KUALA LUMPUR (Oct 1): Selangor Dredging Bhd (KL:SDRED) is planning a residential development near Bukit Mertajam, Penang, comprising 122 three-storey superlink villas and a clubhouse, according to a press statement issued on Sept 30.

The property developer also reported RM155.78 million in unbilled sales from its ongoing residential projects.

The group recorded a pre-tax loss of RM35.64 million for the financial year ended March 31, 2026 (FY2026), compared with a pre-tax profit of RM29.71 million a year earlier, as revenue dropped to RM173.87 million from RM375.95 million.

Selangor Dredging recorded a net loss of RM41.07 million for the period.

Speaking after the company’s 65th annual general meeting, Selangor Dredging managing director Teh Lip Kim said earlier developments had reached completion, while newer projects were still at an early stage of construction during FY2026.

"Our results reflect the timing of our development cycle. As a boutique developer, the completion of one project and the progress of the next can have a pronounced effect on revenue from year to year," said Teh.

"Our focus is on delivering our current projects well and building the next phase of our pipeline."

The group's ongoing residential projects comprise DaMai in Taman Melawati, Selangor, and Elina Resort Homes @ Senai in Puchong, Selangor.