Rivertree STF Synergies Bhd (RSSB) returned to full-year profitability in the financial year ended June 30, 2026 (FY26), posting a net profit of RM4.3 million on revenue of RM24.3 million, marking its first profitable year after eight consecutive years of losses.
Of the full-year revenue, RM2.2 million came from discontinued operations. Comparative figures were unavailable following the group’s change in financial year-end from Dec 31, 2024, to June 30, 2025.
For the fourth quarter ended June 30, 2026, revenue rose 23.9% quarter-on-quarter to RM10.2 million from RM8.2 million, while net profit jumped 25.4% to RM2 million from RM1.6 million in the preceding quarter.
RSSB ended FY26 with a healthy net cash position of RM7.7 million.
Executive Director Datuk Simon David Leong said the turnaround reflected progress in rebuilding the group’s earnings base, adding that RSSB would enter FY27 with confidence as it advances its property development and construction services businesses.
The group recently secured a RM168.1 million turnkey construction contract for the 9,000-bed Q Centre @ Teratai centralised labour quarters (CLQ) project in Meru, Klang, while pursuing three additional CLQ construction projects in prime industrial areas across the Klang Valley.
Separately, shareholders approved proposed acquisitions of Rivertree Landmark Sdn Bhd and Rivertree Signatures Sdn Bhd for a combined RM46.3 million, which will add two planned Kuala Lumpur serviced apartment projects with an estimated combined gross development value of RM654.8 million.
Shareholders also approved the RM13 million disposal of Irama Setia Sdn Bhd, with the proceeds earmarked for working capital and property development projects.
