{"id":7022,"date":"2026-03-18T14:56:06","date_gmt":"2026-03-18T14:56:06","guid":{"rendered":"https:\/\/malaysian-business.com\/wptest\/?p=7022"},"modified":"2026-03-25T15:04:14","modified_gmt":"2026-03-25T15:04:14","slug":"glomac-3qfy2026-revenue-rockets-92-as-landed-residential-strategy-pays-off","status":"publish","type":"post","link":"https:\/\/malaysian-business.com\/portal\/2026\/03\/18\/glomac-3qfy2026-revenue-rockets-92-as-landed-residential-strategy-pays-off\/","title":{"rendered":"Glomac 3QFY2026: Revenue Rockets 92% as Landed Residential Strategy Pays Off"},"content":{"rendered":"\n

Glomac Berhad<\/strong> has reported a powerful third-quarter performance, with revenue surging 92% to RM64.6 million<\/strong>, while Profit Before Tax (PBT) outpaced growth with a 114% jump to RM7.1 million<\/strong>. The results, for the period ended 31 January 2026, reflect a high-velocity conversion of unbilled sales into revenue as construction momentum accelerates across its key townships.<\/p>\n\n\n\n

The Engine Room: Progress Billings and “Sold Out” Phases<\/strong><\/h3>\n\n\n\n

The primary driver of this 3Q surge was the steady progress billings from several flagship developments. Notably, the KEYS<\/strong> semi-detached homes and shop offices at Lakeside Residences<\/strong>, along with the Serai<\/strong> series at Sungai Buloh Country Resort (SBCR)<\/strong>, have seen construction activity hit high gear.<\/p>\n\n\n\n

Crucially, the initial phases of these projects were fully sold<\/strong> upon launch. This 100% take-up rate has allowed Glomac to move straight into aggressive construction and revenue recognition, shielding the group from the “overhang” issues currently plaguing high-rise developers in the Klang Valley.<\/p>\n\n\n\n

Strategic Fortress: A “Zero-Debt” Posture<\/strong><\/h3>\n\n\n\n

Perhaps more impressive than the revenue growth is Glomac\u2019s fiscal discipline. In an era of fluctuating interest rates, the Group maintains:<\/p>\n\n\n\n

    \n
  • Negligible net borrowings:<\/strong> Effectively operating on a net-cash basis.<\/li>\n\n\n\n
  • Liquidity:<\/strong> Cash and cash equivalents stand at RM208.3 million<\/strong>.<\/li>\n\n\n\n
  • Firepower:<\/strong> Access to a RM3.0 billion Sukuk Wakalah Programme<\/strong>, providing a massive “war chest” for future land acquisitions should the right opportunity arise.<\/li>\n<\/ul>\n\n\n\n

    With a Net Asset Per Share of RM1.56<\/strong>, Glomac is currently trading at a price-to-book ratio of just 0.22 times<\/strong>. For value investors, this represents a significant discount, especially considering the group’s RM6 billion Gross Development Value (GDV)<\/strong> pipeline.<\/p>\n\n\n\n

    Editor\u2019s Take: Continuity and the Landed Focus<\/strong><\/h3>\n\n\n\n

    The appointment of FD Idzham Datuk Seri FD Iskandar<\/strong> as Group Executive Director signals a clear “Succession and Strength” play. Under this reinforced leadership, Glomac is doubling down on what it does best: landed residential products in established townships.<\/strong><\/p>\n\n\n\n

    By avoiding the speculative high-rise market and focusing on demand-driven terrace and semi-detached homes in places like Kulai, Rawang, and Saujana Perdana<\/strong>, Glomac is insulating itself from broader economic volatility. With RM256 million<\/strong> in new launches planned for the coming quarter, the group is clearly shifting from “preservation mode” to “growth mode”.<\/p>\n\n\n\n

    \n\n\n\n

    3QFY2026: Financial Snapshot<\/strong><\/h3>\n\n\n\n
    Metric<\/strong><\/td>3QFY2026 (RM)<\/strong><\/td>Change (YoY)<\/strong><\/td><\/tr><\/thead>
    Revenue<\/strong><\/td>64.6 Million<\/td>+92%<\/strong><\/td><\/tr>
    Profit Before Tax (PBT)<\/strong><\/td>7.1 Million<\/td>+114%<\/strong><\/td><\/tr>
    Unbilled Sales<\/strong><\/td>637 Million<\/td>High Visibility<\/td><\/tr>
    Cash Position<\/strong><\/td>208.3 Million<\/td>Robust<\/td><\/tr>
    Net Asset Per Share<\/strong><\/td>1.56<\/td>Under-valued<\/td><\/tr><\/tbody><\/table><\/figure>\n","protected":false},"excerpt":{"rendered":"

    Glomac Berhad has reported a powerful third-quarter performance, with revenue surging 92% to RM64.6 million, while Profit Before Tax (PBT) outpaced growth with a 114% jump to RM7.1 million. The results, for the period ended 31 January 2026, reflect a high-velocity conversion of unbilled sales into revenue as construction momentum accelerates across its key townships. […]<\/p>\n","protected":false},"author":5,"featured_media":7023,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35],"tags":[466,458,467,463,465,462,464],"class_list":["post-7022","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-corporate","tag-3qfy2026","tag-bursamalaysia","tag-fdidzham","tag-glomac","tag-landedresidential","tag-malaysiaproperty","tag-realestaterecovery"],"_links":{"self":[{"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/posts\/7022","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/comments?post=7022"}],"version-history":[{"count":1,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/posts\/7022\/revisions"}],"predecessor-version":[{"id":7024,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/posts\/7022\/revisions\/7024"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/media\/7023"}],"wp:attachment":[{"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/media?parent=7022"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/categories?post=7022"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/tags?post=7022"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}