Hartanah Kenyalang Berhad (“Hartanah Kenyalang” or the “Company”; Stock Code: 0359), a Sarawak-based building and infrastructure construction group, announced a marked improvement in its third quarter ended 31 July 2026 (“Q3 FY2026”) results. Revenue rose 93.4% to RM49.5 million, while profit before tax (“PBT”) reached RM4.2 million, compared with loss before tax of RM1.7 million in the third quarter ended 31 July 2025 (“Q3 FY2025”).
Profit after tax for Q3 FY2026 was RM3.0 million, compared to the RM1.7 million loss after tax recorded in Q3 FY2025. Gross profit increased to RM7.1 million from RM2.4 million, lifting the gross profit margin to 14.3% from 9.4%. The stronger result was mainly driven by higher revenue generated from the Stadium Sarawak Project, partly offset by higher staff costs, and legal and professional fees.
Building construction services remained the principal revenue contributor, generating RM41.8 million or 84% of the quarterly revenue, compared with RM14.7 million a year earlier. Infrastructure construction services contributed the remaining RM7.7 million or 16% of the quarterly revenue.
For the nine months ended 31 July 2026, revenue increased 17.3% YoY to RM117.8 million, while PBT rose 174.4% to RM7.8 million from RM2.8 million. Profit attributable to owners climbed to RM5.7 million from RM1.5 million, with basic earnings per share improving to 0.90 sen from 0.25 sen.
On a quarter-on-quarter basis, revenue increased 11.5% from RM44.4 million in second quarter ended 31 July 2026, while PBT increased 53.9% from RM2.7 million. The improvement reflects higher revenue recognised from the building construction segment as construction works progressed at the Stadium Sarawak Project.
Mr Seah Boon Tiat, Managing Director of Hartanah Kenyalang Berhad said, “The third-quarter performance reflects higher level of activity across our building construction projects, particularly the Stadium Sarawak Project. Revenue nearly doubled from a year ago, gross margin improved and quarterly profitability strengthened. Our focus remains on project execution and cost control as we progressively recognise our enlarged order book.”
He added, “Following the RM283.9 million Wisma JKR Sarawak Project and the subsequent RM41.4 million Sarawak multi-storey buildings contract secured in July 2026, our outstanding order book increased to approximately RM851.0 million, the highest level in our operating history. Together with our first design-and-build project in Sibu and our very first project in West Malaysia, Hartanah Kenyalang now has a broader base to pursue its next phase of growth.”
Hartanah Kenyalang also ended the quarter with a stronger capital position following the completion of a private placement in May 2026, which raised gross proceeds of RM17.05 million. As at 31 July 2026, cash and bank balances together with fixed deposits stood at RM51.9 million, compared to 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 intends to intensify its building and infrastructure construction activities in Sarawak, pursue more design-and-build opportunities, expand into utilities construction services and grow its presence in West Malaysia. Barring unforeseen circumstances, the board of directors of the Company remain optimistic about the Company’s prospects.
