PETALING JAYA: Selangor Dredging Bhd (SDB) is expanding its property pipeline with a planned 122-unit residential development near Bukit Mertajam, Penang, as existing projects progress towards completion.
Group managing director Teh Lip Kim said the group’s financial performance for the financial year ended March 31, 2026 (FY2026) reflected the timing of its development pipeline, with earlier projects reaching completion while newer developments remained at an early stage of construction.
“Our results reflect the timing of our development cycle. As a boutique developer, the completion of one project and the progress of the next can have a pronounced effect on revenue from year to year. Our focus is on delivering our current projects well and building the next phase of our pipeline,” she said in a statement after the group’s 65th annual general meeting today.
The proposed Penang development comprises 122 three-storey superlink villas and a clubhouse with facilities for residents.
The project is expected to form part of SDB’s next phase of development as its existing residential projects progress towards completion.
SDB currently has ongoing residential developments including DaMai in Taman Melawati, Selangor, and Elina Resort Homes @ Senai in Johor.
The group has RM155.78 million in unbilled sales from its ongoing projects, with both developments continuing to record sales.
SDB had previously reported a pre-tax loss of RM35.64 million for FY2026, compared with a pre-tax profit of RM29.71 million a year earlier. Revenue fell to RM173.87 million from RM375.95 million, while the group recorded a net loss of RM41.07 million.
Teh said the group remained focused on delivering its current projects while building its next phase of development pipeline.
SDB has delivered 28 developments across Malaysia and Singapore over more than two decades.
