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KUALA LUMPUR (May 18): Property developer Gold Li Holdings Bhd (KL:GOLDLI) said it is targeting revenue growth of about 10% for its financial year 2026, citing stable demand from its core markets in Muar, Tangkak and Batu Pahat in Johor.
Speaking to reporters virtually, chief financial officer Tey Bock Heng (pictured) said the group is aiming to reach about RM70 million in revenue for the current financial year.
The 10% revenue growth target draws from its existing landed residential pipeline and does not yet factor in its first high-rise project.
He said that the group remains cautiously optimistic on its business outlook for the next six- to 12 months, as the group sees potential upside and demand from infrastructure projects in the Muar area, including the Maharani Energy Gateway development.
Gold Li also expects strong buyer interest for its upcoming high-rise development in Muar for 2027, consisting of a 500-unit residential project that has a gross development value (GDV) of RM400 million.
The company currently has 13 ongoing projects and 28 planned developments with a combined GDV of about RM854.9 million. It has about 47.3 acres of landbank across Johor.
For the financial year ended Jan 31, 2025 (FY2025), Gold Li posted a net profit of RM7.84 million on revenue of RM65.03 million.
Tey said most of its buyers are local Malaysians, not foreigners. Its projects in areas like Muar, Tangkak and Batu Pahat mainly target local homebuyers and investors, unlike Johor Bahru which attracts more foreign buyers.
On supply chain risks, he pointed to the group’s vertically integrated business model as a structural buffer against the current backdrop of economic volatility. He said the group operates its own in-house construction team, which management said allows it to push for greater control over build costs and delivery timelines.
“We position ourselves in a good position to control many factors including the construction cost,” said Tey during the virtual press conference.
On Monday morning, Gold Li’s shares opened at 12 sen on the ACE Market of Bursa Malaysia, which was one sen below its initial public offering (IPO) price of 13 sen, which Tey said attributed to broader market conditions such as the current war in the Middle East rather than the company’s fundamentals.
“While the share price may be affected in the near term for the broader market conditions and external uncertainties, given this particular timing, we believe this is a temporary factor,” said Tey.
Of the RM15.21 million raised from the IPO, more than 70% of the IPO proceeds were earmarked to partly fund three ongoing projects and one planned development, while RM11.21 million has been earmarked for working capital to supplement property development costs, with the remaining RM4 million allocated to listing expenses.
As at 11.45am, Gold Li was trading 15.38% lower at 11 sen, valuing the company at RM66 million.
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