LSH Capital Q3 earnings fall 43pct to RM15mil on lower property revenue

Lim Seong Hai Capital Bhd (LSH Capital) reported a sharp decline in net profit for the third quarter ending June 30, 2026, with profits falling 42.6% to RM14.97 million, down from RM26.12 million in the same period last year. This decrease was primarily due to a drop in revenue from its property development segment, which fell to RM40.48 million, a 7.5% reduction from RM49.22 million in Q3 2025.

The main reason for this decline was the LSH Segar project nearing completion, resulting in lower revenue recognition of RM32.66 million compared to RM49.22 million a year earlier. However, this downturn was somewhat offset by revenue from the Lake Side Homes project, which recognized RM7.82 million. For the nine months to June 30, 2026, LSH Capital's net profit saw a 9.9% decline to RM59.59 million, while its revenue increased by 12.6% to RM366.43 million, up from RM325.24 million in the same period last year.

Despite the Q3 setback, the company remains committed to bolstering its core construction and engineering business while expanding its construction-related services and solutions under the BEST Collaboration Framework. LSH Capital aims to build its order book for construction and engineering works, construction-related services, and solutions, and is actively participating in tenders and submitting proposals for new projects to secure recurring income from infrastructure assets.