IOI PROPERTIES GROUP BERHAD (5249.KL)
- Sector
- Property
- Price
- RM 3.22 (2.55%)
- Market cap
- 17.7B MYR
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About IOI PROPERTIES GROUP BERHAD
Company Description
IOI Properties Group Berhad (IOIPG) is an award-winning Malaysian property developer with over four decades of history, originally incorporated as Lam Soon Huat Development Sdn Bhd in 1975. It entered property development in 1984, became a subsidiary of IOI Corporation in 1994, and listed on the Main Market of Bursa Malaysia in 2014. The company operates three core business segments: property development, property investments, and hospitality and leisure. Operations span across Malaysia, Singapore, and Xiamen, China. Vertical Capacity Sdn Bhd is the single largest shareholder, linking IOIPG to its sister company, IOI Corporation Bhd.
Business Model
IOIPG operates through property development, property investment, and hospitality segments. Revenue is generated from property sales, rental income from retail and office assets, and hotel operations. The company is strategically shifting towards recurring income, with property investment expected to contribute 47% of group EBIT by FY2027. Key operational structures include large-scale integrated townships in Malaysia and premium commercial assets in Singapore. The model leverages land monetization to recycle capital and reduce gearing, while planned REIT listings aim to crystallize investment property value and unlock shareholder returns.
Revenue Segment
For FY2024, the revenue breakdown by business segment was: Property Development at 68.6% (RM2,015.4m), Property Investment at 22.0% (RM645.9m), and Hospitality & Leisure at 9.0% (RM263.8m).
Top Client
Key named anchor tenants include Amazon and Morgan Stanley at IOI Central Boulevard Towers, and KPMG, Mizuho, Citadel, and Motionhouse at Asia Square Tower 2.
Operational Scale
As of end-FY24, the operational scale includes a retail net lettable area (NLA) of 5.39 million sq ft, an office NLA of 4.43 million sq ft, and 3,075 hotel rooms. The undeveloped landbank stands at 5,079 acres with a remaining gross development value (GDV) of RM65bn. Future targets include the 100-acre IOI Rio City (GDV RM12bn) with a 1m sq ft mall by 2030, and IOI City Mall Phase 3 adding 300k sq ft NLA by CY2028.
Associate Companies
South Beach Development in Singapore was a joint venture with City Developments Ltd (IOIPG held 49.9% prior to acquisition). Other joint venture projects include Cape Royale @ Sentosa Cove (65% stake, partner Ho Bee Land) and Seascape @ Sentosa Cove (50% stake, partner Ho Bee Land).
Latest IOI PROPERTIES GROUP BERHAD news
- No.1 Construction Analyst Upgrades IOIPG to Buy After FY26 Core Profit Surges 133%; REIT Listing Nears
- What’s Next After YTL’s Surge? No.1 Construction Analyst Names 3 Stocks That Could Be Next
- Malaysia No.1 Analyst Ups IOIPG to Buy, Sees Active Land Monetisation Unlocking Hidden Value
- Malaysia’s No.1 Analyst Crown Changes Hands — Her Top Picks Revealed
- One of the Best Property Analysts Sees 100% Upside on IOIPG as “Stars Align” for REIT Listing