{
  "id": 8613213,
  "title": "Glomac sales momentum set to pick up from Q2 FY27",
  "url": "https://urgent.news/2026/09/20/glomac-sales-momentum-set-to-pick-up-from-q2-fy27",
  "topic": "business",
  "section": "Business",
  "published": "2026-09-20T04:11:13.000Z",
  "source": {
    "name": "New Straits Times",
    "slug": "new-straits-times",
    "url": "https://www.nst.com.my/business/corporate/2026/09/1536780/glomac-sales-momentum-set-pick-q2-fy27"
  },
  "original_language": "en",
  "account": "KUALA LUMPUR: Glomac Bhd's sales momentum is expected to strengthen from the second quarter of its financial year 2027, as the property developer prepares to launch the remaining projects for the year, according to TA Securities. The company launched RM163 million worth of projects in the quarter ending October 31, 2026, comprising Qaya shop offices at Saujana Perdana, Serai 3 at Sungai Buloh Country Resort, and 16 Legacy at Saujana Rawang, which account for slightly over half of Glomac's planned FY27 launches worth RM317 million. Management anticipates a sales improvement for FY27 but has not set a formal target yet. Glomac reported a core net profit of RM7.6 million for Q1 FY27, surpassing TA Securities' expectations, driven by higher margins and revenue that matched the firm's expectations. Revenue surged 163% year-on-year, primarily due to property development revenue, which more than tripled to RM61.1 million. The company remains in a net cash position with about RM25 million in end-July 2026, and TA Securities maintains a Hold rating on Glomac shares with an unchanged target price of 34 sen per share.",
  "summary": "KUALA LUMPUR: Glomac Bhd's sales momentum is expected to pick up from the second quarter (Q2) of its financial year 2027 (FY27), as the property developer rolls out its remaining launches for the year.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}