Announcement of results for the 1st quarter ended 30 September 2025 by GuocoLand Limited's subsidiary, GuocoLand (Malaysia) Berhad

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Quarterly rpt on consolidated results for the financial period ended 30 Sep 2025

GUOCOLAND (MALAYSIA) BERHAD

Default Currency Other Currency

Currency: Malaysian Ringgit (MYR)

SUMMARY OF KEY FINANCIAL INFORMATION 30 Sep 2025

Definition of Subunit:

In a currency system, there is usually a main unit (base) and subunit that is a fraction amount of the main unit. Example for the subunit as follows:

Announcement Info

QUARTERLY REPORT ON CONSOLIDATED RESULTS FOR THE FIRST QUARTER ENDED 30

SEPTEMBER 2025

The figures have not been audited

CONDENSED CONSOLIDATED INCOME STATEMENT FOR THE FINANCIAL PERIOD ENDED 30 SEPTEMBER 2025

Share of results of associates and joint ventures 911 868 911 868

Profit before tax 11,699 7,412 11,699 7,412

Taxation (3,231) (2,883) (3,231) (2,883)

The condensed consolidated income statement should be read in conjunction with the audited financial statements for the financial year ended 30 June 2025 and the accompanying explanatory notes attached to the interim financial statements.

GUOCOLAND (MALAYSIA) BERHAD (192001000022 (300-K)) QUARTERLY REPORT ON CONSOLIDATED RESULTS FOR THE FIRST QUARTER ENDED 30

SEPTEMBER 2025

The figures have not been audited

CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE FINANCIAL PERIOD ENDED 30 SEPTEMBER 2025 3 months ended Period-to-date ended Total comprehensive income attributable to:

Owners of the parent 6,100 2,909 6,100 2,909

Non-controlling interests 2,368 1,620 2,368 1,620

Total comprehensive income for the period 8,468 4,529 8,468 4,529

The condensed consolidated statement of comprehensive income should be read in conjunction with the audited financial statements for the financial year ended 30 June 2025 and the accompanying explanatory notes attached to the interim financial statements.

The figures have not been audited

CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT 30 SEPTEMBER 2025

The figures have not been audited

CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT 30 SEPTEMBER 2025 (cont'd)

The condensed consolidated statement of financial position should be read in conjunction with the audited financial statements for the financial year ended 30 June 2025 and the accompanying explanatory notes attached to the interim financial statements.

GUOCOLAND (MALAYSIA) BERHAD (192001000022 (300-K)) QUARTERLY REPORT ON CONSOLIDATED RESULTS FOR THE FIRST QUARTER ENDED 30 SEPTEMBER 2025

The figures have not been audited

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY FOR THE FINANCIAL PERIOD ENDED 30 SEPTEMBER 2025 Attributable to owners of the parent

Non-Distributable Distributable

GUOCOLAND (MALAYSIA) BERHAD (192001000022 (300-K))

QUARTERLY REPORT ON CONSOLIDATED RESULTS FOR THE FIRST QUARTER ENDED 30 SEPTEMBER 2025

The figures have not been audited

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY FOR THE FINANCIAL PERIOD ENDED 30 SEPTEMBER 2025 (cont'd) Attributable to owners of the parent

Non-Distributable Distributable

The condensed consolidated statement of changes in equity should be read in conjunction with the audited financial statements for the financial year ended 30 June 2025 and the accompanying explanatory notes attached to the interim financial statements.

The figures have not been audited

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE FINANCIAL PERIOD ENDED 30 SEPTEMBER 2025 Cash flows from operating activities Period-to-date ended 30.09.2025 30.09.2024 RM'000 RM'000

(Restated)

Profit before tax 11,699 7,412

Adjustments for:

Net (reversal)/provision of allowance for impairment

The figures have not been audited

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE FINANCIAL PERIOD ENDED 30 SEPTEMBER 2025 (cont'd) Period-to-date ended

The condensed consolidated statement of cash flows should be read in conjunction with the audited financial statements for the financial year ended 30 June 2025 and the accompanying explanatory notes attached to the interim financial statements.

NOTES

1. Basis of preparation

The interim financial report is unaudited and has been prepared in accordance with Malaysian Financial Reporting Standard ("MFRS") 134: Interim Financial Reporting and paragraph 9.22 of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad.

The interim financial report should be read in conjunction with the audited financial statements of the Group for the financial year ended 30 June 2025 ("FY2025"). The notes attached to the interim financial report provide an explanation of significant events and transactions that contributed to the changes in the financial position and performance of the Group since FY2025.

The accounting policies and presentation adopted for this Unaudited Condensed Consolidated Interim Financial Information are mainly consistent with those of the Group's audited financial statements for FY2025.

