PHB net profit surges over threefold to RM117.2mil in FY24

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KUALA LUMPUR: Pelaburan Hartanah Bhd's (PHB) net profit for the financial year ended Dec 31, 2024 (FY2024) more than tripled to RM117.2 million from RM31.7 million in the previous year.

"We are expanding into high-growth sectors such as healthcare, industrial, and education while strengthening our presence in new markets, including the East Coast, Sabah, and Sarawak, while actively participating in new developments, particularly in Malay Reserve Land,” he added.

PHB stated that borrowing costs declined by 13 per cent to RM38.4 million, following the group’s RM1.5 billion sukuk issuance in September 2024.

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Category: EconomyBusiness

Markets: Malaysia

Topics: Corporate News Mohamad Damshal Awang Damit /Business/Business News Pelaburan Hartanah Revenue Net profit FY2024

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-03-20 @ 17:22:00 (11 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 451 words

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Copyright Owner: © The Star

News ID: 27189483

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