PETALING JAYA: AME Elite Consortium Bhd’s net profit rose 50% to RM48.59 million in the first quarter ended June 30, 2026 (Q1’27), from RM32.39 million a year earlier, driven by higher contributions from its construction services segment and fair value gains on investment properties.
Revenue increased 4.4% to RM195.74 million from RM187.46 million previously, as construction services revenue jumped 74.3% to RM80.35 million, partly offset by a 30.1% decline in property development revenue to RM68.94 million due to lower stages of work completed and the timing of income recognition.
The property investment and management division’s recurring external revenue rose 21.8% to RM23.1 million, supported by additional factory leases and higher rental income from workers’ dormitories.
AME Elite recorded RM23.29 million in fair value gains on investment properties during the quarter, including gains from the sale of an industrial property to AME REIT.
Looking ahead, the group said its external construction and engineering order book stood at RM485.7 million, while its property development division had RM395.1 million in unbilled sales from i-TechValley at SILC and RM116.9 million from its 50%-owned Northern TechValley@BKE joint venture project in Penang.
The group expects the industrial property sector in Johor to remain active, supported by infrastructure developments and the Johor-Singapore Special Economic Zone, although it noted that Middle East conflicts have begun to create inflationary pressures on construction and operating costs.
