KUALA LUMPUR, September 19 – Magma Group Berhad reported revenue of RM7.034 million for Q2 FY2025, up slightly from RM6.988 million in Q2 FY2024, driven mainly by its hospitality segment, while posting a wider loss before tax of RM6.249 million due to one-off expenses tied to corporate exercises and RCN administration fees.
On a quarter-on-quarter basis, revenue rose 11% and losses narrowed 8%, reflecting stronger cost discipline. The Company also advanced key initiatives, including acquiring a strategic RM80 million land parcel in Mont Kiara for mixed commercial development and entering the lifestyle F&B sector through Chagee Magma Sdn Bhd, a joint venture to expand premium tea retail outlets nationwide.
Group MD and CEO Dato’ Sri Thomas Liang Chee Fong said the moves strengthen Magma’s asset base and diversify income streams, positioning the group for sustainable growth as it taps rising tourism and lifestyle demand.
