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New Straits Times
08-07-2025
- Business
- New Straits Times
I-Berhad goes big on AI, robotics to make i-City a smart living hub
KUALA LUMPUR: I-Berhad, the developer of Malaysia's flagship digital township i-City, is doubling down on its boldest vision yet, embedding artificial intelligence (AI) and robotics into every layer of its operations, customer experience, and commercial ecosystem to cement i-City's position as the country's capital for smart urban living. Far beyond typical digital upgrades, I-Berhad's next phase sees AI and robotics not just as tools for efficiency or novelty but as the very operating system that will shape how i-City works and grows. "This isn't about putting a single robot in a lobby. It's about building a city that learns, responds, and delivers," said Tan Sri Lim Kim Hong, chairman of I-Berhad, adding that technology has always been part of i-City's DNA, not just a branding tagline. He pointed out that the strategy revolves around three key pillars: transforming internal operations, reimagining customer offerings, and positioning i-City as Malaysia's national hub for AI and robotics business. Within its operations, I-Berhad is already deploying AI to gain sharper insights across property and hospitality assets, from predictive maintenance and automated guest services to data-driven cost optimisation and real-time analytics to boost efficiency and service quality. Robotics pilots have begun as well, with service robots, including robot chefs at Wyndham Suites KLCC, being trialled to automate food and beverage operations, Lim said. "But the group's biggest bet is to bring robots into everyday living for residents and tenants. I-Berhad is exploring "kitchen packages" for new homes that could one day come with robot chefs, just like fridges and cookers today." Lim said that plans are also underway for delivery robots to bring food from local outlets directly to residents, all orchestrated via the i-City AI agent SuperApp, the township's integrated AI assistant. "It's just like when we bundled fibre broadband into homes two decades ago. It makes properties stickier and life more convenient," Lim told Business Times. Another major push is to transform i-City into Malaysia's national centre for AI and robotics commerce. Taking inspiration from Kuala Lumpur's iconic Low Yat Plaza, long known as the country's IT retail hub, I-Berhad wants to attract robotics retailers, startups, and global tech brands to anchor their presence in i-City's retail spaces. A new Request for Proposals (RFP) has been launched to invite partners in four key areas: retail showcases, education partnerships, SuperApp integration, and live deployments in theme parks and public spaces. "The goal is to make i-City a springboard for AI and robotics players eyeing the Asean market, using our annual footfall of over 10 million visitors as a test bed to showcase and refine new products," said I-Berhad director Datuk Eu Hong Chew. He added that the RFP is part of the group's broader strategy to reinvent its RM1 billion asset base in i-City, shifting from a traditional developer into a platform that integrates, showcases, and monetises AI and robotics. "We have three big strategic goals for AI and robotics," Eu said. "First, we're transforming internal operations — using AI for smarter decision-making, predictive maintenance, customer service, and financial analytics across our hospitality and property portfolio. "Second, we're using AI and robots to elevate what we offer our customers. Think of robot chefs bundled into kitchen packages for new homes, delivery bots serving residents, or concierge and security robots, all managed through our SuperApp." The third goal, EU explained, is to make AI and robotics a commercial pillar for the company. "We're turning i-City into Malaysia's 'Low Yat Plaza for robotics', clustering robotics retailers, education labs, startups, and B2B showcases in one ecosystem. The RFP invites partners to help us build this ecosystem and position i-City as a regional launchpad for global tech brands wanting Asean entry," he said. "AI and robotics are still evolving, so the RFP is our corporate way of casting a wide net to bring in the best partners and ideas. The other approach comes from Lim's early legacy. He was Malaysia's earliest investor in China in the 1980s and he is now building on his ties to translate into strategic alliances with China-centric AI and robotics players," Eu added. Beyond traditional development, Eu said I-Berhad is also focused on maximising the value of its land by turning i-City into a "living lab" for Malaysian universities, startups, and researchers to run real-world AI and robotics trials, supported by i-City's existing visitor base and infrastructure.
