KUALA LUMPUR: Chin Hin Group Property Bhd reported a positive financial performance for its first quarter (Q1) ended March 31, 2025 (FY25), achieving substantial growth across key financial metrics.
Revenue rose by 56% to RM209.03 million, compared to RM134.21 million in Q1 FY24, driven primarily by the property development segment.
The group’s profit before tax surged to RM24.48 million, an increase of over 150% from RM9.71 million recorded in the corresponding quarter of the previous year, underpinned by robust revenue growth and enhanced profit margins from ongoing projects.
The property development segment was the standout performer, generating a remarkable revenue increase to RM187.29 million compared to RM25.61 million in Q1 FY24.
This performance was attributed to strong contributions from ongoing projects, including Quaver Residences, Ayanna Resort Residences, Avantro Residences, Crown Penang, Residensi Andalan, Dawn KLCC, and Aricia Residences.
The segment also recorded a turnaround, reporting a profit before tax of RM26.27 million, compared to a loss of RM1.21 million previously, driven by contributions from recently effective joint ventures, Aricia Sdn Bhd and Dawn Sdn Bhd.
Meanwhile, the commercial vehicles and bodywork segment reported a higher revenue of RM21.74 million, nearly doubling from the RM10.94 million recorded in the corresponding quarter of the preceding year.
This growth reflects increased demand for rebuilt commercial vehicles, although higher administrative expenses resulted in a marginal loss before tax of RM0.64 million, compared to a profit of RM0.61 million in Q1 FY24.
Group CEO for the property development division, Chang Tze Yoong, said the group’s performance in the first quarter of 2025 reflects the strength of the company’s strategic focus on high-quality developments and its commitment to operational excellence.
“The strong take-up rates of our property development projects underscore the growing market confidence in our offerings and brand.
“As we move forward, we remain dedicated to delivering value to our stakeholders by launching concept-driven developments and enhancing the customer experience across all touchpoints,” he said in a statement.
The group has streamlined its focus to property development and commercial vehicles following the completion of the disposal of its construction division in November 2024.
The commercial vehicles and bodyworks segment also recorded improved sales of RM21.7 million for the quarter, driven by increased demand for rebuilt commercial vehicles.
Looking forward, Chin Hin Group is well-positioned to capitalise on the positive market momentum, leveraging its strong project portfolio and strategic initiatives to deliver sustainable growth and value to shareholders.
