Sunway's 1Q Net Profit Surges To RM9.41 Bln On Remeasurement Of SHH Stake
KUALA LUMPUR, May 26 (Bernama) -- Sunway Bhd’s net profit surged to RM9.41 billion in the first quarter ended March 31, 2026 (1Q FY2026), from RM190.55 million in the same period last year.
The well-diversified group attributed the significantly higher profit mainly to the net gain of RM9.09 billion arising from the remeasurement of investment in Sunway Healthcare Holdings Bhd (SHH) to fair value upon its listing and reclassification as a subsidiary.
“Excluding the SHH net gain, the group's underlying profit before tax would have been RM462.4 million, representing an improvement of about 52.1 per cent against the corresponding quarter of the previous financial year,” it said in a filing with Bursa Malaysia today.
Revenue also increased by eight per cent year-on-year to RM2.55 billion from RM2.36 billion on stronger performance from most segments, Sunway said.
Its property development segment’s revenue more than doubled to RM653.6 million in 1Q FY2026 from RM263.3 million a year earlier, underpinned by the disposal of an education building, higher progress billings from projects in Malaysia and contributions from the newly acquired MCL Group.
Sunway said the property development segment launched projects with a total gross development value of RM2.1 billion and achieved strong sales of RM1.4 billion, driven mainly by robust take-up from the newly launched Singapore project, Pinery Residences.
“This solid start to the year places the segment on track to meet its FY2026 property launch target of RM4.8 billion and property sales target of RM4.2 billion,” it said.
The construction segment posted a profit before tax of RM159.1 million on the back of revenue of RM794.5 million, attributable to the finalisation of accounts for several completed projects.
Meanwhile, the healthcare segment delivered another quarter of strong growth.
It said SHH recorded earnings before interest, taxes, depreciation, and amortisation growth of 19.0 per cent to RM112 million in 1Q FY2026, underpinned by robust revenue growth and improving operational efficiencies from the ramp-up of Sunway Medical Centre Damansara and Sunway Medical Centre Ipoh.
Looking ahead, Sunway Group president Datuk Anuar Taib said the group remains cautiously optimistic of delivering stable earnings in FY2026, supported by its resilient portfolio of businesses, healthy unbilled sales, strong construction order book visibility and disciplined expansion strategy.
-- BERNAMA