New Straits Times
26-06-2025
- Business
- New Straits Times
I-Berhad commits RM10mil for i-City smart city push
SHAH ALAM: I-Berhad has allocated RM10 million for the rollout of intelligent infrastructure pilot projects across i-City, reinforcing its commitment to smart city development as part of its broader transition into a technology-driven urban platform. The latest initiative underscores the company's focus on embedding artificial intelligence and robotics into the core of i-City's ecosystem, transforming it into a truly tech-enabled intelligent city. In a statement, I-Berhad said these technologies will be integrated into building management systems, tenant services, and community engagement platforms, aimed at boosting automation, operational efficiency, and personalised urban experiences. "Our growth journey has always been grounded in bold vision and forward planning," said chairman Tan Sri Lim Kim Hong. "i-City was built two decades ago as Malaysia's first digital city with fibre-to-home broadband and smart infrastructure. Today, we are ready to write the next chapter by elevating i-City into an intelligent, adaptive urban ecosystem." With a strong recurring income base, sustained earnings growth, and an expanding digital infrastructure, I-Berhad is positioning i-City as a tech-centric urban hub that appeals to businesses, residents, and digital tourists, while enhancing overall property values within the development. The group delivered a robust financial performance in 2024, with revenue climbing 27 per cent year on year. Profit attributable to shareholders rose 143 per cent to RM29.2 million, up from RM12 million in 2023, a testament to the group's solid fundamentals and evolving business model. This growth trajectory continued into the first quarter of 2025 (Q1 2025), with revenue surging 53 per cent and net profit attributable to shareholders jumping 144 per cent year-on-year. All three of I-Berhad's core segments, property development, property investment, and leisure and hospitality, contributed meaningfully to earnings, reinforcing the strength of its diversified operations. According to Lim, these results reflect I-Berhad's successful pivot from a conventional property developer to a future-ready platform focused on long-term value creation through asset optimisation, digital transformation, and stable recurring income. The group's digital initiatives are designed to be self-sustaining, with monetisation driven by SuperApp service revenues, enhanced leasing from value-added property solutions, and cost savings through predictive maintenance and automation, he said. Lim said that by placing technology at the core of its business model, I-Berhad is strategically positioned at the intersection of real estate, digital innovation, and recurring income, unlocking scalable growth and new value creation opportunities. "With a technology-forward model and recurring income focus, I-Bhd is well-positioned to create long-term shareholder value," said Lim.
The Star
08-05-2025
- Business
- The Star
Trading ideas: Pavilion REIT, Capital A, Pharmaniaga, Marine & General, SCRB, SD Guthrie, I-Bhd
KUALA LUMPUR: Here is a recap of the announcements that made headlines in Corporate Malaysia. Pavilion REIT has secured unitholders' approval to acquire Banyan Tree and Pavilion Hotel KL for RM480m, reducing Pavilion Mall's portfolio weight to 58.5% Capital A received 99.99% shareholder approval for its PN17 regularisation plan, marking a key step to address financial distress. Pharmaniaga 's 1QFY12/25 net profit increased 15.3% YoY to RM29.6m, thanks to higher sales and cost optimisation efforts, which resulted in a 2.5% reduction in operating expenses. Marine & General is forming a joint venture with WHS Global Engineering to expand into oil and gas engineering. Supreme Consolidated Resources plans to acquire 14,690 sq metres of land in Kuching for RM5.6m to build a new warehousing and cold storage facility. SD Guthrie Bhd, formerly known as Sime Darby Plantation Bhd , delivered a strong first-quarter (1QFY25) result on the back of improved contribution from the upstream segment. I-Bhd executive chairman Tan Sri Lim Kim Hong in delivering the group's report for the first-quarter of 2025 (1QFY25), said the company's strong start reflects its evolution into a more balanced, asset-driven business.
