Kota Kinabalu (Feb 28) - Sabah-based port operator Suria Capital Holdings Bhd returned to the black in the fourth quarter ended Dec 31, 2025 (4QFY2025), supported by accelerated revenue recognition from its Jesselton Docklands waterfront development.
The group, which manages eight ports across Sabah, recorded a net profit of RM3.39 million for the quarter, compared with a net loss of RM12.88 million in the same period a year earlier. Earnings per share came in at 0.98 sen versus a loss per share of 3.72 sen previously.
Quarterly revenue rose 33.2% to RM62.21 million from RM46.71 million, largely driven by construction services income related to port infrastructure upgrading and expansion works, according to its filing with Bursa Malaysia.
However, on a quarter-on-quarter basis, net profit declined 83.3% from RM20.33 million, which the company attributed to higher property development revenue recognised in the preceding quarter.
Suria has proposed an interim dividend of 1.5 sen per share for the financial year ended Dec 31, 2025 (FY2025), unchanged from the previous year.
For the full financial year, net profit climbed 37.4% to RM46.53 million from RM33.87 million in FY2024. Revenue for the year increased marginally by 2.5% to RM277.77 million, compared with RM271.03 million previously.
The group said it remains cautiously optimistic, underpinned by steady contributions from its core port operations and progressive earnings from its property development segment. As Sabah’s main port concessionaire, port activities continue to anchor its performance. Its collaboration with DP World Sabah Sdn Bhd also enables participation in container-related operations through equity accounting.
Suria noted that revenue recognition following the unconditional status of Joint Development Agreement 1 (JDA1) for the Jesselton Docklands project marks further progress in its waterfront redevelopment efforts, which also include Jesselton Quay and the broader Jesselton Waterfront City development.
The company expects improved results from its ferry terminal operations after the planned relocation to an interim terminal at the South Jetty by the end of the first quarter of 2026. Additionally, its proposed 100-megawatt gas peaking plant in Kimanis, Sabah, is anticipated to generate recurring income, subject to regulatory approvals and financing arrangements.
Suria shares were untraded on Friday and last closed at RM1.52 on Thursday, giving the group a market capitalisation of RM525.65 million. The stock has declined 9.5% over the past 12 months.
For Sabahans, Suria’s return to profitability signals continued development in the state’s port and waterfront sectors. Ongoing port upgrades, the Jesselton Docklands redevelopment, ferry terminal relocation and the proposed Kimanis gas plant could contribute to job creation, infrastructure improvements and broader economic activity, strengthening Sabah’s logistics, tourism and energy landscape.