KUALA LUMPUR (Feb 27): Suria Capital Holdings Bhd (KL:SURIA) returned to profit in the fourth quarter ended Dec 31, 2025 (4QFY2025), as revenue recognition from its Jesselton Docklands waterfront development gathered pace.

The Sabah-based port operator, which manages eight ports in the state, posted a net profit of RM3.39 million in 4QFY2025 versus a net loss of RM12.88 million a year earlier. Earnings per share stood at 0.98 sen compared with a loss per share of 3.72 sen previously.

Revenue for the quarter rose 33.2% to RM62.21 million from RM46.71 million, driven mainly by construction services income from port infrastructure upgrading and expansion works, a bourse filing showed.

On a quarter-on-quarter basis, however, net profit fell 83.3% from RM20.33 million, which the group attributed to higher property development revenue recognised in the preceding quarter.

Suria proposed an interim dividend of 1.5 sen per share for the financial year ended Dec 31, 2025 (FY2025), unchanged from a year earlier.

For the full year, net profit increased 37.4% to RM46.53 million from RM33.87 million in FY2024, while revenue edged up 2.5% to RM277.77 million from RM271.03 million.

The group said it remains cautiously optimistic, supported by stable contributions from its core port operations and progressive earnings from its property development segment.

It said port operations would continue to underpin earnings, backed by its role as Sabah’s main port concessionaire and its collaboration with DP World Sabah Sdn Bhd, which allows it to participate in container-related activities via equity accounting.

The group added that revenue recognition following the unconditional status of joint development agreement 1 (JDA1) for the Jesselton Docklands project marks progress in its waterfront redevelopment, alongside projects such as Jesselton Quay and the wider Jesselton Waterfront City.

Suria also expects improved performance from its ferry terminal operations following the planned relocation to an interim terminal at the South Jetty by the end of the first quarter of 2026. In addition, its proposed 100-megawatt gas peaking plant in Kimanis, Sabah is expected to provide recurring income, subject to regulatory approvals and financing.

Shares in Suria were untraded on Friday. It last closed at RM1.52 on Thursday, giving it a market capitalisation of RM525.65 million. The stock has fallen 9.5% over the past 12 months.