KUALA LUMPUR (Dec 2): Geohan Corp Bhd, which is slated to debut on the Main Market of Bursa Malaysia on Dec 5, has reported a net profit of RM2.07 million and revenue of RM91.17 million for the third quarter.
No comparative figures were provided as this is the group’s first interim financial report ahead of its listing.
The foundation and geotechnical group said 93.54% of the revenue for the quarter ended Sept 30, 2025 (3QFY2025) came from its core foundation and geotechnical services segment, while the remaining 6.46% was contributed by other related services.
The bulk of the revenue was derived from residential, mixed development and commercial construction projects, the group added in its bourse filing on Tuesday.
For the first nine months of FY2025, Geohan posted a net profit of RM10.2 million on RM263.07 million in revenue.
“With steady project execution and strong order book, we remain cautiously optimistic that Geohan is well-positioned to maintain its positive trajectory and capitalise on future opportunities to drive continued growth,” said Geohan managing director Lee Kim Seng in a statement.
As at end-September, Geohan had cash and bank balances of RM34.25 million and a healthy net gearing ratio of 0.51 times.
Founded in 1996, Geohan specialises in foundation and geotechnical works, including piling, slope stabilisation and sub-structure services. Its portfolio includes major projects such as Genting Highlands’ First World Hotel and infrastructure works for the Klang Valley mass rapid transit.
The retail portion of its initial public offering (IPO) was oversubscribed by 7.78 times. The IPO entails the issuance of 132 million new shares at 55 sen apiece, raising up to RM72.6 million. There is no offer for sale by existing shareholders.
Upon listing, Geohan will have a market capitalisation of RM242 million.
More than half of the IPO proceeds will be used to expand its machinery fleet — including rotary boring rigs, crawler cranes and excavators — to boost operating capacity, particularly as it grows its customer base in Singapore. Another 35% has been allocated for working capital, with the balance to defray listing expenses.