KUALA LUMPUR: Glomac Bhd

plans to launch RM371mil worth of new developments in the financial year ending April 30, 2027 (FY27), supported by a landbank with a potential gross development value (GDV) exceeding RM6bil.

“The FY27 launch programme is already under way, with RM163mil of new products introduced to date,” the property developer said in a statement.

A further RM208mil of launches is planned for the third quarter, including new shop offices at Saujana KLIA.

Following its 42nd annual general meeting (AGM), Glomac said shareholders had approved a final single-tier dividend of 1.38 sen per share for FY26.

The dividend will be paid on Dec 16, 2026, to shareholders on the register as at Dec 1.

For FY26, Glomac recorded revenue of RM226.2mil, pre-tax profit of RM32.7mil and net profit of RM20.2mil.

Property development remained its main earnings contributor, while lower finance costs and tax expenses supported profitability.

The group ended FY2026 with RM546mil in unbilled sales, providing earnings visibility as construction progresses.

As at April 30, 2026, Glomac had cash and bank balances of RM218.9mil and negligible net gearing.

It also has a RM3bil Sukuk Wakalah Programme and approximately 600 acres of landbank with a potential GDV exceeding RM6bil.

Glomac said it remained focused on executing its development pipeline and unlocking value from existing land and investment assets.

However, it noted that construction costs and inflationary pressures continued to pose challenges to the operating environment.