PETALING JAYA: I-Berhad (I-Bhd), the master developer of i-City, Shah Alam, posted revenue of RM117.01 million for the fourth quarter ended Dec 31, 2025 (Q4 FY25), a 82.55% increase from RM64.10 million recorded in the corresponding quarter last year, reflecting improved execution momentum across its core segments.

For Q4 FY25, the group’s property development segment emerged as the primary growth engine, generating RM75.2 million in revenue, up from RM42.1 million in the preceding quarter.

The increase was driven by accelerated construction progress and higher progressive billings from ongoing developments within i-City, reflecting improved project execution and operational efficiency.

According to a Bursa Malaysia filing, I-Bhd’s net profit increased 60.97% to RM10.83 million in Q4 FY25, compared to RM6.72 million in the same quarter last year.

Profit before tax (PBT) stood at RM77.1 million in FY25, a 80% year-on-year increase from RM42.8 million in FY24.

The strong year-on-year improvement underscores the group’s strengthened execution capabilities and earnings momentum.

Notably, the performance was achieved despite a measured operational strategy during the year, demonstrating the group’s ability to generate substantial revenue and profitability from its existing developments and recurring income base.

Segmental PBT stood at RM13.1 million for the quarter, compared to RM16.1 million in Q3 FY25, where the comparative quarter was boosted by the write-back of earlier project-related provisions no longer required following the completion of contractual deliverables.

The property investment segment delivered stable revenue of RM6.9 million, underpinned by consistent rental contributions from Mercu Maybank, the group’s data centre and car park assets in i-City, and associate income from Central i-City Mall.

Segmental PBT stood at RM3.7 million, maintaining a solid recurring income base that continues to provide earnings stability.

The leisure and hospitality segment continued its steady upward trajectory, recording revenue of RM33.8 million, up 6% quarter-on-quarter.

Segmental PBT improved to RM7 million, supported by sustained visitor footfall and stable operating performance across i-City’s attractions, reinforcing the segment’s role in supporting the group’s overall earnings resilience.
For FY25, I-Bhd achieved revenue of RM322.6 million and PBT of RM77.1 million, reflecting the effectiveness of its diversified earnings model.

Property development contributed RM172.3 million in revenue and RM39.5 million in PBT, demonstrating the group’s ability to efficiently monetise its existing pipeline.
Property investment delivered revenue of RM26.8 million and PBT of RM19.1 million, underscoring the group’s growing recurring income contribution.

The leisure and hospitality segment recorded revenue of RM120.6 million and PBT of RM20.9 million, providing stable cash flow support and enhancing earnings sustainability.

“This strong close to FY25 reflects the resilience of I-Bhd’s multi-engine business model and the disciplined execution of our development and investment strategies,” I-Bhd chairman Tan Sri Lim Kim Hong said in a statement.

“The pickup in property development billings in the fourth quarter, coupled with stable recurring income from our investment assets and leisure operations, has enabled the group to deliver another solid quarter of profitability.”

Lim said the group’s remaining gross development value of about RM5 billion within i-City provides a strong foundation for future growth, with upcoming launches expected to further enhance revenue contribution and earnings momentum.

“The results validate the strength of our existing developments and operating platform.

“With new launches in the pipeline, we are confident that the group is well-positioned to deliver continued growth and unlock further value in the coming financial years.

“As we move into the next phase of i-City’s evolution, our focus remains on strengthening recurring income, enhancing asset productivity, and future-proofing the township through technology with artificial intelligence and robotics as key enablers,” Lim said.

“Through AI World, Malaysia’s first AI-enabled urban precinct, we are progressively integrating digital infrastructure, smart systems and data-driven management across the i-City ecosystem to improve operational efficiency, uplift service standards and enhance the performance of our assets.

“Importantly, these initiatives are anchored on commercial outcomes, not technology for its own sake. They are part of our long-term strategy to strengthen recurring income streams, raise asset productivity and differentiate i-City as Malaysia’s benchmark for AI-enabled urban living,” he added.

Lim said that by developing AI Living at i-City, the world’s first AI and robotics residential tower as a real-world testbed and commercialisation platform for humanoid robotics, the group is accelerating the integration of embodied intelligence into everyday residential life.

Slated for completion in 2030, the 500-unit tower is engineered for a future in which humans and robots with embodied intelligence coexist in a single, fluid environment.
Looking ahead, the group remains cautiously optimistic about its prospects, supported by Malaysia’s stable economic outlook, ongoing urbanisation, and continued demand for integrated, technology-enabled townships.

With a proven execution track record and a substantial development pipeline, I-Bhd is positioned to achieve further revenue growth and long-term value creation for its stakeholders.

 The Sun Malaysia