Image from: Sunsuria Berhad

Sunsuria Berhad (“Sunsuria”) has on the 25th of February announced a revenue of RM47.5 million and a net profit of RM9.14 million for the current quarter under review and the three months ended 31st December 2019.

The above is in comparison to the revenue of RM104.8 million and a net profit of RM19.72 million that was recorded in the previous quarter. Of the Group’s properties that contributed heavily to Q1’s revenue were Bell Suites SOHO & Retail, Monet Springtime, and Monet Garden.

Their year-to-date revenue and net profit stands at RM47.5 million and RM9.14 million, as compared to their revenue of RM82.95 million and net profit of RM10.67 million in the corresponding quarter of the previous year.

The difference in the year-on-year Q1 profit and revenue comes from the completion of The Olive and Monet Lily project in the final quarter of the previous financial year, which contributed a total of RM45.55 million in revenue to the Group in the corresponding quarter of the previous year.

The total revenue contributed by the two projects totalled RM58.22 million in Q4 FY2019, resulting in the difference of RM57.31 million in revenue and RM10.59 million in net profit in the current reporting quarter.

Facade of Monet Garden. Image from: Sunsuria Berhad

Sunsuria’s current ongoing developments include their Sunsuria City projects of Bell Suites SOHO & Retail, Monet Springtime, Monet Garden, Giverny Walk and Tangerine Suites, while in Setia Alam there is the Forum 2 SOHO, Offices and Serviced Apartments.

In a statement from the Group, Sunsuria’s Executive Chairman Tan Sri Datuk Ter Leong Yap stated, “Given the recent Covid-19 outbreak, we foresee a challenging outlook for 2020 but remain committed to continue delivering excellence in value-added products and customer service in the months ahead.

“By consistently ensuring that our Sunsuria team is aligned with our core values of integrity, quality and reliability, we are confident that prioritising our customers’ needs will put the business in good stead irregardless of market sentiment.” 

(26 February 2020)