I-bhd pre-tax profit at Rm4mil in Q4

SHAH ALAM: Property developer I-bhd posted an increase of 172.11% in pre-tax profit to Rm4mil in the fourth quarter ended Dec 31, 2020, from Rm1.47mil in the same quarter of the previous year.

For the full financial year 2020, the group posted a profit after tax of Rm3.28mil, while revenue was at Rm84.62mil.

In a statement, the group said its property development segment remained the largest revenue contributor, affirming its commitment towards nurturing its master-planned ultrapolis, i-city Golden Triangle (i-city GT), to be on par with leading cities around the world.

Future growth will be underpinned by the remaining 60% gross floor area of projects yet to be developed in i-city GT.

“By ensuring that the technology-related infrastructure of i-city GT is future-proof with the 400GB high availability network, connectivity in i-city GT is an added advantage with the impending deployment of 5G.

“i-city GT’S push toward being 5G-ready will ensure that it becomes the nucleus of telecommunications organisations, financial institutions and high-technology firms, as well as startup companies,” said I-bhd chairman and founder Tan Sri Lim Kim Hong.

Lim said that at i-city GT, the expansion of a data centre park to a dedicated Data Centre Zone is already in the pipeline.