The standards, amendments to MFRSs and interpretations that are issued but not yet effective up to the date of issuance of the Group's and of the Company's financial statements are disclosed below. The Group intends to adopt these standards, if applicable, when they become effective.

Effective for financial periods beginning on or after 1 January 2026:

Amendments to MFRS 1 First-time Adoption of Malaysian Financial Reporting Standards Amendments to MFRS 7 Financial Instruments: Disclosures

Amendments to MFRS 9 Financial Instruments

Amendments to MFRS 9 and MFRS 7 Classification and Measurement of Financial Instruments Amendments to MFRS 9 and MFRS 7 Contracts Referencing Nature-dependent Electricity Amendments to MFRS 10 Consolidated Financial Statements

Amendments to MFRS 107 Statement of Cash Flows

Effective for financial periods beginning on or after 1 January 2027:

MFRS 18 Presentation and Disclosure in Financial Statements

MFRS 19 Subsidiaries without Public Accountability Disclosures Amendments to MFRS 19 Subsidiaries without Public Accountability Disclosures

Effective date deferred to a date to be determined by MASB:

Amendments to MFRS 10 Sale or Contribution of Assets between an Investor and its and MFRS 128 Associate or Joint Venture

The adoption of the above is not expected to have significant impact on the financial statements to the Group.

1. Basis of preparation (cont'd) Prior year adjustment

   On 28 May 2024, the Group subscribed to 102,779,550 new rights units in an associate, Tower Real Estate Investment Trust ("Tower REIT"), pursuant to its Rights Issue, for a total subscription amount of RM31,861,661. Following the subscription, the Group's effective interest in Tower REIT increased from 21.66% to 33.32%. In accordance with MFRS 10 Consolidated Financial Statements, the Group has reassessed and concluded that it controls Tower REIT as its effective interest is significant. As a result, the Group has reclassified its investment in Tower REIT from an associate to a subsidiary.

   Accordingly, the comparative figures have been restated to reflect the derecognition of the associate and the effects of the business combination and consolidation of Tower REIT from that date.

   The figures have not been audited

   1. Basis of preparation (cont'd)
      1. Reconciliation of statement of profit or loss

         	Period-to-date ended 30 September 2024 As Effects of previously prior year reported restatements Restated
         	RM'000	RM'000	RM'000
         Revenue	60,335	9,071	69,406
         Cost of sales	(36,806)	(4,313)	(41,119)
         Gross profit	23,529	4,758	28,287
         Selling and marketing expenses	(1,367)	-	(1,367)
         Administrative expenses	(14,337)	278	(14,059)
         Other net income	1,187	17	1,204
         Profit from operations	9,012	5,053	14,065
         Finance income	612	275	887
         Finance costs	(5,647)	(2,761)	(8,408)
         Share of results of associates and joint ventures	1,527	(659)	868
         Profit before tax	5,504	1,908	7,412
         Taxation	(2,883)	-	(2,883)
         Profit for the period	2,621	1,908	4,529
         Profit attributable to:
         Owners of the parent	2,321	588	2,909
         Non-controlling interests	300	1,320	1,620
         Profit for the period	2,621	1,908	4,529
         Profit per share attributable to owners of the parent:
         a) Basic (sen)	0.346		0.434
         b) Diluted (sen)	0.346		0.434

         The figures have not been audited

         1. Basis of preparation (cont'd)
      2. Reconciliation of statement of financial position

         As at 30 September 2024

         	As previously reported	Effects of prior year restatements	Restated
         Non-current assets	RM'000	RM'000	RM'000
         Property, plant and equipment	290,858	5,155	296,013
         Right-of-use assets	13,920	(12,862)	1,058
         Investment properties	285,700	802,000	1,087,700
         Inventories	148,914	-	148,914
         Investments in associates	259,257	(178,102)	81,155
         Investments in joint ventures	137,819	-	137,819
         Other non-current assets	2,917	-	2,917
         Goodwill	2,406	-	2,406
         Deferred tax assets	23,377	-	23,377
         	1,165,168	616,191	1,781,359
         Current assets Inventories	621,282	-	621,282
         Biological assets	235	-	235
         Trade and other receivables	78,878	5,147	84,025
         Contract assets	166,335	-	166,335
         Contract cost assets	43,382	-	43,382
         Other current assets	1,858	-	1,858
         Tax recoverable	229	-	229
         Cash and cash equivalents	101,231	24,248	125,479
         	1,013,430	29,395	1,042,825
         TOTAL ASSETS	2,178,598	645,586	2,824,184

