Sunsuria Ends The Year On A Positive Note With Higher Q4 Revenue Of RM65.5 Million

December 1, 2021

Sunsuria Ends The Year On A Positive Note With Higher Q4 Revenue Of RM65.5 Million

Sunsuria Berhad (“Sunsuria”) announced today its revenue and net profit of RM65.5 million and RM7.79 million for the current quarter under review. 

For the fourth quarter ended 30th September 2021 (“Q4”), Sunsuria’s revenue rose year-on-year (“YoY”) to RM65.5 million compared to the RM61.3 million recorded in the corresponding quarter a year earlier (“Q4 FY2020”). 

Quarter-on-quarter, Q4 revenue was higher at RM65.5 million from RM62.21 million in the preceding quarter. 

Revenue for Q4 was derived from the completion of Sunsuria’s Monet Garden Townhouses and Villa Project and the Giverny Walk project, as well as contribution from the Group’s ongoing property developments – Monet Springtime, Tangerine Suites at Sunsuria City, Sunsuria Forum (Phase 2) @ 7th Avenue at Setia Alam and Block D Verdura at Bangsar Hill Park at Lorong Maarof in Bangsar. 

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Sunsuria capped the financial year ended September 30th 2021 (“FY2021”) with year-to-date revenue increasing by 21% YoY to RM238.6 million from RM197.08 million recorded in the previous year’s corresponding period (“FY2020”).

Meanwhile, net profit for FY2021 was at RM21.81 million as compared to the RM29.1 million recorded in FY2020. 

The lower net profit for the current 12-month period was attributed to operating expenses from the Bangsar Hill Park project. 

Revenue contribution from the Bangsar Hill Park project to the current quarter is marginal as the project is still at the initial stage of development. The Bangsar Hill Park project has an estimated gross development value (“GDV”) of RM3.01 billion.

“We are encouraged to have ended the financial year on a positive note, given the global pandemic. The past two years has been challenging for everyone, as we learned to survive and thrive under the new normal.

“Recognising the challenging economic situation, Sunsuria has been proactively employing innovative solutions to enable Malaysians to purchase their future homes,” said Sunsuria’s Executive Chairman Tan Sri Datuk Ter Leong Yap.

“The consistent revenue contribution from Tangerine Suites and Sunsuria Forum (Phase 2) developments has demonstrated the effectiveness of our ‘Yours to Own’ Houzkey homeownership campaign. Winning the Best Sustainable Township Development for Sunsuria City was another feather in our cap – affirming and galvanising our commitment towards pursuing innovation for greater stakeholder value,” he said.

“Moving forward, the reopening of the economy under the National Recovery Plan, and the government’s ongoing vaccination efforts bode well for the country’s economic outlook. The Real Property Gains Tax (RPGT) waiver for properties disposed of in the sixth year, as well as the government’s RM2 billion Housing Credit Guarantee Scheme to facilitate mortgage loans for Malaysian gig economy workers and small traders, will help bolster the property industry.

“As lockdown restrictions relax, we must not let our guard down but continue to be vigilant in complying and enforcing the Standard Operating Procedures (SOPs). Only by working together can we prevent new COVID-19 outbreaks and do our part in tackling this pandemic,” said Ter.

Launched in partnership with Maybank Islamic in March this year, Sunsuria’s ‘Yours to Own Houzkey’ homeownership campaign offers 100% financing with no down payment required, zero payment during the construction period, and low monthly payment with financing rates starting from RM680 that will be required to be serviced upon completion of the project and after the vacant possession stage.

The developments offered under the Houzkey campaign are Sunsuria City’s high-rise development Tangerine Suites, as well as Sunsuria Forum’s Residential Suites & SOHO in Setia Alam. 

The campaign, which ends on 31 December this year, enables eligible homeowners to enjoy the benefits under the government’s Home Ownership campaign, which include stamp duty exemptions, Memorandum of Transfer waivers and 10% discount on the purchase of property. 

 

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