KUALA LUMPUR: Meta Bright Group Bhd (MBG) is on track for a positive year after reporting a commendable first-quarter (Q1) performance.
The group, with operations spanning hospitality, investment property, property development, energy, leasing and financing and concrete business sectors, achieved a profit after tax and minority interests (Patami) of RM4.3 million in Q1 ended September 30, 2024 (FY25), exceeding 36% of its full-year Patami in FY24.
Revenue for the quarter surged to RM58.69 million, an increase of 463% or RM48.26 million compared to RM10.43 million in the same quarter last year.
This growth underscores the success of strategic initiatives implemented over the past two years, including business diversification and mergers and acquisitions (M&A), which have broadened MBG’s operational footprint and strengthened its revenue base.
The group’s diversified portfolio of businesses demonstrated robust performance across multiple segments.
The building materials segment contributed RM47.93 million in revenue, reflecting the encouraging economic development in East Malaysia.
Meanwhile, the leasing and financing division recorded RM2.49 million, driven by higher rental income from Australian operations.
The hospitality segment, anchored by the Renai Hotel in Kelantan, generated RM6.66 million, bolstered by increased demand for its convention centre and accommodations.
While the property development segment recorded RM0.13 million in revenue and did not experience prior-year disposal gains.
The group remains focused on identifying new opportunities to revitalise this segment.
The energy-related segment and investment properties division also recorded steady growth, contributing RM0.45 million and RM1.04 million, respectively.
The group’s operational efficiency was evident in its net cash flows generated from operating activities, which stood at RM5.5 million for the quarter.
This marks a significant turnaround compared to the negative RM6.3 million recorded in the same quarter last year.
MBG executive director of corporate and strategic planning Derek Phang Kiew Lim said the company’s diversified business model has once again proven its resilience and ability to generate strong returns.
“Through business diversification, targeted acquisitions, and operational optimisation, we have built a resilient and scalable business model capable of delivering sustainable growth.
“This is just the beginning of an exciting journey for MBG. We are well-positioned to capitalise on the growth opportunities in East Malaysia’s infrastructure development and the region’s energy transition initiatives.
“Our strategic focus and strong financial foundation will enable us to achieve new heights in the years to come,“ Phnag said.
Looking ahead, MBG remains optimistic about its prospects for FY25.
The group plans to enhance the competitiveness of its hospitality segment by upgrading the Renai Hotel’s facilities to meet evolving market demands.
In addition, it continues to focus on expanding its presence in the building materials and renewable energy sectors, both of which are poised to benefit from favourable market conditions.
