Sycal Ventures

What Sycal Ventures does

Sycal Ventures Berhad (Bursa Malaysia: SYCAL, stock code 9717) is a Malaysian investment holding company that operates as a vertically integrated construction and property development group through three operating segments. The construction arm, Sycal Berhad (wholly-owned), executes civil, infrastructure, and building works for public and private sector clients and has cumulatively completed RM2.4 billion of projects since 1980, including malls for AEON and Tesco, office towers for Telekom Malaysia, the Pullman KL Bangsar hotel, and the Ipoh Convention Centre for Majlis Bandaraya Ipoh. The property development arm operates through Sycal Properties, Sycal ICC Properties, Sycal Resorts, and Sycal Park, delivering landed, low-rise, and high-rise residential projects alongside mixed-use, resort, and commercial developments across Selangor, Perak, Penang, and Pahang — including Vista Harmoni (RM230 million GDV) and Bukit Gambir (RM124.4 million GDV).

The manufacturing and trading segment is conducted through Sycal Concrete Sdn Bhd (70% owned), which operates seven batching plants and 42 mixer trucks across the Klang Valley, supplying ready-mixed concrete up to Grade 70MPa for both in-house projects and external contractors such as Binastra Construction and IJM. The company earns revenue through construction contracts (one-time project-based fees), property unit sales and project management fees, and volume-based concrete supply contracts, with all distribution handled via direct tenders, sales offices, and direct supply relationships. The Group maintains CIDB certification (2023-2026) and UKAS-accredited QMS compliance as its principal regulatory credentials.

Recent corporate activity has been defensive rather than expansionary: a winding-up order was issued against wholly-owned subsidiary Sycal ICC Properties Sdn Bhd in December 2023 and terminated in October 2024, multiple board and committee changes occurred between 2021 and 2024, and the concrete fleet has contracted from a 70-truck peak to 42 trucks. New entities such as Sycal Skycity, Sycal Kulai, and United Golden Mile Aviation suggest tentative diversification beyond the core perimeter.

Name

Sycal Ventures

Legal name

SYCAL VENTURES BERHAD

Website

https://sycalberhad.com

Company type

Public

Founded year

1980

Operating status

Operating

Headcount range

101–250 employees

Short description

Sycal Ventures Berhad is a Malaysian investment holding company operating through Sycal Berhad (construction), Sycal Properties and affiliates (property development), and Sycal Concrete (ready-mixed concrete manufacturing), serving government, corporate, and retail buyers across Peninsular Malaysia.

Ownership category

akta.pro rank

Product category

Construction & Property Development

NAICS

Commercial and Institutional Building Construction (23622), Corporate, Subsidiary, and Regional Managing Offices (551114)

SIC

General Bldg Contractors - Nonresidential Bldgs (1540), Operative Builders (1531), Land Subdividers & Developers (No Cemeteries) (6552)

akta.pro primary industry

Construction Program Management (Multi-site/Portfolio) (IMAFAAAF)

akta.pro secondary industry

Geotechnical & Subsurface Engineering Consulting (BPAHAIAB)

Keywords

• Construction services
• Property development
• Ready-mixed concrete
• Civil engineering works
• Residential real estate

Headquarters

HQ city

Kuala Lumpur

HQ country

Malaysia

HQ region

Asia

Offices4 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Supply Chain, Marketing or Sales, Others

Revenue model

1. Construction Services: Sycal Berhad, a wholly-owned subsidiary, provides civil, infrastructure and building construction works for both public and private projects. Revenue is earned through construction contracts — one-time project-based fees for building schools, universities, hospitals, commercial malls, hotels, and infrastructure works across Malaysia.
2. Property Development & Management: The Group develops landed, low-rise and high-rise residential units, commercial suites, landmark buildings, universities, hospitals, and commercial malls. It also acts as project manager for key residential and commercial developments. Revenue is generated through property sales (one-time) and project management fees.
3. Manufacturing & Trading — Ready-Mixed Concrete: Sycal Concrete Sdn Bhd (70% owned) manufactures and supplies ready-mixed concrete from 7 batching plant locations across Klang Valley, serving both in-house construction needs and external commercial customers. Revenue is generated from concrete supply contracts — volume-based, recurring relationships with construction companies and project developers.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels3 records

Core offering

Sycal Ventures Berhad is an investment holding company operating through three core business engines: (1) construction services via Sycal Berhad covering earthworks, civil engineering, infrastructure, and building works; (2) property development of residential, commercial, and mixed-use projects across Malaysia through its property subsidiaries (Prima Damai, Selesa Development, Sycal Properties, Pacific Seri Gaya, Bina Puri Properties, Bayumas); and (3) manufacturing and trading of ready-mixed concrete through Sycal Concrete, which operates three batching plants in Johor.

Product overview

Sycal Ventures Berhad operates as an investment holdings company engaged in construction and property development through its three key engines of growth: construction (via Sycal Berhad subsidiary), property development & management (via Sycal Properties, Sycal ICC Properties, Sycal Resorts, and Sycal Park subsidiaries), and manufacturing & trading (via Sycal Concrete producing ready-mixed concrete). The company functions as both a main contractor undertaking civil, infrastructure and building works, and a property developer undertaking residential, commercial, resort and mixed-use developments. Sycal Berhad handles construction projects including educational institutions, hotels, office/commercial buildings, and residential buildings. The property development arm operates across Malaysia with completed projects including Vista Harmoni, Bukit Gambir, Marina Cove Resort, and Ipoh Commercial Centre, while Sycal Concrete supplies ready-mixed concrete from 7 batching plants in Klang Valley. The portfolio is organized around wholly-owned and partially-owned subsidiaries serving specific segments of the construction and property value chain.

