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Companies

Sime Darby Property 2Q profit doubles; sets 40%-60% payout target

Sime Darby Property Bhd more than doubled its quarterly net profit to RM322.04 million for the three months ended June 30, 2026, from RM143.54 million a year earlier.

Source: EdgeProp Malaysia · August 24, 2026 at 10:01 PM · AI-assisted report

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Sime Darby Property 2Q profit doubles; sets 40%-60% payout target
Image: edgeprop.my

KUALA LUMPUR, 25 AUGUST 2026 —

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Sime Darby Property Bhd more than doubled its quarterly net profit to RM322.04 million for the three months ended June 30, 2026, from RM143.54 million a year earlier.

Market Impact

Revenue rose 9.3% year-on-year to RM1.16 billion while profit before tax jumped 82.5% to RM399.29 million, according to the group’s unaudited filing with Bursa Malaysia on Aug 24. Earnings per share climbed to 4.74 sen from 2.11 sen.

Compared with the preceding quarter, revenue jumped 45.2% from RM799.2 million, PBT rose about 69% from RM236.3 million and net profit attributable to shareholders increased 102.8% from RM158.78 million.

Property development revenue jumped 46.3% quarter-on-quarter to RM1.06 billion from RM722.5 million, driven by higher recognitions across industrial, residential high-rise and commercial products. Earnings rose on stronger contributions from Bandar Bukit Raja, KLGCC Resort, Hamilton Nilai City, SJ7 and SJCC. A RM36.2 million charge from a High Court land-acquisition order partly offset the gains, the group said, and both quarters reflected fair-value gains on completed investment properties.

Investment and asset management revenue rose 49.9% quarter-on-quarter to RM82.6 million from RM55.1 million, mainly from lease income at a built-to-lease data centre and higher takings at KLGCC Convention Centre after upgrades. The segment’s earnings were also lifted by a reversal of disposal provisions following a completed settlement and stronger operating performance.

The group booked a RM55.3 million fair-value gain on investment properties valued at RM235.2 million in the quarter, raising net assets per share by 0.81 sen under MFRS 140.

For the first half of FY2026, profit after tax and minority interests rose 83.6% to RM480.82 million from RM261.95 million. Revenue edged up 1.3% to RM1.96 billion and PBT rose 59.5% to RM635.56 million. The group cited stronger underlying development and asset-management performance, fair-value gains and improved joint-venture contributions.

Sime Darby Property recorded RM1.8 billion in sales in the first six months, with unbilled bookings of RM3.8 billion and RM1 billion in new bookings by Aug 9. It said it remains on track to meet its RM4 billion full-year sales target and RM4.7 billion of planned launches, barring unforeseen circumstances.

The company declared an interim single-tier dividend of 1.7 sen per share for the financial year, compared with 1.5 sen a year earlier. Payment is due on Oct 21 with an entitlement date of Sept 30.

Sime Darby Property unveiled a dividend policy targeting a 40% to 60% payout ratio of consolidated attributable profit, excluding extraordinary items. Distribution depends on distributable reserves, capital expenditure plans, working-capital needs and debt obligations.

The group restated comparative segment data after moving certain leisure activities into investment and asset management while golf and sports activities were reclassified. It said the change had no effect on profit, retained earnings, financial position or cash flows.

Related: Sime Darby · Bursa Malaysia

Reporting based on EdgeProp Malaysia. Figures and claims are subject to revision as the story develops. DomainFork publishes editorial context, not investment advice — see our editorial standards.