Kota Kinabalu: Sabah-based property developer KTI Landmark Berhad (KTI:0308) registered a profit after tax of RM8.5 million for the financial year ended 31 December 2024 (FY2024), as it marked a key milestone with its first 2025 Annual General Meeting (AGM) since listing on the ACE Market of Bursa Malaysia in June last year.
The KTI Landmark Berhad reported RM175.4 million in revenue for FY2024, supported by total sales of RM267.8 million and unbilled sales amounting to RM294.4 million. Despite incurring RM1.96 million in listing-related expenses, the company delivered a stable bottom line, highlighting the resilience of its core operations and the strength of its development pipeline.
As of year-end, KTI’s outstanding order book stood at RM214 million, with a total gross development value (GDV) of RM2.73 billion, including hospitality and retail assets.
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“Our IPO was not just about raising capital. It represented a new chapter of governance, visibility and investor confidence,” he said.
He highlighted recent key developments such as Ayuria Place, a residential project built using environmentally friendly Industrialised Building Systems (IBS) and The Logg in Luyang, a mixed-urban development that combines residential, retail, and commercial offerings.
KTI Landmark Berhad’s operations in FY2024 saw the launch and progress of several residential and commercial projects, particularly in growth corridors like Kota Kinabalu and Sandakan.
These efforts reflect the company’s strategic focus on sustainable, integrated and affordable housing solutions for Sabahans.
With urbanisation and demographic trends driving demand, KTI continues to work with government-linked entities such as Lembaga Pembangunan Perumahan Dan Bandar (LPPB) and national affordable housing programmes like Perumahan Penjawat Awam Malaysia (PPAM) to meet the state’s housing needs.
The company’s annual report also noted a strong rebound in Malaysia’s construction sector in 2024, led by public infrastructure and housing initiatives.
With national data showing double-digit growth in the sector, KTI is positioning itself to benefit from these tailwinds by embedding sustainability and digital innovation in its operations.
This includes the use of green construction methods, smart home features, and digital sales platforms aimed at younger, tech-savvy buyers.
KTI Landmark Berhad’s shares closed at RM0.410 on Tuesday, giving the company a market capitalisation of approximately RM328 million. Since listing, the company has seen steady investor interest, underpinned by confidence in its long-term strategic direction and alignment with government housing policies.
Looking ahead, KTI plans to continue expanding its landbank in urbanising areas across Sabah, diversify its partnerships to enhance margins, and reinforce its ESG (Environmental, Social and Governance) leadership. These steps are part of its broader strategy to deliver value for stakeholders while shaping the property landscape of Sabah.
“To our employees, shareholders and partners, thank you for your trust. We remain committed to creating a sustainable, prosperous future for Sabah and beyond,” said Hamzah.
Founded in 1984, KTI Landmark Berhad is a Sabah-based property developer specialising in integrated and affordable housing. The Group was listed on the ACE Market of Bursa Malaysia in June 2024.