Sarawak-based developer Ibraco Berhad has announced a net profit of RM13.3m for the first quarter of the financial year 2026, ending 31 March. Despite a decline in overall revenue to RM160.9m from RM184.1m in the same period last year, the company achieved a 9.3% year-on-year increase in gross profit, reaching RM40.8m.
The property development segment emerged as the largest revenue contributor, growing by 28.2% year-on-year to RM81.8m, which accounted for 50.8% of the group’s turnover. Meanwhile, the construction segment, although experiencing a decline, contributed RM67.5m, representing 42% of total revenue. The manufacturing segment saw a significant rise of 92.6% in revenue to RM5.2m.
Group Managing Director Chew Chiaw Han commented, “We started 2026 with a resilient set of results, driven by steady progress across our key developments and improved margins from our property development segment.”
Ibraco’s ongoing projects include the NorthBank township in Sarawak and Arden City in Kota Samarahan, both of which are progressing on schedule. The company is also focusing on expanding its presence in West Malaysia with the Residensi NewUrban development in Petaling Jaya.
Looking ahead, Ibraco aims for a balanced revenue contribution between its construction and property development segments. Key projects such as the Second Trunk Road Package A1A and the Kuching Urban Transportation System Blue Line Package 1 are expected to bolster future earnings and enhance the company’s competitive edge in securing public infrastructure contracts.
