Hartanah Kenyalang Bhd returned to the black in the third quarter ended July 31, 2026 (3Q26), posting RM3 million in profit after tax (PAT) compared to a RM1.7 million loss a year earlier, as stronger project activity nearly doubled revenue.
Quarterly revenue jumped 93.4% year-on-year to RM49.5 million from RM25.6 million, driven mainly by higher contributions from the Stadium Sarawak Project.
Building construction services remained the company’s main revenue contributor, generating RM41.8 million, or 84% of quarterly revenue, compared to RM14.7 million a year earlier.
Infrastructure construction services contributed the remaining RM7.7 million, or 16%.
For the first nine months of FY26, revenue increased 17.3% to RM117.8 million, while PAT surged 280% to RM5.7 million from RM1.5 million.
Managing Director Seah Boon Tiat said the stronger quarter reflected higher activity across the group’s building projects, particularly Stadium Sarawak, alongside improved margins and stronger profitability.
Hartanah Kenyalang’s outstanding order book rose to about RM851 million, the highest in its operating history, after securing the RM283.9 million Wisma JKR Sarawak Project and a subsequent RM41.4 million Sarawak multi-storey buildings contract in July.
The company has also secured its first design-and-build project in Sibu and its first project in West Malaysia.
Its balance sheet strengthened following a private placement completed in May, which raised RM17.05 million in gross proceeds.
As at July 31, cash and bank balances including fixed deposits stood at RM51.9 million, up from RM19.9 million at the start of the financial year, while total equity increased to RM68.0 million from RM45.6 million.
Looking ahead, Hartanah Kenyalang plans to expand its building and infrastructure activities in Sarawak, pursue more design-and-build jobs, move into utilities construction services and grow its presence in West Malaysia.
