KUALA LUMPUR, 20 August 2026 — Magma Group Berhad (“Magma” or the “Group”) recorded revenue of RM6.517 million for the second quarter ended 30 June 2026 (“Q2 FY2026”), an increase of 4.1% from RM6.261 million in the preceding quarter.

The quarter-on-quarter improvement was supported by higher revenue from the Group’s Hotel Operation and Hotel Management businesses. On a year-on-year basis, revenue was lower compared with RM7.034 million recorded in Q2 FY2025.

For the quarter under review, the Main Market-listed hospitality, property and lifestyle group recorded a loss of RM8.571 million due to operating expenses and losses from the Group’s associate during the quarter.

Magma Group Managing Director and Group Chief Executive Officer Dato’ Sri Thomas Liang Chee Fong said the Group remains focused on strengthening its existing businesses while progressing its expansion plans.

“The quarter-on-quarter revenue improvement from our Hotel Operation and Hotel Management businesses is encouraging. We will continue to strengthen our operations while maintaining disciplined cost and capital management,” he said.

Wolo Mont Kiara KL Launched in Q3 FY2026

Magma’s property development segment did not record revenue during Q2 FY2026, as Wolo Hotel & Residences, Mont Kiara KL was scheduled for launch in the third quarter.

The project has since been launched in Q3 FY2026, marking an important milestone in Magma’s expansion into hospitality-led property development. Its contribution to the Group will depend on the progress of development and sales activities.

The 60-storey mixed-use development comprises serviced apartments, serviced suites, a boutique hotel, retail spaces and supporting facilities.

The hotel will be affiliated with Design Hotels™, part of Marriott Bonvoy®, while the residences are recognised by Global Branded Residences (UK) within the emerging Boutique Branded Residences category.

Dato’ Sri Thomas Liang Chee Fong said:

“Wolo extends Magma’s hospitality experience into property development. With the project now launched, our focus is on progressing its development and sales activities as part of the Group’s longer-term strategy,” Dato’ Sri Thomas said.

Outlook

Magma remains cautiously optimistic about its outlook. The Group will continue to improve the performance of its hospitality businesses, progress the development and sales activities for Wolo Mont Kiara KL, and maintain prudent cost and capital management through the second half of FY2026.