KUCHING: Property developer NAIM Holdings Bhd chalked up new property sales of RM58.5 million last year.
This was achieved amidst a challenging market environment marked by affordability concerns and tighter financial conditions, said the company’s Chairman, Datuk Amar Hamed Sepawi, and Group Managing Director, Datuk Hasmi Hasnan, in a joint letter to shareholders contained in NAIM’s 2024 annual report.
“This performance reflects our continued resilience and ability to generate sales despite prevailing headwinds,” they said.
Powering the group’s growth, the property development recorded higher revenue of RM273.6 million in financial year ended December 31, 2024 (FY2024), bolstered by a land sale transaction for RM223.4 million.
Keeping cautiously optimistic about market conditions in 2025, they expect the property sector to benefit from infrastructure development and government incentives, particularly in Sarawak where NAIM continues to play a pivotal role in shaping the built environment.
“While challenges, such as rising costs and economic uncertainties persist, we are confident that our agile business strategies and disciplined execution will sustain our growth momentum.
“We will continue to explore new opportunities in property development, expand our project pipeline in construction and optimise our investment assets to maximise returns,” they added.
In 2024, Naim’s construction segment delivered stronger financial results, with its pre-tax profit surged by 201 per cent to RM13.6 million on revenue of RM184.6 million.
The segment benefitted from cost efficiencies, strategic project execution and the finalisation of completed contracts.
Also reporting stronger performance is the group’s investment and Other Business segments, with their revenue jumped to RM40.3 million from RM24.9 million in 2023, thanks to the contribution from the quarry and hospitality services operations.
Naim owns the 238-room Farfield by Marriott Hotel in Bintulu which opened its door in 2019.
“As we move forward, our focus remains on strengthening the foundation of our business.
“We have made significant strides in enhancing operational efficiency, ensuring that projects are executed with precision, cost discipline, and risk mitigation.
“Our teams have been proactive in optimising resources, improving project timelines, and delivering quality development that uphold NAIM’s reputation for excellence.
“In line with our commitment to digital transformation, we have accelerated the adoption of data-driven marketing strategies and customer engagement platforms to enhance brand visibility and improve customer experience.
“By integration analytics, digital platforms and automated processes, we are positioning NAIM for long-term growth in an increasingly technology-driven industry.
“We recognise that delivering value-driven, sustainable development is essential to building long-lasting relationship with homeowners, investors and business partners.
“Our continued emphasis on transparency, quality and service excellence ensures that NAIM remains a trusted brand in the property and construction industry,” said Hamed and Hasmi.
In FY2024, NAIM reported a 57.3 per cent jump in group revenue to RM498.5 million (FY2023: RM316.9 million), driving its pre-tax profit to RM283.1 million (FY2023: RM43.2 million), thanks largely to a major land sale.
