Iconic Worldwide targets RM150 million revenue in FY2027
Property operations are expected to generate RM120 million, supported mainly by revenue recognition from the Iconic Harmony development in Penang.
Iconic Worldwide Bhd said it remains on course to record revenue of RM150 million in FY2027, with property development expected to be its largest contributor. The financial year ends on June 30, 2027.
Executive chairman Datuk Seri Tan Kean Tet put the property segment’s expected revenue at RM120 million, mainly supported by sales at Iconic Harmony that have yet to be recognised as revenue.
Tan said revenue recognised from the Penang development’s sales amounted to about RM80 million as of FY2026. A further sum exceeding RM200 million is due for recognition during the next two financial years.
Iconic Harmony was launched in April 2024 with an estimated gross development value of RM300 million. Delivery of all units, which are sold out, is anticipated before 2027 ends. The group is working towards launching another Penang development within that timeframe.
Manufacturing operations covering personal protective equipment and babycare products are expected to generate around RM30 million to 40 million. The group projects hospitality revenue of RM10 million from managing hotels and serviced apartments, supported by demand for Iconic Regency, where average occupancy is 80%-90%.
In FY2026, revenue increased 84.8%, reaching RM87.61 million against FY2025’s RM47.4 million. Net profit rose from RM3.15 million to RM9.35 million. The performance was attributed to strong demand for Iconic Harmony.
On Oct 28, Iconic Worldwide shares advanced 4.55%, reaching 11.5 sen and giving the group a market capitalisation of RM194 million.
