SHAH ALAM (June 14): JAG Bhd expects revenue to grow by up to 30% this year from a year earlier on more electronic-waste (e-waste) management contracts.

Chairperson and executive director Datin Stacey Tan said JAG had secured 40% more e-waste contracts.

"We have secured 40% more contracts, and we are expecting 25% to 30% growth in revenue this year," Tan said after JAG's annual general meeting (AGM) here today. JAG's current financial year ends on Dec 31, 2017 (FY17).

"We hope to register at least RM100 million in revenue for FY17," she said.

According to JAG's announcement to Bursa Malaysia, FY16 net profit stood at RM2 million versus a net loss of RM19.79 million a year earlier. Revenue was lower at RM82.91 million compared to RM84.79 million.

At the AGM today, Tan said JAG, which recently made its foray into property development, expected to equalise the company's e-waste and property development income contribution. She said the group aimed to launch up to three projects within five years and expand its landbank.

"We will grow the property side and target to eventually have equal contribution from the e-waste and property divisions, which will be the main growth drivers for the company going forward," said Tan.

At Bursa Malaysia, JAG shares settled unchanged at 13.5 sen at 12:30pm for a market value of RM167.4 million.

The stock saw some RM14 million shares traded.