PRESS RELEASE SURIA CAPITAL EXPANDS INTO POWER GENERATION SECTOR, REPORTS RESILIENT FIRST QUARTER PERFORMANCE KOTA KINABALU, 21 May 2026 - Suria Capital Holdings Berhad ("SuriaGroup" or "the Group") is pleased to announce its unaudited financial results for the first quarter ended 31 March 2026 ("Q1 FY2026").
The Group recorded total revenue of RM46.4 million for the quarter under review, remaining broadly stable compared to RM46.1 million recorded in the same quarter last year. Profit before tax ("PBT") and profit after tax ("PAT") stood at RM9.1 million and RM4.4 million respectively, compared to RM15.5 million and RM12.0 million achieved in Q1 FY2025.
The lower earnings performance was primarily attributable to softer contribution from the property development and leasing segment compared to the corresponding quarter last year. In addition, the quarter's performance was impacted by certain non-recurring costs arising from the relocation of ferry terminal operations to the new interim terminal, which commenced operations in March 2026.
Despite the softer results, the port business continued to provide stable support to the Group's overall performance.
For the financial year-to-date ended 31 March 2026, the port operations segment remained the Group's principal earnings contributor, accounting for 68.7% of the Group's PBT compared with 58.0% in the corresponding period last year, and contributed 87.8 % of the Group's total revenue compared with 84.0% in Q1 FY2025.
Meanwhile, the Group's other business segments, including logistics and bunkering services, contract and engineering, ferry terminal operations, and property
development and leasing, continued to support the Group's diversified business portfolio.
While general cargo and container cargo handled at the Group's wholly operated ports moderated during the quarter, container handling activities at SBCP remained encouraging.
Total container throughput reached 129,213 TEUs for the quarter, of which 97,466 TEUs were handled at SBCP. Compared to the corresponding period last year, container throughput at SBCP increased by 6.0% from 92,109 TEUs.
SBCP is operated by DPW Sabah Sdn Bhd, a joint venture between Sabah Ports Sdn Bhd and DP World, with the financial contribution from SBCP recognised as share of profit from an associate company.
Commenting on the Group's performance and outlook, Datuk Ahmad Rizal Dahli, Group Managing Director of Suria Capital Holdings Berhad, said:
"Our core port operations segment continued to demonstrate resilience during the quarter amid a more moderate overall performance. At the same time, the Group continues to make meaningful progress on several strategic initiatives, including the proposed diversification into the power business following the receipt and acceptance of a Letter of Notification from the Energy Commission of Sabah for the proposed development of a 100MW gas-fired peaking power plant in Kimanis, Sabah. In line with this strategic diversification, the Group will be seeking shareholders' mandate at the upcoming Extraordinary General Meeting (EGM) to undertake the proposed diversification into the power generation business."
"The partnership between the Group's subsidiary, SCHB Engineering Services Sdn Bhd, and NRG Consortium (Sabah) Sdn Bhd represents a strategic entry into the power generation sector, enabling the Group to leverage NRG's technical expertise and operational experience in gas-fired power infrastructure while jointly undertaking the development, construction and operation of the plant to support Sabah's growing electricity demand, improve grid stability and strengthen the Group's long-term earnings resilience."
"This marks an important step towards strengthening the Group's long-term growth prospects, broadening its earnings base and creating sustainable value for shareholders".
The Group remains optimistic on its operational performance for the remaining period of FY2026, supported mainly by the resilient performance of the port operations segment. The newly relocated interim ferry terminal is also expected to enhance operational efficiency, improve passenger handling capacity and create additional commercial opportunities going forward.
Meanwhile, the Group will continue discussions towards finalising the extension of Sabah Ports Sdn Bhd's concession period to 31 August 2064. Sabah Ports has been the principal port operator in Sabah since 1 September 2004 under a 30-year concession granted pursuant to the state's port privatisation exercise, managing and operating the state's major ports across both the west and east coasts of Sabah.
The Group remains focused on strengthening its core businesses while advancing strategic growth initiatives to support long-term sustainable value creation.
- THE END -For media inquiries, please contact:
Group Corporate Affairs and Communication Department Tel: 088-257788 (Maxson)
Email: maxson@suriaplc.com.my