Glomac
Glomac is a Malaysia-based, publicly listed property developer (klse:GLOMAC) founded in 1988, headquartered in Kuala Lumpur, focused on residential and commercial real estate development for the domestic market.
- Company typePrivate
- Founded1988
- HeadquartersKuala Lumpur, Malaysia
- Headcount501–1,000
- GTM typeB2B and B2C
- OfferingServices
What Glomac does
Glomac is a Malaysia-based property development and real estate company founded in 1988 and headquartered in Kuala Lumpur. It operates as a publicly listed entity on Bursa Malaysia under the ticker klse:GLOMAC, with a workforce in the 501-1000 employee range. The group is led by two founders, Datuk Richard Fong Loong Tuck (Founder & Group Executive Vice-Chairman) and Tan Sri Dato' Mohamed Mansor bin Fateh Din (Founder & Group Executive Chairman), indicating a founder-controlled governance structure that has persisted across the company's 37-year operating history.
The company's business is the development and sale/lease of residential and commercial real estate in Malaysia, monetizing through project-based land development, unit sales, and related property activities typical of a mid-cap Malaysian developer. Reported financials show revenue, gross profit, EBITDA, operating income, and net income all trending downward from 2021 through 2025, with EBITDA declining and net income falling to the lowest level in the disclosed five-year window by 2025. Enterprise value has also compressed meaningfully across the same period.
The underlying revenue mechanics are project-cycle driven: recognized revenue depends on construction completion, handover, and unit absorption in the Malaysian property market, with no disclosed technology platform, software product, or recurring SaaS-style revenue component. No AI/ML capabilities, proprietary technology, partnerships, M&A activity, or named anchor customers are documented in the available input data, limiting visibility into forward strategy beyond the existing Malaysian development pipeline.
Glomac firmographics
Firmographics- Name
- Glomac
- Website
- https://glomac.com.my
- Company type
- Private
- Founded year
- 1988
- Operating status
- Operating
- Headcount range
- 501–1,000 employees
- Short description
- Glomac is a Malaysia-based, publicly listed property developer (klse:GLOMAC) founded in 1988, headquartered in Kuala Lumpur, focused on residential and commercial real estate development for the domestic market.
- Ownership category
- akta.pro rank
Glomac industry classification
Industry- Product category
- Real Estate Development
- NAICS
- New Housing For-Sale Builders (236117), New Multifamily Housing Construction (except For-Sale Builders) (236116)
- SIC
- Land Subdividers & Developers (No Cemeteries) (6552), General Bldg Contractors - Residential Bldgs (1520), General Bldg Contractors - Nonresidential Bldgs (1540)
- akta.pro primary industry
- Residential General Contracting (New Build) (IMAFAAAB)
- akta.pro secondary industry
- Commercial General Contracting (New Build) (IMAFAAAA)
Keywords
Where Glomac is headquartered
LocationHeadquarters
- HQ city
- Kuala Lumpur
- HQ country
- Malaysia
- HQ region
- Asia
Offices1 record
Markets served
Glomac business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Supply Chain, Operations, Personnel, Marketing or Sales, Infrastructure
Glomac product offering
Product offeringCore offering
Glomac is a Malaysian property development and real estate company that develops, markets, and sells residential and commercial properties. The company undertakes the planning, construction, and sale of landed homes, condominiums, and mixed-use developments primarily in Malaysia, targeting both individual homebuyers and commercial buyers.
Differentiator
Problem solved
Functional benefit
Products and services
- Residential Property Development Development of landed houses, condominiums, and housing schemes sold to individual homebuyers in Malaysia.
- Commercial Property Development Development of commercial buildings and mixed-use real estate projects sold or leased to commercial buyers and investors.
Companies that use Glomac
Customer profileIdeal customer profiles2 records
Glomac technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Glomac partnerships and signals
Strategic signalRecent moves1 record
Expansion highlights2 records
Glomac competitors and assessment
Company assessmentDirect peers
- Mah Sing Group Berhad: Mid-sized Malaysian developer focused on residential properties in Klang Valley and key growth corridors. Direct competitor to Glomac in the mid-market residential segment.
- UEM Sunrise Berhad: Malaysian property developer listed on Bursa, with major projects in Johor and the Klang Valley. Comparable to Glomac in residential and mixed-use focus and public-company structure.
- Eco World Development Group Berhad: Malaysian-listed developer of townships and residential/commercial projects, particularly in Klang Valley and Iskandar Malaysia. Comparable in scale and product offering to Glomac.
- IOI Properties Group Berhad: Malaysian-listed developer of residential, commercial, and mixed-use properties, including townships in Klang Valley and Johor. Closely comparable to Glomac in product mix and scale.
- Sime Darby Property Berhad: Large Malaysian property developer listed on Bursa Malaysia, developing townships, residential, and commercial projects across the country. Directly comparable to Glomac in business model, customer base, and regulatory environment.
- Matrix Concepts Holdings Berhad: Malaysian-listed developer of townships in Negeri Sembilan and other states, focused on affordable and mid-market housing. Comparable to Glomac in target buyer segment and project type.
- IGB Berhad: Malaysian-listed real estate company with both property development and investment/REIT arms. Comparable to Glomac in development activities and Malaysian listing status.
- OSK Holdings Berhad: Malaysian-listed conglomerate with property development operations alongside construction and financial services. Comparable to Glomac in Malaysian property development focus.
- SP Setia Berhad: One of Malaysia's largest listed developers, focused on integrated townships and residential developments. Comparable to Glomac in project type, geographic footprint, and target buyer segment.
Broad incumbents
- Sunway Berhad: Diversified Malaysian conglomerate with significant property development arm (Sunway City). Overlaps with Glomac in residential and mixed-use development but operates at much larger scale across construction, healthcare, and hospitality.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat2 records
Key risks5 records
Key highlights6 records
Customer concentration
Glomac financial estimates
Financial estimateRevenue estimate
Valuation estimate
Glomac leadership team
Management profileNumber of profiles
Profiles2 records
Glomac funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Glomac M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Glomac
What does Glomac do?
Glomac is a Malaysian property development and real estate company that develops, markets, and sells residential and commercial properties. The company undertakes the planning, construction, and sale of landed homes, condominiums, and mixed-use developments primarily in Malaysia, targeting both individual homebuyers and commercial buyers.
When was Glomac founded?
Glomac was founded in 1988. It employs 501 to 1,000 people.
Where is Glomac based?
Glomac is headquartered in Kuala Lumpur, Malaysia, in the Asia region.
Who are Glomac's main competitors?
Direct peers on record are Mah Sing Group Berhad, UEM Sunrise Berhad, Eco World Development Group Berhad, IOI Properties Group Berhad, Sime Darby Property Berhad, Matrix Concepts Holdings Berhad, IGB Berhad, OSK Holdings Berhad and SP Setia Berhad. Sunway Berhad is listed as a broad incumbent.
Does Glomac have an API?
No public API is recorded for Glomac.
What industry is Glomac in?
Glomac's product category is Real Estate Development. Its primary akta.pro industry code is IMAFAAAB, Residential General Contracting (New Build), with a secondary code of IMAFAAAA, Commercial General Contracting (New Build). Its NAICS code is 236117 and its SIC code is 6552.