         The figures have not been audited

         1. Basis of preparation (cont'd) (ii) Reconciliation of statement of financial position (cont'd)

            As at 30 September 2024

            	As previously reported	Effects of prior year restatements	Restated
            EQUITY AND LIABILITIES	RM'000	RM'000	RM'000
            Equity attributable to owners of the parent Share capital	385,318	-	385,318
            Reserves	1,019,735	12,649	1,032,384
            Equity funds	1,405,053	12,649	1,417,702
            Shares held by ESS Trust	(23,883)	-	(23,883)
            	1,381,170	12,649	1,393,819
            Non-controlling interests	71,798	378,928	450,726
            TOTAL EQUITY	1,452,968	391,577	1,844,545
            Non-current liabilities Trade and other payables	2,157	5,871	8,028
            Loans and borrowings	307,015	232,367	539,382
            Lease liabilities	12,797	(12,576)	221
            Deferred tax liabilities	13,371	17,291	30,662
            	335,340	242,953	578,293
            Current liabilities Trade and other payables	193,427	11,905	205,332
            Contract liabilities	13,438	296	13,734
            Loans and borrowings	176,716	-	176,716
            Lease liabilities	2,012	(1,145)	867
            Tax payable	4,697	-	4,697
            	390,290	11,056	401,346
            TOTAL LIABILITIES	725,630	254,009	979,639
            TOTAL EQUITY AND LIABILITIES	2,178,598	645,586	2,824,184
            Net assets per share attributable to ordinary owners of the parent (RM)	2.0618		2.0806

2. Qualification of audit report of the preceding annual financial statements

   The audit report for the preceding annual financial statements was not subject to any qualification.

3. Seasonality or cyclicality of interim operations

   The Group's interim operations were not materially affected by any seasonal or cyclical factors for the current quarter under review.

4. Nature and amount of items affecting assets, liabilities, equity, net income or cash flows that are unusual because of their nature, size or incidence

   There were no unusual items affecting assets, liabilities, equity, net income or cash flows during the current financial period ended 30 September 2025.

5. Changes in estimates of amounts reported in prior interim periods of the current financial period or in prior financial periods

   There were no changes in estimates of amounts reported in prior financial periods that have had a material effect in the current financial period.

6. Issues, repurchases and repayments of debt and equity securities

   There were no additional shares purchased by the trust set up for the Executive Share Scheme ("ESS Trust") during the current financial period under review. As at reporting date, a total of 30,544,067 shares of the Company were held by the ESS Trust.

   Save as detailed above, there were no other issues, repurchases and repayments of debts and equity securities during the current financial period.

7. Dividend paid

   No dividend was paid during the current quarter.

8. Segmental reporting

   The Group's segmental report is as follows:

   Financial Period Ended 30.09.2025

   	Property development	Property investment	Hotel	Plantations	Others	Elimination	Consolidated
   	RM'000	RM'000	RM'000	RM'000	RM'000	RM'000	RM'000
   Revenue
   External sales	86,864	14,467	14,919	3,762	2,703	-	122,715
   Inter-segment sales	-	554	-	-	4,924	(5,478)	-
   Total revenue	86,864	15,021	14,919	3,762	7,627	(5,478)	122,715
   Results
   Profit from operations	9,235	6,737	815	2,180	(314)	(2,348)	16,305
   Finance income	271	154	28	16	1,232	(1,067)	634
   Finance costs	(1,266)	(3,571)	(1,455)	-	(1,023)	1,164	(6,151)
   Share of results of associates	(772)	-	-	790	-	-	18
   Share of results of joint ventures	893	-	-	-	-	-	893
   Taxation	(1,840)	(193)	(7)	(527)	(664)	-	(3,231)
   Profit/(loss) for the year	6,521	3,127	(619)	2,459	(769)	(2,251)	8,468

   Segmental reporting by geographical location has not been prepared as the Group's operations are substantially carried out in Malaysia.

9. Valuations of property, plant and equipment and investment properties

   The valuations of property, plant and equipment and investment properties were brought forward without any amendments from the previous annual financial statements, except for the adjustment to certain cost incurred for the investment properties.

10. Material subsequent events not reflected in the financial statements

    There were no material subsequent events not reflected in the financial statements.

11. Changes in the composition of the Group

    There were no changes in the composition of the Group during the current quarter under review, including business combinations, acquisition or disposal of subsidiaries and long-term investments, and restructuring.

12. Review of performance

    Performance of the current quarter against the immediate preceding year's corresponding quarter.

    For the current quarter under review, the Group recorded a revenue of RM122.7 million and a profit before tax of RM11.7 million, compared to RM69.4 million and RM7.4 million respectively, in the preceding year's corresponding quarter. The significant increase in revenue was mainly driven by stronger contributions from the Property Development division, particularly from the Emerald 9 project in Cheras, which continued to register robust sales and progressive construction billings during the quarter. The Plantation division also performed better, supported by higher crude palm oil (CPO) prices, while the Hotel division recorded improved results mainly due to a 13% increase in the average room rate.

