment, which partnered with Australia-based Icon Group to develop cancer centres nationwide, posted a loss of RM842,000 from RM648,000.
The education segment, which includes initiatives such as Xiamen University Malaysia and Concord College International School, reported a larger loss of RM3.9mil from RM3.08mil, mainly due to higher personnel expenses and finance costs.
Property investment segment losses also expanded to RM2.85mil from RM395,000, largely due to operating expenses incurred ahead of the opening of Sunsuria Forum Mall, which commenced initial operations in December 2025.
Despite the short-term pressure, Sunsuria continued to expand its development pipeline.
During the quarter, the group completed a development rights agreement with Kwasa Development (13) Sdn Bhd, a unit of Kwasa Land Sdn Bhd, for a residential project on 9.46 acres of freehold land in Sungai Buloh, with an estimated gross development value of RM492mil.
Sunsuria said phase 1 of this development is targeted for launch in the third quarter of 2026.
Separately, Sunsuria entered into a conditional share sale and purchase agreement to acquire an additional 41% stake in KL City Gateway Sdn Bhd for RM21.46mil.
Upon completion, its stake in KL City Gateway will rise to 61%, allowing the group to recognise KL City Gateway as a subsidiary and consolidate its financial results.
KL City Gateway is undertaking the planned redevelopment of about 9.66 acres of land near Kuala Lumpur City Centre, adjacent to the Saloma Bridge, which Sunsuria expects to contribute positively to earnings over the medium to long term.
