Radium records revenue of RM48.5 mil for 3QFYE2024, 3.6% increase over same quarter last year

• Following the acquisition of a prime parcel of land on Old Klang Road, Radium Global Sdn Bhd, a subsidiary of the group, has launched Radium Arena @ Old Klang Road, a high-rise residential development.

KUALA LUMPUR (Nov 21): Radium Development Bhd saw revenue of RM48.5 million in its financial results for the third quarter of the fiscal year ending 2024 (3QFYE2024), reflecting a 3.6% increase compared to RM46.8 million in the same quarter last year.

Announcing its financial results in a media release, profit before tax saw a significant turnaround, rising to RM7.7 million from a loss of RM1.5 million in 3QFYE2023.

As of Sept 30, 2024, Radium maintains a robust balance sheet with a cash position of RM237 million and a gross gearing ratio of 0.04 times against shareholders’ funds of RM760.8 million.

Following the acquisition of a prime parcel of land on Old Klang Road, Radium Global Sdn Bhd, a subsidiary of the group, has launched Radium Arena @ Old Klang Road, a high-rise residential development. With an estimated GDV of RM550 million, this project, catering to first-time homebuyers and upgraders capitalises on a prime location and marks a significant milestone in Radium’s ongoing commitment to expanding its property portfolio.

Additionally, Radium has allocated approximately RM109.3 million of its initial public offering to develop a 145-room boutique hotel in Ampang, Kuala Lumpur. This strategic initiative aims to capitalise on the city’s tourism sector and further diversify the group’s offerings, complementing its broader property development portfolio.

“Our continued expansion of landbanking and diversification into the hospitality sector are integral to our growth strategy,” said group managing director of Radium Development, Datuk Gary Gan Kah Siong. (pictured)  “These initiatives strengthen our property development portfolio and are aligned with our commitment to creating long-term sustainable value for our stakeholders, contributing to Malaysia’s urban landscape,” he added.

Vista Adesa and Radium Adesa – collectively known as Desa East Residences – which were launched last year, continue to generate interest for their strategic location, connectivity, and flexible spaces. “This is a testament to Radium’s ability to deliver high-quality developments that resonate with market demand,” stated the group.

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