SkyWorld kicks off FY2026 with new housing launches, eyes GDV of RM2.0b this financial year

• CEO Lee Chee Seng: We have additional projects in the pipeline and remain on track to roll out developments with a combined GDV exceeding RM2.0 billion this financial year.

PETALING JAYA (Aug 25): Property developer SkyWorld Development Bhd kicked off FY2026 with new affordable housing launches in Penang and Kuala Lumpur, while continuing steady progress on ongoing projects.

Key launches include SkyWorld Pearlmont in Seberang Jaya, Penang, SkyAwani PRIMA in Brickfields, Kuala Lumpur, and SkyAman 1 in Cheras, a low-density condominium of 510 thoughtfully designed units promoting balanced and harmonious living.

For the quarter ended June 30, 2025 (1QFY2026), SkyWorld reported a net profit of RM2.85 million, down from RM9.99 million a year earlier, mainly due to lower gross profit and an unrealised foreign exchange loss of RM2.3 million.

Revenue fell 24.5% to RM74.6 million from RM98.8 million last year, reflecting steady progress on ongoing projects Curvo Residences and Vesta Residences.

CEO Lee Chee Seng said: “We launched SkyAman 1, a thoughtfully planned low-density condominium designed to promote a lifestyle rooted in balance, harmony and well-being.”

“We have additional projects in the pipeline and remain on track to roll out developments with a combined GDV exceeding RM2.0 billion this financial year.

“We are optimistic these launches will support a commendable sales performance for FY2026 and keep us firmly on track to achieve our RM4.6 billion project launch target by end-2026,” added Lee.

SkyWorld said its strong financial position, backed by RM387.2 million in cash and a low net gearing ratio of 0.12 times, provides the stability to fund projects, sustain operations and manage contingencies.

No dividend was declared for the quarter.

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