KUALA LUMPUR (Aug 24): Tiong Nam Logistics Holdings Bhd (KL:TNLOGIS) said it anticipates a “positive performance” from its logistics and warehousing operations in its current fiscal year on increased business, as the net profit for its first quarter tripled on lower other overhead expenses.

Net profit for the three months ended June 30, 2026 (1QFY2027) surged to RM13.41 million from RM3.98 million a year earlier, according to its bourse filing on Monday. Earnings per share rose to 2.54 sen from 0.76 sen.

No dividend was recommended with the latest quarterly results.

Revenue for the quarter rose 13.8% year-on-year to RM268.73 million from RM236.23 million on revenue growth in its core logistics and warehousing services segment, as well as the property development segment. 

The improved bottomline came mainly on lower other overhead expenses of RM9.17 million, as compared with RM23.43 million in 1QFY2026.

Tiong Nam said it anticipates a “positive performance” for its logistics and warehousing services segment in the financial year ending March 31, 2027 (FY2027), driven by increased business from existing and new domestic and multi-national clients.

To meet market demand, the group said it is actively expanding its warehousing capacity, with new facilities expected to contribute as they become operational in stages in FY2027 and onwards.

The property development segment, meanwhile, is expected to perform better from its ongoing residential development in Johor, which it said will help mitigate potential weakness in the dormitory segment.

“Furthermore, the proposed 300-acre high-tech logistics park in Johor, developed via a joint venture with JLand Group, is positioned to leverage anticipated investment within the Johor-Singapore Special Economic Zone,” it added.

Shares of Tiong Nam ended half a sen or 0.63% lower at 79.5 sen on Monday, valuing the company at RM419.62 million.