SkyWorld Development Doubles Net Profit as Strong Sales Drive Growth

SkyWorld Development Bhd recorded a sharp improvement in financial performance for the latest quarter, posting revenue of RM86.7 million, a 16.2% increase quarter-on-quarter from RM74.6 million previously. The stronger topline supported a significant jump in profitability, with profit before tax rising 71.1% to RM9.6 million, while profit after tax surged twofold to RM7.9 million.

According to the group, the improved results were primarily fuelled by higher progressive billings from Vesta Residences and newly recognised revenue from SkyAman 1 Residences, its latest residential launch in Cheras, Kuala Lumpur.

Unbilled Sales Climb to RM589 Million

SkyWorld’s sales momentum remained strong during the period, lifting its unbilled sales to RM589 million as at Sept 30, 2025, up 21.9% from RM483.1 million at the end of June. The developer noted that this reflects healthy market demand and the group's ability to quickly convert buyer interest into secured sales.

Combined revenue for the first six months of the financial year totalled RM161.3 million, while cumulative PBT and PAT came in at RM15.2 million and RM10.8 million, respectively.

First Interim Dividend Proposed

In line with the stronger financial outlook, SkyWorld’s Board has proposed a first interim dividend of 0.22 sen per share, amounting to RM2.2 million, for the financial year ending March 31, 2026. The dividend is scheduled for payout on Jan 15, 2026.

CEO: Market Favouring Developers Focused on Execution and Affordability

SkyWorld CEO Lee Chee Seng said that developers with a disciplined approach to delivery, pricing, and financial management are outperforming in today’s environment.

“Despite inflationary pressures and cautious market sentiment, demand for well-planned urban homes remains resilient. Buyers today want accessibility, practical layouts, and strong liveability features — all of which we prioritise,” he said.

He added that the launch of SkyAman 1 Residences showed strong alignment between the group’s product offerings and evolving buyer expectations.

Strategic Expansion Into Penang

Looking ahead, Lee highlighted the group’s entry into Penang via SkyAwani Pearlmont Residences, marking a significant milestone in SkyWorld’s regional expansion.

The Penang market continues to demonstrate solid fundamental demand, similar to high-performing urban corridors in the Klang Valley — areas where investors also actively seek opportunities such as industrial land in Selangor, office space in Bukit Jalil, factory assets in Puchong, and transit-linked commercial property in KL, as well as industrial property in the Subang area.

SkyWorld said its Penang expansion aligns with its sustainable growth strategy and diversifies its development footprint beyond the central region.

Strengthened Balance Sheet

As at Sept 30, 2025, SkyWorld maintained a robust financial position with:

• RM320.9 million in cash and bank balances

• A low net gearing ratio of 0.2 times, giving the group ample capacity for future land acquisitions and project launches

This financial strength positions SkyWorld well to continue expanding its portfolio of urban-focused developments across Malaysia.