Sunsuria Q2 revenue gains 18% YOY to RM74.11 Million

KUALA LUMPUR: Sunsuria Berhad (“Sunsuria”) announced today its revenue and net profit of RM74.11 million and RM2.72 million for the current quarter under review.  

For the second quarter ended 31st March 2022 (“Q2”), Sunsuria recorded a revenue of RM74.11 million, up 18% year-on-year (“YoY”) from the  RM62.95 million recorded in the corresponding quarter a year earlier (“Q2 FY2021”).  

Sunsuria’s revenue year-to-date (YTD) was higher YoY at RM179.84  million compared to RM110.89 million achieved in the corresponding period last year.  

The higher YTD revenue was attributed to the completion of Monet  Springtime, sales of Monet Garden, as well as work progress of Verdura  Tower D and Tower E of Bangsar Hill Park at Lorong Maarof in Bangsar.  

Ongoing projects such as Tangerine Suites at Sunsuria City and Sunsuria  Forum (Phase 2) at 7th Avenue at Setia Alam also contributed to Q2  revenue. 

Meanwhile, Sunsuria had a net profit of RM2.72 million in Q2 as opposed to RM5.12 million recorded in Q2 FY2021. 

The difference in net profit was due to higher sales and marketing expenses and increase in general overheads during the same period.  

Sunsuria had a Q2 revenue of RM74.11 million compared to the  RM106.03 million in the preceding quarter.  

The difference in revenue quarter-on-quarter was due to the completion of Monet Springtime in Sunsuria City and higher sales of Monet Garden in Q1 FY2022.  

In the previous quarter, Sunsuria achieved a net profit of RM7.6 million. 

“Malaysia’s transition towards the reopening of international borders is encouraging as we look forward to the gradual recovery in domestic economic growth this year. However, in light of global supply chain disruptions and rising input costs, we continue to be vigilant, and will actively pursue measures to mitigate the impact of such challenges,” said  Sunsuria’s Executive Chairman Tan Sri Datuk Ter Leong Yap. 

“With the Group’s recent addition of land in Ijok and Banting to our existing land bank, we are ready to capitalise on new opportunities for future developments and diversification within the property development industry,” said Ter.  

In April, Sunsuria, through its wholly owned subsidiary, Sunsuria  Residence Sdn Bhd, entered into a sale and purchase agreement (SPA)  with Superjet Revenue Sdn Bhd to acquire the 60.81 acres parcel of land in Ijok, Selangor for RM74.17 million.  

In January, Sunsuria, through its newly incorporated 70% owned subsidiary, Concept Innocity Sdn Bhd, acquired two parcels of land in Banting, Selangor, spanning a total of 123.03 acres for RM53.59 million.

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 freehold integrated township is designed with the guiding principles of  Smart, Livable and Sustainable. Sunsuria City is set to become the new international educational hub with Xiamen University Malaysia, the first overseas university campus from China, as well as the new British  International School – in collaboration with Concord College International  Ltd and Concord College UK – which opens its doors in September 2024. 

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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