Petaling Jaya: I-Berhad (I-BHD), master developer of I-City, Shah Alam, posted revenue of RM117.01 million for the fourth quarter ended Dec 31, 2025 (Q4 FY25), an increase of 82.55% from RM64.10 million recorded in the same quarter last year, reflecting better execution momentum across its core segments.
For Q4 FY25, the group’s property development segment emerged as the primary growth engine, generating revenue of RM75.2 million, up from RM42.1 million in the previous quarter.
This growth was due to accelerated construction progress and higher progressive billings from the ongoing development within I-City, reflecting improved project execution and operational efficiency.
According to Bursa Malaysia filings, I-Bhd’s net profit rose 60.97% to RM10.83 million in Q4 FY25, compared with RM6.72 million in the same quarter last year.
Profit before tax (PBT) was RM77.1 million in FY2015, an 80% year-on-year increase from RM42.8 million in FY24.
The strong year-on-year improvement underlines the Group’s strong execution capabilities and earnings momentum.
Notably, performance was achieved during the year despite a measured operating strategy, demonstrating the Group’s ability to generate substantial revenues and profitability from its existing growth and recurring income base.
Segmental PBT for the quarter stood at RM13.1 million, compared to RM16.1 million in Q3 FY25, where the comparative quarter was boosted by the write-back of earlier project-related provisions that were no longer required following the completion of contractual deliverables.
The property investment segment delivered stable revenue of RM6.9 million, based on the consistent rental contribution from Merku Maybank, the group’s data center and car park properties in i-City and ancillary income from the Central i-City Mall.
Segmental PBT stood at RM3.7 million, maintaining a solid recurring income base that continues to provide earnings stability.
The leisure and hospitality sector continued its upward trend and recorded revenue of RM33.8 million, an increase of 6% quarter-on-quarter.
Segmental PBT improved to RM7 million, supported by sustained visitor numbers and stable operating performance at i-City’s attractions, strengthening the segment’s role in supporting the Group’s overall earnings resilience.
For FY25, I-Bhd achieved revenue of RM322.6 million and PBT of RM77.1 million, reflecting the effectiveness of its diversified income model.
Property developments contributed RM172.3 million to revenue and RM39.5 million to PBT, demonstrating the Group’s ability to efficiently monetize its existing pipeline.
The property investment delivered revenue of RM26.8 million and PBT of RM19.1 million, underlining the group’s growing recurring income contribution.
The leisure and hospitality sector recorded revenue of RM120.6 million and PBT of RM20.9 million, providing stable cash flow support and enhancing earnings stability.
“This strong position as we approach FY2025 reflects the resilience of I-BHD’s multi-engine business model and the disciplined execution of our growth and investment strategies,” I-BHD chairman Tan Sri Lim Kim Hong said in a statement.
“The increase in property development billings in the fourth quarter, coupled with stable recurring income from our investment assets and leisure operations, has enabled the group to deliver another solid quarter of profitability.”
Lim said the group’s remaining gross development value of approximately RM5 billion within i-City provides a strong base for future growth, with the upcoming launch expected to further increase revenue contribution and earnings momentum.
“The results validate the strength of our existing growth and operating platform.
“With new launches in the pipeline, we are confident that the group is well positioned to deliver continued growth and unlock further value in the coming financial years.
“As we move into the next phase of i-City’s development, we are focused on strengthening recurring income, enhancing asset productivity and future-proofing the township through technology with artificial intelligence and robotics,” Lim said.
“Through AI World, Malaysia’s first AI-enabled urban precinct, we are sequentially integrating digital infrastructure, smart systems and data-driven management into the i-City ecosystem to improve operational efficiency, elevate service standards and enhance the performance of our assets.
“Importantly, these initiatives are based on business outcomes, not technology. They are part of our long-term strategy to strengthen recurring income streams, enhance asset productivity and differentiate i-City as Malaysia’s benchmark for AI-enabled urban living,” he said.
Lim said that by developing AI Living at i-City, the world’s first AI and robotics residential tower, as a real-world testing and commercialization platform for humanoid robotics, the group is accelerating the integration of embodied intelligence into everyday residential life.
Planned to be completed in 2030, the 500-unit tower is engineered for a future in which humans and robots with embodied intelligence will co-exist in a single, fluid environment.
Looking ahead, the Group remains cautiously optimistic about its prospects, supported by Malaysia’s stable economic outlook, ongoing urbanization and continued demand for integrated, technology-enabled townships.
With a proven execution track record and a substantial growth pipeline, I-Bhd is poised to achieve further revenue growth and long-term value creation for its stakeholders.
