NCT Alliance Berhad posted a net profit of RM43.2 million for the full financial year ended 31 December 2022, an increase of 28% from RM33.7 million in the previous financial year. Revenue for the year under review also improved by 15% to RM241.4 million, from RM209.9 million last year.
For its fourth quarter ended 31 December 2022, the Group recorded a net profit of RM12.8 million on the back of RM66.9 million revenue
Dato’ Sri Yap Ngan Choy, Executive Chairman and Group Managing Director of NCT Alliance said, “The encouraging full-year results were driven by the robust performance of our flagship development, the Grand Ion Majestic (GIM), and our high-rise project, Acacia Residences. The property sector in Malaysia is thriving as we move beyond the challenging economic environment from the previous year. Our projects, particularly GIM’s strategic location in Genting Highlands, bode well for the Group as the ease of travel restrictions resulted in higher footfall. Additionally, the sales of completed stocks in our Vortex and Mahkota Kampar projects were also a significant growth driver for the year.”
