Sunsuria Kicks Off The Year With 121% YOY Increase In Q1 Revenue

KUALA LUMPUR: Sunsuria Berhad (“Sunsuria”) announced today its revenue and net profit of RM106.03 million and RM7.60 million for the current quarter under review.  

For the first quarter ended 31st December 2021 (“Q1”), Sunsuria’s revenue more than doubled by 121% year-on-year (“YoY”) to RM106.03 million compared to the RM47.94 million recorded in the corresponding quarter a  year earlier (“Q1 FY2021”).  

Net profit for Q1 grew 43% YoY to RM7.60 million from RM5.32 million recorded in Q1 FY2021.  

The higher net profit was due to contribution from Monet Garden and  Monet Springtime projects, the latter which was completed in Q1 FY2022. 

Quarter-on-quarter (“QoQ”), Q1 revenue increased by 62% to RM106.03 million from RM65.50 million in the preceding quarter (“Q4 FY2021”).  

Revenue for Q1 was derived from the sales of Sunsuria’s Monet Garden and Monet Springtime projects, bolstered by the completion of Sunsuria’s  Monet Springtime project, as well as contribution from ongoing projects such as 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.  

Meanwhile, net profit for Q1 was at RM7.60 million, compared to the  RM7.79 million recorded in the previous quarter. 

The difference in net profit QoQ was due to the sale of Sunsuria’s industrial lot in the Mak Mandin Industrial Estate in Penang in Q4 FY2021. 

“In light of the pandemic and the economic challenges that ensues both domestically and internationally, the Group is cautiously optimistic,  moving forward. The Group anticipates a gradual recovery in domestic economic growth in 2022 – driven by the relaxation of movement restrictions, sustained policy support and growing export demand. It is our hope that the government’s fiscal stimulus measures will assist the  Malaysian construction and property sectors to gain a stronger foothold this year,” said Sunsuria’s Executive Chairman Tan Sri Datuk Ter Leong  Yap. 

“We are proud of our Sunsurians who have demonstrated grit and adaptability in a challenging 2021 – evidenced by our encouraging YoY performance thus far. The Group will continue the path of resilience and prudence in the new normal, sourcing for new potential land bank with good commercial value, and new opportunities to diversify within the property development industry,” said Ter.  

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, 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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