Differentiator

Problem solved

Functional benefit

Products and services

• Construction Services (Sycal Berhad) Contractor services for civil engineering, infrastructure, and building works including earthworks, delivered to government and private clients across Malaysia. CIDB G7-registered contractor with over RM2.4 billion in completed project value.
• Property Development Development of residential, commercial, and mixed-use real estate projects in Malaysia (projects include Vista Harmoni Bukit Gambir, Ipoh Commercial Centre, Marina Cove Resort, Sycal Genting Park, Taman Sejati Utama), undertaken through group subsidiaries including Prima Damai, Selesa Development, Sycal Properties, Pacific Seri Gaya, Bina Puri Properties, and Bayumas.
• Ready-Mixed Concrete Supply (Sycal Concrete) Manufacture and sale of ready-mixed concrete via three batching plants in Johor, supplying both the group's own construction projects and external construction firms.

Quantifiable outcome

• Sycal Berhad has completed construction projects worth RM2.4 billion
• +5 more outcomes

Named customers9 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Four partnerships are on record, tiered minor and core.

• Greenridge Commerce Sdn BhdminorStrategic or Co-development PartnerSycal Berhad acted as the design and build contractor for AEON Taiping Mall, a 3-storey shopping mall with gross floor area of 100,000m2 in Taiping, Perak. Owner: Greenridge Commerce Sdn Bhd. Project completed 6 November 2014.
• Central Impression Sdn BhdminorStrategic or Co-development PartnerSycal Berhad was the design and build contractor for AEON Klebang Mall, a 4-storey shopping mall with 100,000m2 gross floor area on 14 acres of mixed development land in Klebang Perdana, Perak. Owner: Central Impression Sdn Bhd. Project completed 27 August 2015.
• SYC Capital Sdn BhdminorStrategic or Co-development PartnerSycal Berhad constructed the Pullman KL Bangsar hotel — a 26-storey, 514-room 5-star Business Class Resort Hotel Complex with gross floor area of 55,000m2 in Bangsar, Kuala Lumpur. Owner: SYC Capital Sdn Bhd. Completed 27 September 2013.
• Majlis Bandaraya IpohcoreStrategic or Co-development PartnerSycal Berhad constructed the Ipoh Convention Centre — a 5-storey convention centre comprising exhibition hall, meeting rooms, and grand ballroom at Greentown, Ipoh for Majlis Bandaraya Ipoh. The company is also the property manager for the Ipoh Convention Centre. Completed 27 July 2017.

Scale indicators6 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Gamuda Berhad: Large Malaysian construction and infrastructure group with civil engineering, building construction, and property development divisions — directly comparable to Sycal's construction + property dual-engine model, though at significantly larger scale.
• Sunway Construction Group Berhad: Pure-play Malaysian construction group covering building, civil, infrastructure, and foundation works — directly comparable to Sycal Berhad's construction portfolio and one of the most active bidders in Sycal's addressable tender market.
• Muhibbah Engineering (M) Bhd: Malaysian conglomerate with construction, civil engineering, and infrastructure capabilities — comparable construction footprint and historical reference for Sycal's Group MD (Favelle Favco is a Muhibbah subsidiary, and director Hamzarul Hazmir Bin Hamdan previously served there).
• IJM Corporation Berhad: Diversified Malaysian construction and property developer. IJM is explicitly cited as a past concrete customer of Sycal Concrete (Midvalley Mega Mall) and competes directly for the same civil, infrastructure, and building construction tenders across Malaysia.
• WCT Holdings Berhad: Malaysian construction and property developer engaged in civil/infrastructure works, building construction, and mixed-use property development — overlapping with Sycal's three-engine structure.
• Binastra Construction (M) Sdn Bhd: Malaysian construction contractor and a documented Sycal Concrete customer (100,000+ m3 supplied for Central Park Damansara, Taman Bukit Bandaraya, and PRIMA Pangsapuri). Operates in the same building construction space as Sycal Berhad.

Broad incumbents

• UEM Sunrise Berhad: Major Malaysian property developer with residential, commercial, and integrated mixed-use developments — comparable in product type to Sycal's property development arm, particularly in central and southern Malaysia.
• Eco World Development Berhad: Malaysian property developer with township, residential, and integrated commercial developments — competing with Sycal Properties for end-user demand in Klang Valley and other Malaysian growth corridors.
• SP Setia Berhad: One of Malaysia's largest property developers spanning residential, commercial, and mixed-use developments — competes for landbank and end-buyer demand in Sycal's residential/mixed-use pipeline, though at much larger scale and broader geographic reach.

Emerging players

• Hume Cement Industries Berhad: Malaysian cement and concrete producer competing for the same Klang Valley ready-mixed concrete demand — partially overlapping with Sycal Concrete's customer base of construction companies in the same geography.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/SycalVenturesBerhad

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries13 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Sycal Ventures