OCR Group Berhad Recognised for Excellence in Urban Property Development

OCR Group Berhad has achieved yet another milestone by securing the prestigious China ASEAN Master Class Award 2024 under the category of “Leading in Innovative Urban Property Development Excellence”. This recognition highlights the Group’s commitment to pushing boundaries in property development, leveraging its innovative approach to urban solutions.

The award will be presented during the China ASEAN Master Class Award & Gala Dinner, which is set to take place on 7 December 2024 at the JW Marriott Marquis Hotel, Pudong, Shanghai.

This accolade comes at a time when OCR is making significant strides in the real estate sector, supported by its strong financial performance and strategic developments. For the first nine months of FY2024, OCR reported a 69.8% increase in pre-tax profit, reaching RM3.27 million, driven by effective cost management and project optimisation. Despite challenges, the Group demonstrated resilience, achieving RM9.9 million in revenue for the third quarter of FY2024 while improving gross profit margins.

OCR’s dedication to meeting market demands was further evidenced by the launch of Residensi Akasia, a project under the Rumah Selangorku initiative, with a gross development value of RM287.1 million.

This project underscores OCR’s commitment to delivering affordable housing solutions while aligning with government initiatives to enhance homeownership accessibility.

The Group has also bolstered its financial position by raising RM46.8 million through a successful rights issue with warrants. The proceeds are earmarked for strengthening its balance sheet, supporting ongoing projects, and pursuing future growth opportunities. These developments highlight OCR’s strategic focus on sustainable growth and its readiness to seize emerging opportunities in the property market.

Receiving the China ASEAN Master Class Award 2024 is a testament to OCR’s innovative vision and ability to lead in the competitive urban property development landscape. With this recognition, coupled with its ongoing projects and financial resilience, OCR is well-positioned to set new benchmarks in Malaysia’s real estate industry while delivering value to stakeholders.