SUNSURIA Ends The Year on a Positive Note With Higher Q4 Revenue of RM65.5 Million

KUALA LUMPUR: Sunsuria Berhad (“Sunsuria”) announced today its revenue and net profit of RM65.5 million and RM7.79 million for the current quarter under review.

For the fourth quarter ended 30th September 2021 (“Q4”), Sunsuria’s revenue rose year-on-year (“YoY”) to RM65.5 million compared to the RM61.3 million recorded in the corresponding quarter a year earlier (“Q4 FY2020”).

Quarter-on-quarter, Q4 revenue was higher at RM65.5 million from RM62.21 million in the preceding quarter.

Revenue for Q4 was derived from the completion of Sunsuria’s Monet Garden Townhouses and Villa Project and the Giverny Walk project, as well as contribution from the Group’s ongoing property developments – Monet Springtime, Tangerine Suites at Sunsuria City, Sunsuria Forum (Phase 2) @ 7th Avenue at Setia Alam and Block D Verdura at Bangsar Hill Park at Lorong Maarof in Bangsar.

Sunsuria capped the financial year ended September 30th 2021 (“FY2021”) with year-to-date revenue increasing by 21% YoY to RM238.6 million from RM197.08 million recorded in the previous year’s corresponding period (“FY2020”).

Meanwhile, net profit for FY2021 was at RM21.81 million as compared to the RM29.1 million recorded in FY2020.

The lower net profit for the current 12-month period was attributed to operating expenses from the Bangsar Hill Park project.

Revenue contribution from the Bangsar Hill Park project to the current quarter is marginal as the project is still at the initial stage of development.

The Bangsar Hill Park project has an estimated gross development value (“GDV”) of RM3.01 billion.

“We are encouraged to have ended the financial year on a positive note, given the global pandemic. The past two years has been challenging for everyone, as we learned to survive and thrive under the new normal. Recognising the challenging economic situation, Sunsuria has been proactively employing innovative solutions to enable Malaysians to purchase their future homes,” said Sunsuria’s Executive Chairman Tan Sri Datuk Ter Leong Yap.

“The consistent revenue contribution from Tangerine Suites and Sunsuria Forum (Phase 2) developments has demonstrated the effectiveness of our ‘Yours to Own’ Houzkey home ownership campaign. Winning the Best Sustainable Township Development for Sunsuria City was another feather in our cap – affirming and galvanising our commitment towards pursuing innovation for greater stakeholder value,” he said.

“Moving forward, the reopening of the economy under the National Recovery Plan, and the government’s ongoing vaccination efforts bode well for the country’s economic outlook. The Real Property Gains Tax (RPGT) waiver for properties disposed of in the sixth year, as well as the government’s RM2 billion Housing Credit Guarantee Scheme to facilitate mortgage loans for Malaysian gig economy workers and small traders, will help bolster the property industry. As lockdown restrictions relax, we must not let our guard down but continue to be vigilant in complying and enforcing the Standard Operating Procedures (SOPs). Only by working together can we prevent new Covid-19 outbreaks and do our part in tackling this pandemic,” said Ter.

Launched in partnership with Maybank Islamic in March this year, Sunsuria’s ‘Yours to Own Houzkey’ home ownership campaign offers 100% financing with no down payment required, zero payment during the construction period, and low monthly payment with financing rates starting from RM680 that will be required to be serviced upon completion of the project and after the vacant possession stage. The developments offered under the Houzkey campaign are Sunsuria City’s high-rise development Tangerine Suites, as well as Sunsuria Forum’s Residential Suites & SOHO in Setia Alam.

The campaign, which ends on December 31st this year, enables eligible homeowners to enjoy the benefits under the government’s Home Ownership campaign, which include stamp duty exemptions, Memorandum of Transfer waivers and 10% discount on the purchase of property.

In March, Sunsuria’s flagship integrated development Sunsuria City was named Best Sustainable Township Development at the ASEAN Property Awards Malaysia 2020/2021, which recognises innovation and creativity in the property development sector.

ABOUT SUNSURIA BERHAD

The roots of Sunsuria Group dates to 1989, when its founder and owner, Tan Sri Datuk Ter Leong Yap, started to develop various residential, commercial, and industrial property projects within Klang Valley. Today, Sunsuria has grown into a multi-faceted and well-established public listed property developer, that has also diversified into construction, landscape & nursery, food & beverages, education, integrated healthcare, retail, investment holding, material handling equipment, trading and other business complimentary joint ventures.

Sunsuria has embarked on a 525-acre flagship development located at Salak Tinggi, Putrajaya South with the name of “Sunsuria City”. The development is designed with the guiding principles of Smart, Livable and Sustainable. It is a freehold integrated township that will become the new international landmark with Xiamen University Malaysia, the first overseas university campus from China.

Sunsuria has been growing from strength to strength, embracing new challenges as we expand our expertise. Being a community-focused, growth and value-oriented developer, Sunsuria places reliability at the core of its operations and will continue to ensure better value creation for its stakeholders, focusing especially on our customers.

Over the years, Sunsuria has gained recognition as among the leading property developers in Malaysia, such as being listed as one of the 15 Malaysian companies in the Forbes Asia's Best Under A Billion (USD) 2020, winning the Best Sustainable Township development for Sunsuria City in the ASEAN Property Developer Award 2020/2021, the Honour Award for Landscape Design (Professional Category) for Suria Residence at the Malaysia Landscape Architecture Awards 2020, CIDB QLASSIC 2020 High Achievement, High rise Residential Development (The Olive @ Sunsuria City), The Proximity Award on Best Integrated Development – Sunsuria Forum at Starproperty 2020 and other notable accolades such as Focus Malaysia’s Best Under Billion Awards 2019’s Best Revenue Growth, Best Profit Growth, and the awards’ Overall Winner for 2019, The Cornerstone Award on Best Landed Development for Monet Residences by Starproperty.my Awards 2019, Property Insights Prestigious Developers Awards (PIPDA) 2018 for Best Office Development, Best Small Homes Development for Bell Suites by Starproperty.my Awards 2018, CHT Pursuit of Excellence Developer Property Award 2018, Highest Returns to Shareholders Over Three Years (Property) at The Edge Billion Ringgit Club Corporate Awards 2017, The Edge Top 30 Property Developers Award 2016-2017, Best Township Development by iProperty.com Malaysia People’s Choice Awards 2016 and Best Sustainable Township Development 2016 by Property Insights.

This content is provided by Sunsuria Berhad

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