The group reported a profit before tax (PBT) of RM7.2 million for the fourth quarter of 2023 (Q4 2023), up 14% from the previous corresponding period.

In a statement issued to the media today, the group said it recorded a RM2.2 million increase in revenue to RM44.5 million in the same quarter from RM42.3 million in Q4 2022.

I-Bhd chairman Lim Kim Hong said the focus on re-positioning i-City in a new light has created sustained long-term multiplier effects for its property development, property investment and leisure divisions.

I-City is an ICT-based urban development project in Shah Alam.

The group’s unbilled sales for another property, BeCentral, rose 30% to RM112.8 million as of Dec 31, 2023, from RM87.3 million in the preceding year.

Going forward, efforts will be made to maximise returns from key components of its portfolio of investment properties such as Mercu Maybank Corporate Tower, data centre, Central i-City Mall and parking blocks.

Lim said the leisure and hospitality segments will also see new investments aimed at enhancing visitor experience.