KUALA LUMPUR (Jan 29): Poultry firm DBE Gurney Resources Bhd has incorporated a wholly-owned unit to enter into the property development business.

In a filing, DBE Gurney said it has incorporated DBE Development Sdn Bhd on Jan 26. “Its intended principal activity is property development,” DBE Gurney said. 

Prior to this announcement, the group has not declared any possible venture into the property business.

The directors in DBE Development includes DBE Gurney directors Datuk Doh Jee Ming who was re-designated as DBE Gurney executive director this month, DBE Gurney managing director Datuk Ding Seng Huat and Datuk Doh Tee Leong.

DBE Gurney’s core poultry business is still ongoing. Last September, the group introduced three products with potential sales worth RM10 million. 

It, however, announced on Dec 29 that a supply contract with KFC Sdn Bhd and QSR Stores Sdn Bhd, which expired on Dec 31, 2017, was not extended.

At 3.25pm, shares of DBE Gurney traded unchanged at 3.5 sen, giving the group a market capitalisation of RM107.13 million.