KUALA LUMPUR, SkyWorld Development Bhd is banking on RM483.1mil in unbilled sales as at June 30, 2025, to drive its performance in FY26, supported by progressive revenue recognition from ongoing projects and sales of completed units.
The property developer also plans to roll out new projects with a combined gross development value (GDV) of over RM2bil in Kuala Lumpur and Penang during the financial year ending March 31, 2026.
SkyWorld Development Bhd chief executive officer Lee Chee Seng.
“We are confident these upcoming launches will strengthen sales performance and keep us on track to achieve our RM4.6bil project launch target by end-2026,” said CEO Lee Chee Seng in a statement.
For the first quarter ended June 30, SkyWorld’s net profit plunged 71.5% to RM2.8mil, or 0.29 sen per share, while revenue fell 24.5% to RM74.6mil.
As of June 30, the group maintained a healthy financial position, with gross gearing at 0.57 times, net gearing at 0.12 times, and cash reserves exceeding RM300mil.
“Despite economic headwinds locally and globally, the board remains cautiously optimistic of delivering stable financial and operational results in FY26,” it said.
