HI Mobility Berhad (HI)

HI Mobility Berhad — The JB-Singapore Causeway Cross-Border Transport Specialist

HI Mobility Berhad is not simply a bus company. It occupies a strategically irreplaceable position at the Johor Bahru-Singapore Causeway crossing — one of Southeast Asia's busiest land border corridors. With approximately 59.9% of revenue generated from cross-border Singapore-Malaysia operations, HI Mobility is uniquely exposed to the Greater Johor mega-narrative, including the Johor-Singapore Special Economic Zone (JS-SEZ) and the Rapid Transit System (RTS Link) development.

The company listed on the Bursa Malaysia Main Market on March 28, 2025 at an IPO price of RM1.22 per share. Core operations are conducted through its principal subsidiary, Handal Indah Sdn Bhd, across two business segments:

• Scheduled Bus Services (dominant): Stage bus routes in Johor Bahru and cross-border JB-Singapore Causeway services. This segment accounts for approximately 97% of segment revenue.
• Chartered Bus Services: Corporate and event charters.

Customer Mix

Fleet Overview

HI Mobility operates a fleet of 683 buses, including 53 electric vehicles (EVs) from Foton Motor, with an additional 55 buses on order (10 EV). The commitment to fleet electrification aligns with Malaysia's national policy agenda for public transportation decarbonisation.

Key Corporate Milestones

• ✅ APAD Contract (Apr 2025): RM134.9 million for JB stage bus routes, 2 years to March 2027.
• ✅ Bas Muafakat Johor (Feb 2026): RM78.15 million, intracity JB and Johor city services, 5 years to December 2030 (with a 2-year extension option).
• ✅ Acacia Motor + Handal BCM Acquisitions (Approved March 2026): RM82.53 million via 34.4 million new shares at RM2.40 — transforming HI into an integrated commercial vehicle solutions provider.

Shariah Status

✅ Shariah Compliant — Confirmed on the Securities Commission Malaysia list (Stock Code: 5335). Suitable for investors seeking Islamic-compliant equity exposure.

HI Mobility is an extremely young listed entity — incorporated as Sdn Bhd in June 2024, converted to Berhad in October 2024, and listed in March 2025. This means the public track record is limited, but the growth momentum is compelling.

HI Mobility financial performance - updated 1 Oct 2026

Correction note: the old section carried DAYANG numbers (Q2 FY2026 revenue RM161m and so on). That was not HI Mobility and has been removed. The table below is rebuilt from HI Mobility's own results.

Headline: quarterly revenue jumped from around RM80m to RM111-119m after Acacia Motor and Handal BCM were consolidated from 8 Apr 2026. Net profit rose too, but the net margin slipped to ~15-16% because vehicle distribution carries thinner margins than bus services.

Scheduled bus service revenue rose 8.3% in 2Q FY27 and cross-border passengers surged 17.7% to 6 million, rebounding after Causeway congestion hurt 1Q.

FY26: revenue RM317.7m (+13.5%), net profit RM56.5m (+29%).

HI Mobility dividends

Correction: the old version cited a 7 sen dividend and 9.21% yield. Those were DAYANG's, not HI Mobility's. The actual figures:

• FY26: total 4 sen per share (1 sen each quarter)
• 1Q FY27: first interim dividend 1 sen, paid 3 August 2026
• Dividend yield: ~2.2% at RM1.85

HI Mobility's dividend is small but consistent since listing. It is not an income stock; it is a growth stock with a side dividend.

A 2Q FY27 dividend declaration could not be confirmed from the sources we checked. Check the Bursa announcement.