Iconic Worldwide targets RM150mil revenue as property sales drive growth

KUALA LUMPUR: Iconic Worldwide Bhd is aiming for nearly double its revenue of RM150 million for the financial year ending June 30, 2027, with property sales as the main growth driver. Manufacturing and hospitality sectors are expected to contribute RM30 million to RM40 million and RM10 million respectively to this target. The company's flagship project, Iconic Harmony, is projected to generate up to RM120 million in revenue once completed.

Executive chairman Datuk Seri Tan Kean Tet believes this target represents a near-doubling of revenue year-on-year. The project, which has a Gross Development Value (GDV) of RM300 million, has seen over RM80 million in sales recognized as revenue as of FY26, leaving more than RM200 million to be recognized in the coming years. Apart from property development, Iconic Worldwide is focusing on strengthening its hospitality and manufacturing businesses to create recurring income.

The company's hospitality arm, Iconic Regency, maintains an average occupancy rate of between 80% and 90%. The rental of its factory to Aperion Technologies is expected to bring in at least RM12 million annually, providing a more stable revenue stream.