    In addition, lower finance costs arising from the reduction in borrowings further supported the improvement in overall profitability.

13. Material change in profit before tax for the current quarter compared with the immediate preceding quarter

    The Group recorded a profit before tax of RM11.7 million for the current quarter, compared to RM13.1 million in the immediate preceding quarter. The decrease was mainly due to higher profit recognition from the Emerald Hills project in the previous quarter, partially offset by lower finance costs and a higher share of profit from the Emerald Rawang joint venture project in current quarter.

14. Prospects

    Despite the persistent external trade uncertainties and elevated construction costs, which weigh on developers' profit margins the outlook of the property market is stabilizing propelled by economic reforms, easing of monetary policy and continuous infrastructural programs to fuel economic catalysts.

    In near term, the Group will prioritise the timely delivery of its ongoing projects and continue its sales efforts of completed inventories to strengthen cash flow and recycle capital to new projects. Financial prudence remains a key focus, with ongoing initiatives to maintain a healthy gearing level.

    In managing rising development costs, the Group is enhancing project efficiency through disciplined cost management, value engineering, and process improvements. Efforts are also underway to realise greater value from the Group's existing land bank through selective developments and strategic repositioning. In addition, the Group will continue to focus on prime residential launches and progressing with plans to diversify into industrial development to capture long-term growth prospects while continuing sourcing for new land bank for future development.

    Barring any unforeseen circumstances, the Group expects to maintain its performance in current financial year.

15. Profit forecast/Profit guarantee

    Not applicable.

16. Profit before tax

Included in profit for the financial period:

3 months ended

Period-to-date

on trade and other receivables (60) 246 (60) 246

Other than the above items, there was no allowance for impairment of inventories, gain or loss on disposal of investment properties, impairment of other assets and other exceptional items for the financial period ended 30 September 2025.

The Group's effective tax rate for the current quarter and financial period were higher than the statutory tax rate is mainly due to certain expenses being not deductible for tax purposes and losses incurred by certain subsidiaries which were not available to set off against taxable profits in other companies within the Group.

1. Corporate proposals

   There is no other outstanding corporate proposal announced but not completed as at the date of this report.

   
   
   
2. Group's borrowings and debt securities

   Particulars of the Group's borrowings as at 30 September 2025 are as follows:

   Short-term borrowings

   RM'000

   Secured 8,000

   Unsecured 71,500

   79,500

   Long-term borrowings

   Secured 471,922

   Total borrowings 551,422

   The above borrowings are all denominated in Ringgit Malaysia.

3. Changes in material litigation

   Barisan Performa Sdn Bhd ("the Claimant") was appointed by GLM Emerald Hills (Cheras) Sdn Bhd ("GLM Emerald Hills"), a wholly-owned subsidiary of the Company, as contractor to perform site clearance, earthwork and other related works on a parcel of land. The contract was subsequently terminated.

   GLM Emerald Hills maintained that the parties had mutually agreed to terminate the contract. However, the Claimant claimed that GLM Emerald Hills had repudiated the contract.

   On 16 June 2025, an arbitration award was issued whereby the Arbitrator awarded and directed GLM Emerald Hills to pay the Claimant a sum of RM6,360,847.45 (comprising payment for work done by the Claimant and materials left on the work site of RM1,238,300.35 and loss of profit due to unlawful repudiation of the contract of RM5,122,547.10), interest of 5% per annum on RM6,360,847.45 from the date the sums were due to the date full payment is received, and incidental costs totalling RM414,487.94.

   GLM Emerald Hills filed an application to set aside the arbitration award at the High Court on 8 September 2025.

4. Dividend

   The Board does not recommend any interim dividend for the financial period ended 30 September 2025.

5. Profit per share Basic EPS

   The basic profit per share are calculated based on the net profit attributable to ordinary shareholders for the financial period divided by the weighted average number of ordinary shares:

   3 months ended Period-to-date ended

   Net profit attributable to ordinary shareholders

   30.09.2025 30.09.2024 30.09.2025 30.09.2024

   (Restated) (Restated)

   for the financial period (RM'000) 6,100 2,909 6,100 2,909

   Weighted average number of shares ('000) 669,914 669,880 669,914 669,880

   Basic profit per share (sen) 0.911 0.434 0.911 0.434

   Diluted EPS

   The Group has no dilution in its EPS for the financial period under review as there are no dilutive potential ordinary shares.

6. Auditors' report on preceding annual financial statements

The auditors' report on the financial statements for the financial year ended 30 June 2025 was not subject to any qualification.

By Order of the Board GuocoLand (Malaysia) Berhad

CHIN MIN YANN LEE SOW YEANG

Company Secretaries

Kuala Lumpur

13 November 2025