Kota Kinabalu: Suria Capital Holdings Berhad (SuriaGroup) is pleased to announce a strong financial performance for the financial year ended 31 December 2025 (FY2025) following its 43rd Annual General Meeting held on 23 June 2026.
FY2025 marked a significant year for the Group characterised by strong earnings growth, the first full year of operations with global port operator DP World at Sapangar Bay Container Port (SBCP) and the Group’s strategic expansion into the power generation sector.
These developments represent important milestones in SuriaGroup’s continuing evolution into a broader infrastructure group and reinforce its role as a key enabler of Sabah’s economic growth and development.
For the year under review, SuriaGroup recorded revenue of RM277.7 million, representing an increase of 2.5pc compared to RM271.0 million in the previous year.
Profit before tax (PBT) rose by 21.7pc to RM61.4 million from RM50.5 million in FY2024, while profit after tax (PAT) increased by 36.1pc to RM46.1 million compared to RM33.9 million previously.
The improved performance was primarily attributable to stronger contributions from the property development segment, which recorded revenue of RM87.0 million during the year, largely due to higher revenue recognition from the Jesselton Docklands project.
The Group also benefited from contributions from its associate, DPW Sabah Sdn Bhd and lower amortisation charges following the derecognition of concession assets in FY2024.
Earnings per share improved to 13.33 sen from 9.79 sen recorded in the preceding year. In line with the Group’s commitment to delivering sustainable returns to shareholders, the Board approved a total dividend of 3.0 sen per ordinary share, representing a payout ratio of approximately 22.5pc of the Group’s PAT.
Port operations remained the Group’s principal business segment, contributing RM181.9 million or 65.5% of total revenue.
Total cargo throughput recorded by Sabah Ports Sdn Bhd grew to 29.1 million metric tonnes in FY2025 from 28.9 million metric tonnes in the preceding year, while total container throughput increased by 6.1% to 532,391 twenty-foot equivalent units (TEUs) from 501,944 TEUs in FY2024.
Container growth was mainly driven by increased trade activities and higher import and export volumes, particularly at SBCP, which handled 396,694 TEUs during the year, representing an increase of 9.4pc compared to 362,449 TEUs recorded in the previous year.
The increase in throughput reflects the growth of manufacturing and trade activities in Sabah, underpinned by foreign direct investment from companies such as Kibing Group and SK Nexilis, as well as the state’s increasing integration into regional and global supply chains.
The continued increase in cargo volumes has reinforced the importance of ongoing capacity enhancement initiatives and investments in port infrastructure to ensure Sabah Ports Sdn Bhd remains efficient, competitive and well positioned to support future trade growth.
FY2025 marked the first full year of operations under the strategic collaboration between Sabah Ports Sdn Bhd and global port operator DP World through DPW Sabah Sdn Bhd.
The collaboration positions SBCP to attract new shipping services and strengthen Sabah’s connectivity with regional and international markets, while enhancing the state’s role within the Brunei Darussalam-Indonesia-Malaysia-Philippines East ASEAN Growth Area (BIMP-EAGA) and reinforcing its competitiveness as a regional trade and logistics hub.
Construction of the RM900 million expansion of SBCP had reached approximately 60.3% completion as at June 2026. Upon completion, the project will increase berth length from 500 metres to 833 metres and expand the container yard from 15 hectares to 40 hectares, raising annual handling capacity from 500,000 TEUs to 1.25 million TEUs.
The expanded facilities will provide the additional capacity required to support growing trade volumes and enhance operational efficiency. The project is expected to be completed in the 4th quarter of 2027.
The Group also completed construction of the second jetty at Sapangar Bay Oil Terminal during the year, with operational trials commencing in November 2025.
The additional jetty is expected to enhance vessel handling capabilities and improve operational efficiency while supporting increasing marine and energy-related activities.
Meanwhile, the Group strengthened port operational efficiency with the arrival of two electrically powered ship-to-shore quay cranes at Tawau Port in May 2026, which will replace the existing mobile harbour cranes.
Currently undergoing installation and commissioning works, the cranes are expected to commence commercial operations in July 2026. The new equipment will significantly enhance cargo handling productivity while contributing to lower carbon emissions, in line with the Group’s commitment to sustainable and environmentally responsible port development.
SuriaGroup has continued to unlock value from its strategic waterfront landbank through the Jesselton Waterfront City masterplan.
Construction of Q Suites, the first component under Phase 2 of Jesselton Quay, a joint venture development with SBC Corporation Berhad, progressed steadily during the year.
Meanwhile, groundwork for The Bedrock, the inaugural development under the Jesselton Docklands joint venture with BEDI Development, commenced in October 2025, marking another milestone in the transformation of the Kota Kinabalu waterfront.
Envisioned as an integrated tourism, lifestyle and commercial destination, the Jesselton Waterfront City masterplan will incorporate residential, hospitality and commercial components, as well as a permanent ferry terminal and an international cruise terminal, further strengthening Kota Kinabalu’s position as a leading tourism gateway.
In March 2026, the Group’s Jesselton Point Ferry Terminal commenced operations from its new interim location at the South Jetty to facilitate the development of Jesselton Docklands.
The interim facility is expected to operate for approximately five years before being replaced by a permanent ferry terminal under the Jesselton Docklands masterplan.
In line with its strategy to diversify, the Group expanded into the power generation business through its wholly owned subsidiary, SCHB Engineering Services Sdn Bhd.
Together with NRG Consortium (Sabah) Sdn Bhd, a subsidiary of Yayasan Sabah, the Group entered a joint venture to undertake the development, construction and operation of a 100 MW gas-fired peaking power plant in Kimanis, Papar.
In May 2026, the project achieved a significant milestone with the receipt of a Letter of Notification (LON) from the Energy Commission of Sabah, paving the way for its implementation.
The joint venture partners are currently working towards fulfilling the terms and conditions attached to the LON. An Extraordinary General Meeting will be convened to seek shareholders’ approval for the Group’s proposed diversification into the power generation sector.
The proposed power plant will support Sabah’s growing electricity demand, enhance grid reliability and complement the state’s increasing adoption of renewable energy sources, thereby strengthening long-term energy security.
It also represents a strategic milestone in the Group’s efforts to diversify its earnings base and enhance long-term resilience.
With an expected power purchase agreement of approximately 21 years, the project is poised to become a key infrastructure asset that will generate sustainable recurring income while supporting Sabah’s economic growth.
Looking ahead, SuriaGroup remains cautiously optimistic amid an evolving global trade environment, supported by resilient port operations, increasing trade activities and continued progress in its strategic developments.
The Group is in discussions with the Sabah Ports Authority towards finalising the extension of Sabah Ports Sdn Bhd’s concession period by a further 30 years, from 1 September 2034 to 31 August 2064.
Since assuming operations under the current 30-year concession on 1 September 2004, Sabah Ports Sdn Bhd has served as the principal port operator in the state, managing and operating the major seaports along Sabah’s west and east coasts.
In parallel, the review of port tariffs under the Sabah Ports Authority (Scale of Dues and Charges) Regulations 1977 is also expected to reach fruition during this year.
Together, these initiatives are expected to provide greater long-term visibility and facilitate continued reinvestment into critical port infrastructure to support Sabah’s growing trade and maritime activities.
