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PETALING JAYA (May 29): Selangor Dredging Bhd (SDB) maintained a single-tier dividend of 3.0 sen per share and strengthened its cash position, even as earnings were weighed down by the completion of key projects and slower profit recognition from newer launches.
The board has proposed a 3.0 sen dividend for the financial year ended March 31, 2026 (FY2026), it said in its Bursa filing, which matches the payout for FY2025 though this is subject to shareholders’ approval at the forthcoming annual general meeting.
As at March 31, 2026, the group’s cash and cash equivalents rose to RM132.42 million, up from RM62.90 million a year earlier, while it carried RM184.12 million in unbilled sales from ongoing projects.
SDB, however, swung into the red for FY2026, posting a net loss of RM41.22 million versus a net profit of RM21.92 million in the previous year, as revenue declined to RM174.48 million from RM375.95 million. Loss per share attributable to ordinary shareholders was 15.66 sen, compared with earnings per share of 8.33 sen in FY2025.
For the fourth quarter ended March 31, 2026 (4QFY2026), the group recorded a net loss of RM8.03 million, against a net profit of RM395,000 a year earlier, as quarterly revenue fell to RM26.41 million from RM52.14 million.
SDB said the weaker performance was mainly due to the completion of the Jia project in Bukit Serdang and the 19Trees project in Melawati, which resulted in lower profit contributions during the year, while newly launched projects remained at an early stage of development and contributed limited revenue and profit recognition.
Total bank borrowings stood at RM385.32 million as at March 31, 2026. Net assets per share attributable to ordinary equity holders of the parent was 189.57 sen at end-FY2026, compared with 205.62 sen a year earlier.
Separately, SDB announced a revaluation exercise on several hotel, office and commercial assets, including Hotel Maya Kuala Lumpur, Plaza 138 office suites, The Hub SS2 commercial units, SqWhere office and commercial properties, Sunshine Villa in Port Dickson and a commercial complex in Batu Ferringhi, Penang.
The exercise resulted in a RM4.24 million increase in net assets, with Hotel Maya Kuala Lumpur assigned a market value of RM199 million and a revaluation surplus of RM4.76 million.
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