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The Sun
30-05-2025
- Business
- The Sun
Southern Score posts best-ever 9M earnings, eyes Bursa main market transfer
KUALA LUMPUR: Southern Score Builders Bhd, a construction management specialist for high-rise residential buildings and civil infrastructure, posted a revenue of RM59.8 million for the third quarter (Q3) ended March 31, 2025 (FY25), surging 52.1% from RM39.4 million posted in Q3 FY24. Net profit also grew by 39.4% year-on-year (YoY) to RM10.0 million, up from RM7.2 million in Q3 FY24. For the nine-month (9M) of FY25, Southern Score recorded a revenue of RM140.0 million, representing a YoY increase of RM32.9 million or 30.7% from RM107.1 million in the 9M FY24. The double-digit growth was driven mainly by the group's mechanical and electrical (M&E) arm, SJEE Engineering Sdn Bhd's (SJEE) maiden contribution as well as higher revenue from turnkey construction services following the commencement of the Platinum Melati Residences project. At the bottom line, net profit jumped 53.8% YoY to RM28.6 million, up from RM18.6 million in 9M FY24. The growth was attributed to cost savings from the main building work projects of Vista Harmoni Sentul Residences and PV 22 Residences. Notably, this marks Southern Score's highest-ever net profit for a nine-month period. Executive director and CEO Gan Yee Hin said the company delivered its best-ever nine-month bottom-line performance. 'This was partly driven by the maiden contribution from our M&E arm — a clear indication that our investment is already yielding results. 'Looking ahead, we continue to be upbeat on the prospects as we see vast opportunities for both our construction and M&E divisions,' he said. Gan also noted that the Department of Statistics Malaysia reported that the value of work done in the construction sector continued its upward trend, recording a moderate increase of 16.6% to RM42.9 billion in the first quarter of 2025. Meanwhile, the Malaysian data centre market is projected by Arizton Advisory & Intelligence to reach US$13.6 billion by 2030 from US$4.0 billion in 2024. On top of that, the Johor-Singapore Special Economic Zone (JS-SEZ) opens up new opportunities for us as it is attracting interest from multinational corporations, particularly in the medical, pharmaceutical, and artificial intelligence (AI) sectors, which are exploring potential investments in the area. 'These positive developments bode well for the group, and with our technical expertise and proven track record, we are well-positioned to seize the opportunities ahead,' Gan said. To recap, SJEE had in April 2025 secured a RM51.4 million M&E contract for a data centre project at Elmina Business Park, Selangor. 'This boosted the order book of our M&E arm to RM105.7 million, while the order book for the construction segment stands at RM1.3 billion as of end-April 2025. 'This gives us clear earnings visibility in the coming years,' said Gan. On the corporate front, Gan said the group had proposed in March 2025 to undertake the transfer of the listing and quotation for Southern Score's entire issued share capital from the ACE Market to the Main Market of Bursa Malaysia. 'The transfer represents another major milestone for everyone at SSBB. We believe this exercise will enhance the group's corporate profile, credibility, and reputation, while according Southern Score a greater recognition and following amongst institutional investors. 'Besides, the transfer would boost the confidence of all our stakeholders and better reflect our group's current scale of operations,' said Gan. Southern Score board expects the transfer to be completed within the second half of 2025, barring any unforeseen circumstances and subject to all required approvals being obtained. Gan said the group had proposed in March 2025 to undertake the transfer of the listing and quotation for Southern Score's entire issued share capital from the ACE Market to the Main Market of Bursa Malaysia.
New Straits Times
30-05-2025
- Business
- New Straits Times
Reach Ten logs RM7.1mil net profit on RM23.1mil revenue in Q1
KUALA LUMPUR: Sarawak-based telecommunications service provider Reach Ten Holdings Bhd (Reach Ten) posted a net profit of RM7.1 million on revenue of RM23.1 million for the first quarter (Q1) ended March 31, 2025. Revenue for the quarter was mainly driven by Reach Ten's satellite-based communication networks and services segment, which contributed 63.2 per cent of total revenue. "Fibre optic communication networks and services accounted for 21.4 per cent, while telecommunications infrastructure and managed services contributed 15.4 per cent," it said in a statement. There are no comparative figures for the corresponding preceding quarter's results as this is the second interim financial report by the company in compliance with the listing requirements. Reach Ten declared a first interim single-tier dividend of 1.0 sen per share for its financial year ending December 31, 2025 (FY25). The payout, totalling RM10.0 million, will be paid on July 21 to shareholders whose names appear on the record of depositors on June 30. Managing director Leo Chin said the maiden post-listing dividend is in line with the company's dividend policy to distribute up to 30 per cent of its net profit, reflecting its commitment to enhancing shareholder value and delivering sustainable returns. "With healthy cash and bank balances, as well as fixed deposits of RM63.0 million, Reach Ten aims to maintain a balanced approach between rewarding shareholders through dividend distributions and retaining sufficient capital to support future growth and strategic initiatives," Lee said. Reach Ten remains optimistic about its business outlook, supported by positive structural trends in Malaysia's telecommunications sector. "Our strategic focus on underserved markets, particularly in Sarawak, positions us well to capture emerging opportunities and deliver long-term value to our shareholders," Chin added.
