Contributed by the revenue growth from scheduled bus services segment of 38.3%
KUALA LUMPUR, 26 March 2025 – HI Mobility Berhad (“HI Mobility” or “Company”), an established cross-border, intracity and intercity bus services provider, today announced its financial results for the fourth quarter (“Q4FYE2025”) and full year ended 31 January 2025 (“FYE2025”), demonstrating improvements in its revenue and profitability as it progresses towards its listing on the Main Market of Bursa Malaysia Securities Berhad on 28 March 2025.
For Q4FYE2025, HI Mobility reported a profit before tax (“PBT”) and profit after tax (“PAT”) of RM13.0 million and RM10.1 million respectively, on the back of a revenue of RM75.6 million. The revenue was primarily driven by the scheduled bus services segment derived from fare-paying public passengers from Malaysia and Singapore, including the contracted intracity bus services from the Malaysian government bodies.
For the full year FYE2025, revenue rose by 34.7% to RM279.8 million, compared to RM207.7 million in the previous year. The increase in revenue was predominantly driven by the revenue growth from scheduled bus services segment, which increased by 38.3%, and contributed RM263.6 million to the total revenue for the FYE2025. The scheduled bus services segment remained the primary revenue driver, contributing 94.2% of the revenue, followed by the chartered bus services segment at 5.0%. The remaining 0.8% came from the ‘other services’ segment comprising the provision of bus repair and maintenance services and advertising space. The PBT in turn was up by 11.8% to RM50.5 million, from RM45.1 million in FYE2024. PAT increased by 31.9% to RM43.8 million, compared to RM33.2 million in FYE2024. The initial public offering price of RM1.22 per share corresponds to a price-to-earnings ratio of 13.9 times for HI Mobility, based on the earnings per share for the FYE2025.
Commenting on the results, HI Mobility Executive Director and Chief Executive Officer Lim Chern Chuen said, “As we move towards our listing on the Main Market of Bursa Securities, we are delighted to announce our full year results with an improvement of 31.9% from last year’s profitability. Going forward, we are excited about the opportunities that lie ahead. We will continue to capitalise on our core competencies, along with all our strategies in place to propel the company to greater heights.”
He further added, “Sustainability is at the core of HI Mobility’s key focus, and we are dedicated to integrating environmentally responsible practices throughout every aspect of our operations. As part of our long-term growth strategy and commitment to environmental stewardship, we are not only actively expanding our fleet to include electric buses but also upgrading our depot facilities by installing more EV charging stations. These efforts will ensure seamless operations as our electric bus fleet grows, reinforcing our support for Malaysia’s green mobility agenda and contributing to a cleaner, more sustainable public transportation eco-system.”
About HI Mobility Berhad
HI Mobility Berhad (“HI Mobility”) was incorporated in Malaysia on 12 June 2024 as a private limited company under the name of HI Mobility Sdn Bhd. On 24 October 2024, HI Mobility was converted into a public limited company where it assumed its present name.
HI Mobility and its wholly owned subsidiary, Handal Indah Sdn Bhd (“Handal Indah”) (collectively, the “Group”), are principally involved in the provision of bus transportation services.
Handal Indah commenced its operations in 2002 as a provider of intracity bus services within Johor Bahru, Johor. In 2003, the Johor Bahru – Singapore cross-border bus services were launched, operating under the brand name ‘Causeway Link’. Since then, the Group has expanded its geographical coverage to include Klang Valley and Malacca. The Group operates within the mass transit sector, providing both cross-border and local bus services. As part of its initiative to green mobility for environmental sustainability, the Group has gradually deployed electric buses for its operations since 2023. As at 7 February 2025, the Group owns a fleet of 683 buses, of which 53 are electric buses.
For more information, please visit https://www.causewaylink.com.my
Issued by Imej Jiwa Sdn Bhd on behalf of HI Mobility Berhad
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