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PETALING JAYA (May 1): Construction and property group Pesona Metro Holdings Bhd has delivered its strongest financial performance in recent years, with group revenue surging 38% to RM705.9 million in the financial year ended December 31, 2025 (FY2025), propelled by a first full-year contribution from its newly acquired property development arm and steady billings across its construction order book.
According to Pesona Metro's 2025 Annual Report filed with Bursa Malaysia yesterday, gross profit more than doubled to RM112.5 million from RM53.6 million in FY2024, while profit before tax surged 162% to RM66.0 million from RM25.2 million, reflecting stronger project margins, improved execution discipline and a growing property earnings contribution.
Profit after tax rose to RM54.5 million from RM22.3 million, with earnings per share climbing to 5.64 sen from 2.90 sen. Total equity attributable to shareholders grew 24% to RM207.5 million.
The board declared an interim dividend of 1.4 sen per share — up from 0.75 sen a year earlier — representing approximately 25% of profit attributable to shareholders.
Construction: RM2.3b order book
The Construction Division, led by wholly-owned Pesona Metro Sdn Bhd (PMSB), remained the group's primary revenue contributor at approximately 69% of total group revenue. Division revenue grew marginally to RM483.1 million from RM477.4 million, while division profit before tax rose 26% to RM21.3 million, reflecting stronger margins and more efficient project execution.
The standout FY2025 contract was a RM666 million award for main building works at a commercial development in Bandar Sri Damansara, Selangor — a 30-month job scheduled for completion by March 2028.
The division's outstanding order book stood at approximately RM2.3 billion across eight ongoing projects at year-end, with total unsatisfied performance obligations of RM3.15 billion per the financial statements.
PMSB is targeting RM500 million in new contract wins for FY2026, with a focus on both public and private sector opportunities and potential expansion into affordable residential projects in the Klang Valley, according to The Edge Malaysia.
Property development: Gaya Kuasa delivers breakout year
The Property Development Division, anchored by the group's 51% stake in Gaya Kuasa Sdn Bhd — acquired in October 2024 for RM40.8 million — delivered a breakout performance in its first full year of consolidation.
Division revenue surged to RM194.0 million from just RM8.5 million in FY2024, while division profit before tax rose to RM43.3 million from RM1.3 million, making it the second-largest group earnings contributor.
Flagship project REN Residensi recorded an 80% take-up rate at year-end, with 793 units signed at a combined GDV of RM559.6 million.
Construction reached 42.9% completion against a total GDV of approximately RM810 million. Completed project Residensi Aman Bukit Jalil — two 42-storey towers totalling 1,260 units — was fully sold.
The group said it remains open to acquiring the remaining 49% of Gaya Kuasa and is evaluating additional landbank opportunities to broaden its development pipeline.
Concessionaire: Recurring anchor, expansion in sight
Through its 70%-owned SEP Resources (M) Sdn Bhd, the group manages student accommodation at Universiti Malaysia Perlis under a concession running until 2036.
Division revenue rose 11.1% to RM28.9 million, generating stable monthly income of RM2.3 million. PBT held steady at RM11.8 million. The group is advancing plans to expand capacity from 4,000 to 6,000 students, which could meaningfully strengthen recurring income over the medium term.
Meanwhile, Malaysia's GDP expanded 5.2% in 2025, supported by resilient domestic demand and a July 2025 OPR cut to 2.75%.
Property market momentum held, with total transactions rising to 416,413 and transaction value up 4.1% to RM241.87 billion.
Bank Negara projects 4.0%–5.0% GDP growth for FY2026 with contained inflation.
The group has approved capital commitments of RM15.0 million for plant and equipment, while a second Sukuk Wakalah tranche of RM15.0 million is due in September 2026 at a profit rate of 4.55% per annum.
Pesona Metro described itself as "cautiously optimistic" on the construction and property outlook for FY2026.
Its 15th AGM is scheduled for June 25 at The Vertical, Bangsar South.
Editor's note: This article is for informational purposes only and does not constitute financial or investment advice.
Sources: Pesona Metro Holdings Bhd Annual Report 2025 and Corporate Governance Report 2025 filed with Bursa Malaysia on April 30, 2026; The Edge Malaysia, April 30.
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