Exsim Hospitality Bhd, through Exsim Concepto Sdn Bhd, has secured two contracts worth approximately RM107 million in October 2024 owing to its diversification into fit-out and interior design business.

In a Bursa filing dated Nov 27, the group said the fit-out contracts will contribute positively to the group's overall revenue and profitability in the upcoming quarters in FY2024/251 and it expects to secure more fit-out and interior design contracts in the following financial years2.

In October 2024, Exsim Concepto Sdn Bhd accepted the letter of award by Discovery Media Sdn Bhd for a 24-month sub-contract valued at RM47.37 million3 for the development of 560 units and other relevant facilities in Damansara Perdana, including supplying, fabricating, delivery and installing of interior design fit-out works.

Also in October 2024, Exsim Concepto received the letter of award by Totalbuildz Sdn Bhd for an 18-month sub-contract worth RM60.0 million4 for the development of 294 rooms at Empire City in Damansara Perdana that includes designing and building, interior design and fit-out works to guest rooms.

In addition, the group is actively seeking out more managed properties contracts by the end of the financial year, after bagging 195 managed properties contracts in the first quarter of FY2024/25 ended 30 September 2024.

As for the hotel segment, the renovation works for Corus Paradise Resort is expected to improve profitability arising from increase in occupancy rates as well as providing new ancillary services such as new food and beverage services within the resort.

Exsim's first quarter revenue amounted to RM2,274,000, increasing by 68.95% year-on-year from RM1,346,000 in the previous financial year. The net loss for the quarter under review was narrowed to RM230,000, from net loss of RM848,000 recorded in the corresponding quarter last financial year.

1. FY2024/25: Financial year ending 30 June 2025 ︎
2. Exsim Hospitality Bhd's financial year ends 30 June ︎
3. RM47,369,322 ︎
4. RM60,000,000 ︎