The Star
07-05-2025
- Business
- The Star
I-Bhd quarterly net profit soars 140% to RM10mil
From left: Wyndham Hotels & Resorts APAC President Joon Aun Ooi, Wyndham Hotels & Resorts CEO Geoffrey Ballotti and I-Bhd executive chairman Tan Sri Lim Kim Hong at the signing ceremony to rebrand Best Western Hotel to Wyndham Garden i-City KUALA LUMPUR: I-Bhd executive chairman Tan Sri Lim Kim Hong in delivering the group's report for the first quarter of financial year 2025 (1Q25) said the company's strong start reflects its evolution into a more balanced, asset-driven business. Accordingly, the group's performance was underpinned by steady contributions from three core business segments – property development, property investment, and leisure and hospitality. 'Over the past year, we've restructured our growth engine to ensure we create an ecosystem that generates recurring income across our existing assets. 'The performance we are seeing today shows that our strategy is working – our earnings are broad-based, resilient and supported by both recurring income and market-responsive development,' Lim said in a statement. During 1Q25 ended March 31, 2025, I-Bhd posted a net profit of RM9.96mil, which was about 140% more than RM4.07mil in the year-ago quarter. Quarterly earnings per share jumped to 0.54 sen from 0.22 sen previously, while revenue came to RM62.06mil, up from RM40.63mil in 1Q24. The company's leading revenue contributor – leisure and hospitality – registered RM26.4mil in quarterly revenue and pre-tax profit of RM2.97mil.
The Sun
07-05-2025
- Business
- The Sun
I-Berhad kicks off FY25 with 150% surge in Q1 earnings
PETALING JAYA: I-Berhad posted a strong start to FY25, reporting a significant 150% year-on-year surge in profit before tax (PBT), reaching to RM12.36 million, alongside a 53% rise in revenue to RM62.06 million for the first quarter ended March 31, 2025. The performance was driven by steady contributions from the group's three core business segments – property development, property investment, and leisure and hospitality. The group's results validate its strategic pivot over the past year towards building a more resilient and sustainable asset-backed business model – an approach increasingly relevant in a volatile global environment marked with the rising importance of stable cash flows. Leisure and hospitality generated RM26.4 million in revenue during the quarter, remaining the group's leading revenue segment. The newly rebranded Wyndham Garden i-City (formerly Best Western Hotel) recorded healthy occupancy in its first full quarter of operations, contributing alongside DoubleTree by Hilton i-City and Wyndham Suites KLCC. I-Berhad in a statement said that these assets continue to underpin the company's strategy of yield optimisation and premiumisation within its hospitality portfolio. The property development segment recorded a turnaround, posting RM28.36 million in revenue and RM4.62 million in PBT, compared to a loss of RM2.23 million in the same period last year. This was driven by sustained demand for units at BeCentral, as well as a soon-to-be-launched branded residence within i-City Finance Avenue. As at March 31, 2025, unbilled sales stood at RM89.2 million, providing earnings visibility into the quarters ahead. Executive chairman Tan Sri Lim Kim Hong said the results reflected the company's evolution into a more balanced, asset-driven business. 'Over the past year, we've restructured our growth engine to ensure we create an ecosystem that generates recurring income across our existing assets. The performance we are seeing today shows that our strategy is working – our earnings are broad-based, resilient, and supported by both recurring income and market-responsive development,' he added. The property investment segment contributed RM6.66 million in revenue and RM5.28 million in PBT – a 42% increase from the previous year. High occupancy levels at Mercu Maybank Premium Corporate Tower and Central i-City Mall, together with active rental management strategies, helped anchor this recurring income stream. The leisure and hospitality segment's PBT eased to RM2.97 million from RM4.16 million a year ago, mainly due to Ramadan seasonality and initial costs from new offerings. The group expects a stronger second quarter, supported by school holiday tourism and yield optimisation, especially with Visit Selangor 2025 and Visit Malaysia 2026 gaining momentum. Lim said that the group's diversified income sources place it in a strong position to manage changing market cycles. 'We are focused on quality over speed. Each business vertical plays a specific role – some offer growth, others provide stability. This balance allows us to reinvest selectively and protect long-term value.' Looking ahead, I-Berhad will focus on phased development, operational efficiency, and strengthening its commercial leasing. With RM5 billion in remaining GDV at i-City, the group will time future launches to maximise value and align with market conditions. 'With a stabilised earnings base and significant GDV held in reserve, we are entering a new phase – one where disciplined execution, yield optimisation, and long-term ecosystem value will define our performance. We are building more than just structures but a destination, while we are curating experiences, enabling connectivity, and cultivating a future-forward lifestyle hub,' Lim said.
