RSSB RETURNS TO PROFIT IN FY26, TARGETS SUSTAINED GROWTH IN FY27 BACKED BY CONSTRUCTION AND PROPERTY DEVELOPMENT PIPELINE
Released on: Thursday, 27 Aug 2026 3:20PM
Rivertree STF Synergies Berhad
- Also secures shareholders’ approvals at the EGM for two proposed acquisitions and one proposed disposal
KUALA LUMPUR, Aug 27 (Bernama) -- Main Market-listed property developer and construction service provider, Rivertree STF Synergies Berhad (formerly known as Sinmah Capital Berhad) (“RSSB” or the “Group”), has announced its fourth quarter (“4QFY26”) and full year results for the financial year ended 30 June 2026 (“FY26”). Following the change in financial year end from 31 December 2024 to 30 June 2025, there are no comparative figures available for both 4QFY26 and FY26.
For the full year, the Group posted a net profit of RM4.3 million on the back of RM24.3 million revenue, of which RM2.2 million was contributed by discontinued operations. This performance marks the Group’s return to full-year profitability following eight consecutive years of losses.
On a quarterly basis, the Group recorded a revenue of RM10.2 million in 4QFY26, 23.9% higher than RM8.2 million in the preceding quarter (“3QFY26”). In tandem with topline growth, net profit surged 25.4% to RM2.0 million from RM1.6 million in 3QFY26, extending the Group’s quarterly earnings momentum.
As at 30 June 2026, RSSB maintained a healthy financial position with net cash of RM7.7 million.
Executive Director of RSSB, Dato’ Simon David Leong (拿督梁世民) who joined the Board of Directors in October 2025, said, “The team has worked hard to turn around the performance, and we are pleased to deliver a profitable FY26, marking a significant milestone for the Group. It reflects the progress we made in rebuilding our earnings base and establishing a more resilient foundation for future growth. Looking ahead, we enter FY27 with confidence and will continue to advance our property development and construction services.”
To recap, RSSB secured a RM168.1 million Turnkey Construction Contract in July 2026 for Q Centre @ Teratai in Meru, Klang -- a Centralised Labour Quarters (“CLQ”) facility with 9,000 beds. Construction is expected to be completed by June 2028, with the Certificate of Completion and Compliance targeted by December 2028. “Beyond Q Centre @ Teratai, we are also actively pursuing three more CLQ construction projects – all of which are located in prime industrial areas in Klang Valley,” Dato’ Simon added.
Separately, RSSB secured shareholders’ approvals for two proposed acquisitions and one proposed disposal at an Extraordinary General Meeting held earlier today. These comprise the acquisitions of the entire equity interests in Rivertree Landmark Sdn Bhd and Rivertree Signatures Sdn Bhd for an aggregate cash consideration of RM46.3 million, as well as the disposal of the entire equity interest in Irama Setia Sdn Bhd for RM13.0 million in cash. The proposed exercises are related party transactions and were approved by non-interested shareholders, following an independent advice letter from MainStreet Advisers Sdn Bhd.
The proposed acquisitions will add two planned serviced apartment projects in Kuala Lumpur with a combined estimated gross development value of RM654.8 million, while the proposed disposal of a development in Kuala Kubu Bharu will streamline the Group’s portfolio. Proceeds from the proposed disposal shall be used for working capital and funds for property development projects.
About Rivertree STF Synergies Berhad
Listed on the Main Market of Bursa Malaysia, Rivertree STF Synergies Berhad (formerly known as Sinmah Capital Berhad) adopted its current name effective 3 February 2026. Following the disposal of its entire poultry business in 2022, the Group is now principally involved in residential and commercial property development, as well as provision of construction services.
Through its wholly-owned subsidiary, RSSB Builders Sdn Bhd, the Group holds a Grade 7 (G7) contractor licence issued by the Construction Industry Development Board (CIDB), which qualifies it to tender for and undertake construction projects of unlimited contract value. The Group is currently involved in property development projects in Melaka, Johor and Selangor, and is expanding its construction portfolio to include turnkey developments of Centralised Labour Quarters in Klang Valley area.
Bursa stock code: RSSB / 9776
Released on behalf of Rivertree STF Synergies Berhad by Capital Front Investor Relations.
SOURCE: Rivertree STF Synergies Berhad
FOR MORE INFORMATION, PLEASE CONTACT:
Name : Evon Tan
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--BERNAMA