MUI Properties Bhd ended FY26 with sharply higher full-year profitability, posting profit after tax (PAT) of RM169 million compared to RM19.5 million a year earlier, even as the group slipped into a RM24 million loss after tax (LAT) in the fourth quarter (4Q26).
Full-year revenue surged 195% to RM502.1 million from RM170.2 million, mainly driven by the disposal of four contiguous parcels of freehold land to Gamuda DC Infrastructure Sdn Bhd in Bandar Springhill, Negeri Sembilan.
The financial performance for 4Q26, however, painted a contrasting picture as revenue fell 42.3% to RM29 million from RM50.3 million a year earlier, largely due to the near completion of most industrial projects.
MUI Properties recorded a RM24 million quarterly LAT, reversing a RM9.5 million PAT in Q4 FY2025. The loss was mainly attributed to a RM12.9 million impairment on investment property, a fair value loss on other investments and lower revenue.
Looking ahead to FY27, subsidiary West Synergy Sdn Bhd has fully recognised revenue from its key land transactions with Antmed Malaysia Sdn Bhd and Gamuda DC Infrastructure.
The group said Antmed’s second land acquisition in July 2026 further reinforces confidence in Bandar Springhill’s strategic value and supports the longer-term development of the Springhill Industrial Park ecosystem.
MUI Properties expects these transactions to help accelerate Bandar Springhill’s transformation into a high-technology and industrial hub while enhancing the long-term value of its remaining landbank, although it remains cautious amid geopolitical uncertainty, market volatility and cost fluctuations.
