Gold Li Targets 10% Revenue Growth Amid Stable Johor Demand

Property developer Gold Li Holdings Bhd is targeting around 10% revenue growth for financial year 2026, supported by resilient demand in its core Johor markets of Muar, Tangkak and Batu Pahat.

Speaking during a virtual media briefing, chief financial officer Tey Bock Heng said the company aims to achieve approximately RM70 million in revenue this year, driven mainly by its existing landed residential developments.

The projected growth currently excludes the group’s upcoming maiden high-rise residential project in Muar, which is scheduled for launch in 2027. The development will comprise 500 residential units with an estimated gross development value (GDV) of RM400 million.

According to Tey, Gold Li remains cautiously optimistic about its outlook over the next six to 12 months, citing infrastructure-related developments in Muar as a potential catalyst for stronger property demand. Among the key projects highlighted was the Maharani Energy Gateway development, which management believes could enhance economic activity and housing demand in the area.

At present, the group has 13 ongoing projects and 28 planned developments with a combined GDV of approximately RM854.9 million. Its landbank in Johor spans about 47.3 acres.

For the financial year ended Jan 31, 2025, Gold Li recorded a net profit of RM7.84 million on revenue of RM65.03 million, reflecting continued earnings support from its residential developments.

Tey noted that the company’s buyer base mainly consists of local Malaysians rather than foreign purchasers. Unlike Johor Bahru, which typically attracts more overseas interest, Gold Li’s projects in Muar, Tangkak and Batu Pahat are largely positioned for local homebuyers and domestic investors.

On operational resilience, the company highlighted its vertically integrated business model as a strategic advantage amid ongoing economic and supply chain uncertainties. By maintaining its own in-house construction team, Gold Li said it is able to exercise tighter control over construction costs and project delivery timelines.

Tey added that this structure places the company in a stronger position to manage rising development costs and external market volatility.

Gold Li debuted on the ACE Market of Bursa Malaysia on Monday, opening at 12 sen, one sen below its IPO price of 13 sen. Management attributed the weaker share price performance to broader market sentiment and geopolitical uncertainties, including tensions in the Middle East, rather than company fundamentals.

Of the RM15.21 million raised from the IPO, over 70% has been allocated toward funding ongoing and planned property developments. Around RM11.21 million has been earmarked for working capital and development-related expenses, while the remaining RM4 million was set aside for listing expenses.

As of 11.45am on Monday, Gold Li shares were trading at 11 sen, valuing the company at approximately RM66 million.