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PETALING JAYA (Aug 19): Maxim Global Bhd’s net profit attributable to shareholders fell 50.4% to RM4 million for the second quarter ended June 30, 2026 (2QFY2026), from RM8.06 million a year earlier, as earnings from Residensi Maxim Risen declined as the project neared completion, while its investment-holding segment recorded higher losses related to the recently concluded unconditional mandatory takeover offer.
In a Bursa Malaysia announcement on Wednesday (Aug 19), the property developer said quarterly revenue nevertheless rose 2.2% to RM98.8 million from RM96.64 million, supported by higher contributions from Residensi Max II in Setapak and Residensi The Atas in Taman Desa, as well as contributions from Residensi Maxim Pelangi in Johor Bahru and the newly launched Residensi Maxim D’Parc in Alam Damai, Cheras.
The group also recognised RM5.3 million in maiden construction revenue from the decommissioning and upgrading of several sewerage treatment plants within the Alam Damai Catchment Area in Kuala Lumpur.
Profit before tax fell 44.4% to RM9.3 million from RM16.74 million, while earnings per share declined to 0.54 sen from 1.10 sen.
Despite the higher revenue, profit before interest and tax fell 26.2% to RM12.49 million from RM16.93 million, mainly due to a RM7.5 million decline in operating profit contribution from Residensi Maxim Risen.
Revenue recognised from the Cheras project fell to RM14.4 million from RM47.3 million a year earlier as it approached completion. The group also recorded no contribution from Residensi Max, compared with RM9.4 million in 2QFY2025, following the project's completion and handover in September 2025.
Its investment-holding segment also recorded higher losses arising from costs incurred in connection with the recently concluded unconditional mandatory takeover offer.
For the first half of FY2026, net profit attributable to shareholders fell 51.9% to RM8.51 million from RM17.69 million, while revenue declined 11.8% to RM183.25 million from RM207.83 million. Profit before tax dropped 46.4% to RM20.65 million from RM38.56 million.
The group said its five ongoing property developments had combined unbilled sales of about RM708.9 million as at end-June. Residensi Maxim Pelangi accounted for RM337.51 million, followed by Residensi The Atas at RM226.23 million and Residensi Maxim D’Parc at RM79.11 million.
Residensi Maxim Pelangi, a Johor Bahru mixed development with a gross development value (GDV) of about RM1.86 billion, was 11.6% complete as at end-June, while the RM588 million Residensi The Atas was 47.3% complete.
The RM519 million Residensi Maxim D’Parc, a 1,116-unit service apartment development, was 7.1% complete following its launch in February.
Meanwhile, fully sold Residensi Maxim Risen was 94.3% complete, with vacant possession envisaged in the second half of FY2026. Fully sold Residensi Max II was 80.1% complete, with vacant possession envisaged in the first quarter of FY2027.
Looking ahead, Maxim Global said its five ongoing developments are expected to continue contributing to revenue and profitability in FY2026, subject to construction progress, sales performance and prevailing market conditions.
The group is also working towards launching another residential development in the Klang Valley this financial year and continues to pursue strategic landbank acquisitions to strengthen its development pipeline.
No dividend was declared or proposed for the quarter.
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