Meta Bright’s 6M core profit jumps 44% to as building materials segment anchors growth
MAIN Market-listed diversified energy conglomerate, Meta Bright Group Bhd (formerly Eastland Equity Bhd) has delivered broad-based growth across its diversified portfolio in its half-yearly financial results.
Revenue for the group’s 6M FY6/2026 ended Dec 31, 2026 inched up 13.4% year-on-year (yoy) to RM137.96 mil (6M FY6/2025: RM121.62 mil) while its net profit surged 43.5% yoy to RM9.34 mil (6M FY6/2025: RM6.51 mil).
However, one item warrants upfront explanation in that the group recorded a one-off non-cash accounting loss of RM2.3 mil in its 1H FY6/2026 arising from fair value adjustments on deferred consideration following the strategic disposal of a foreign leasing subsidiary.
This item is entirely non-recurring in that the subsidiary has been disposed of and the loss is accounting in nature with no cash impact. Excluding this item, the group’s normalised net earnings stood at approximately RM11.6 mil.
“The first half of FY2026 proves the fundamental strength of our diversified platform,” commented Meta Bright’s executive director (corporate and strategic planning) Derek Phang Kiew Lim.
“While our building materials segment (driven by infrastructure activity in Sabah) continues to provide a stable, high-volume anchor, the break-out performance of our property division and the strong recovery in hospitality have fundamentally elevated our earnings profile. The energy division also steadily registered revenue growth.”
Segmental outcome
According to Phang, the group’s leasing loss in 1H FY6/2026 was a one-off from closing out a foreign subsidiary – non-cash, non-recurring and the right decision to make given the heightened uncertainty global trade environment.
“Crucially, our profitability is backed by hard cash. We improved our operating cash flow by 47% during the period,” he revealed.
“We enter the second half of the year with a healthier balance sheet and a clear focus on disciplined execution across our core infrastructure, hospitality and energy divisions.”
The group’s Building Materials segment performance is supported by the sustained infrastructure and construction activity in Sabah – a market where Meta Bright has established long-standing supply relationships and operational depth.
Near-term visibility remains solid with infrastructure development activity in Sabah continuing to support demand across the 2H FY6/2026 and beyond.
The Hospitality segment delivered steady improvement. Revenue grew 19.4% to RM15.3 mil while segment pre-tax profit spiralled 68.8% to RM3.5 mil supported by higher room occupancy, stronger food and beverage performance as well as increased convention centre bookings at the Grand Renai Hotel.
The Property Development segment contributed a revenue of RM15.0 mil with RM7.5 mil in segment pre-tax profit for 1H FY6/2026 driven by progressive recognition from the Damai Suites development and completed inventory sales.
Meta Bright’s liquidity underscores its earnings quality. Operating cash flow improved 47.3% yoy to RM16.9 mil while total equity strengthened to RM335.5 mil.
At present, cash and bank balances with deposits placed with licensed banks rose by 28.2% to RM53.6 mil. These robust reserves ensure the group remains well-capitalised for on-going expansion. Net gearing remains highly manageable at 31.9%.
Looking ahead, the Meta Bright board remains cautiously optimistic. Infrastructure activity in Sabah provides strong visibility for the building materials segment.
Elsewhere, the Damai Suites project will also contribute progressively. Additionally, the group is advancing its joint venture with ChargeHere EV Solution Sdn Bhd to further develop EV (electric vehicle) charging infrastructure in the Klang Valley. This initiative adds a strategic growth pillar to the energy division.