PETALING JAYA: Integrated industrial space solutions provider AME Elite Consortium Bhd achieved strong sales of RM359.1 million in the first half ended Sept 30, 2024 (H1’25), up 166.8% from RM134.6 million in the previous corresponding period last year, driven by robust demand for industrial properties at the group’s i-TechValley at SILC industrial park.
i-TechValley at SILC continues to attract major investments from both domestic and international companies, drawn by its strategic location and green design elements. AME Elite’s all-in-one solutions, including design, construction, and property management, make the park more attractive to businesses expanding in Malaysia.
With the strong sales momentum, AME Elite raises its sales target for the financial year ending March 31, 2025 (FY25) to RM550 million, up from its previous target of RM400 million, reflecting its confidence in the growth of the industrial property sector. The optimistic outlook is supported by increasing investment inflows, a robust project pipeline, and Malaysia’s emergence as a key player in the global supply chain and attractive investment destination in Southeast Asia.
Executive director and group CEO Dylan Tan Teck Eng said: “We are seeing accelerated momentum in FY25 driven by robust demand for our industrial space solutions. Our strong track record demonstrates Malaysia’s attractiveness as a prime destination for businesses seeking strategically located industrial facilities. Our integrated solutions encompassing design, construction, and property management continue to attract leading domestic and international companies to our developments. We are well-poised for sustainable growth. Our expansion into Penang with Northern TechValley @ BKE, along with future projects in Selangor and the JS-SEZ, further strengthen our leadership in providing industrial space solutions.”
In addition to its strong sales performance, AME Elite is expanding its industrial park footprint across Malaysia. The group recently launched its latest development of 175.6-acre Northern TechValley @ BKE in Penang with a GDV of RM1.3 billion. Construction of infrastructure works for the park commenced in August 2024, supported by strong interest from businesses seeking prime industrial space in Penang.
AME Elite also has plans to develop industrial parks in Ijok, Selangor, a strategic location within the Greater Klang Valley, after entering a shareholders’ agreement with KLK Land Sdn Bhd in October 2024 to jointly develop a 151.2-acre industrial park.
Additionally, the group entered into an MoU with SD Guthrie Bhd to jointly develop a green industrial park in the Johor-Singapore Special Economic Zone (JS-SEZ).
In its results for the second quarter ended Sept 30, 2024 (Q2’25), AME Elite reported increased net profit of RM22.4 million compared to RM21.8 million in the previous year. Revenue amounted to RM187.2 million compared to RM233.3 million, with the shift attributed to the timing of revenue recognition on property development projects, as some projects were in earlier stages of completion. The lower property development contribution was partially offset by revenue growth in the construction, engineering services, as well as property investment and management segments.
The property development segment contributed revenue of RM73.4 million in Q2’25 versus RM138.8 million, mainly due to the lower stages of work completed and the timing of income recognition compared to the previous corresponding quarter.
Meanwhile the construction segment recorded an 18.7% increase to RM63.2 million in Q2’25 from RM53.3 million. Similarly, the engineering services segment achieved a 27.3% revenue growth to RM32.1 million from RM25.2 million. These increases were primarily attributed to the progression in the stage of completion of the on-going construction and engineering projects.
Furthermore, the property investment and management services segment delivered 4.4% revenue growth to RM18.4 million from RM16.1 million, driven by additional units of factory leased by tenants and higher rental income generated from workers’ dormitories.
In line with the positive results, AME Elite declared an interim dividend of 3 sen per share amounting to a payout of RM19.2 million in respect of FY25, with ex-date on Dec 12, 2024 and payable on Dec 30, 2024.
To date, AME Elite has launched five industrial parks in Johor and one in Penang, including notable developments such as the 205.2-acre i-Park @ Indahpura, the 195.0-acre i-Park @ Senai Airport City, the 169.8-acre i-TechValley at SILC and the latest 175.6-acre Northern TechValley @ BKE. These projects have garnered substantial investments from multinational and local corporations across various sectors including precision engineering, pharmaceutical manufacturing, logistics, warehouse and storage, electrical and electronics manufacturing, research and development, and assembly operation.
