KUCHING: Ibraco Bhd’s share price surged to an all-time high of RM1.40 last Friday as investors continued to chase the stock.
The property developer and construction company gained 6 sen to RM1.40 with 189,400 shares changing hands on the last trading day of the week, giving the company a market capitalisation of about RM764.5 million.
The company has a total number of 546 million issued shares.
On a 52-week period, Ibraco fell to a low of 85 sen.
Ibraco’s single largest shareholder, Hiap Ghee Seng Sdn Bhd, acquired five million shares via a married deal on September 30, 2025, raising its stake in the company to about 136.27 million shares (24.956 per cent).
The seller was not stated in Ibraco’s filing with Bursa Malaysia.
This was the second major acquisition last month – the first was when Hiap Ghee Seng bought 5.2 million shares, also via a married deal, from Datuk Chew Chiaw Han on September 8.
Hiap Ghee Seng is the private vehicle of Chew, who is also Ibraco’s Group Managing Director. Chew has a direct shareholding of nearly 15.23 million shares (2.788 per cent) in Ibraco, bringing his total equity interest in the company to about 151.49 million shares (27.744 per cent).
As of April 2, 2025, Sharifah Deborah Sophia Ibrahim is Ibraco’s second largest shareholder, owning 99.366 million shares (18.2 per cent), followed by Ng Cheng Chuan with 80.72 million shares (direct and indirect 14.78 per cent).
In the second quarter ended June 30, 2025 (2Q2025), Ibraco posted impressive earnings, with group net profit of RM30.5 million (2Q2024:RM6.24 million) as revenue soared to RM193.1 million (RM94.43 million).
On a six-month period for the financial year 2025 (6m2025), Ibraco Group’s net profit jumped to RM44.1 million (6m2024: RM11.53 million) as revenue grew to RM377.1 million (RM174.57 million).
In its 2024 annual report, Chew said Ibraco had unbilled sales of RM234.84 million as of December 31, 2024.
For the current financial year, he said Ibraco is set to launch projects worth RM550 million, primarily focusing on residential projects and an industrial development in Sejinkat Industrial Park here to cater to a broader customer base and mitigate market risks.
Also in the pipeline are affordable landed housing in Kuching and another new service apartment project in Bintulu.
Beyond Sarawak, Ibraco is currently undertaking its second high-rise development in Peninsular Malaysia – Residensi NewUrban – in Petaling Jaya, Selangor.
The serviced apartment has two 36-storey towers with a total of 922 serviced apartments at an estimated gross development value (GDV) of RM528.6 million.
The first completed project in the peninsula is the Residensi ContiNew in Kuala Lumpur.
In Kuching, Ibraco’s current flagship project is The NorthBank, a comprehensive mixed-use development spanning 123 acres, situated opposite Ibraco’s previous flagship development – Tabuan Tranquility.
The NorthBank township integrates residential, commercial and recreational facilities.
Meanwhile, Borneo Oil Bhd recorded heavy trading volume of about 522.18 million shares on Friday, the No 1 active stock on KLSE. The stock was traded between RM0.005 and RM0.01 sen.
Borneo Oil, which owns home-grown fast-food restaurant chain, SugarBun, has a total of 15.135 billion shares.
A major shareholder, Victoria Capital Sdn Bhd, disposed of 52.5 million shares on October 3, reducing its stake in Borneo Oil to about 997.97 million (6.594 per cent).
The company’s Managing Director, Datuk Ambrose Lee Yok Min @ Ambrose sold five million shares on Friday, reducing his direct stake in the company to 774.75 million (5.119 per cent).
Lee has indirect shareholding of 1.333 billion shares (8.807 per cent).
