SkyWorld To Benefit From Earnings Growth With Bukit Jalil Project -- HLIB
KUALA LUMPUR, Oct 12 (Bernama) -- Hong Leong Investment Bank Bhd (HLIB) is positive about Skyworld Development Bhd’s outlook, driven by major earnings inflection point.
The investment bank said affordable housing project Bandar MADANI Bukit Jalil will potentially benefit Skyworld, given its past track record in developing Rumah Bakat MADANI in Penang which features a similar vertical school component.
The project will have an estimated gross development value of RM6-7 billion. It said the expanded stamp duty relief for first-time homebuyers will reduce upfront purchase cost, supporting housing demand.
“We expect sequential revenue growth as projects advance into later construction stages, accelerating billings.
“Revenue for the second quarter 2027 financial year (2Q FY2027) should benefit from higher recognition of completed-unit sales at Curvo Residences (in Setapak),” it said in a research note.
HLIB said following prefabricated and prefinished volumetric construction (PPVC) plant commissioning by end-3Q FY2027, billings should accelerate from 4Q FY2027, as prefabrication shortens construction cycles versus conventional methods.
Meanwhile, a robust FY2027 launch pipeline exceeding RM2 billion and record-high unbilled sales of RM1.13 billion as of 1Q FY2027 underpin earnings visibility.
The report said the group is at a major earnings inflection point, with FY2026 as the cyclical trough. Skyworld is entering a new earnings upcycle with its Penang projects as a fresh growth driver, a replenished launch pipeline, and record unbilled sales, it added.
At 10.30 am, Skyworld’s shares rose two sen to 41 sen, with 282,100 units transacted.
-- BERNAMA