Malton to launch properties worth RM1.2 bln in Klang Valley

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PETALING JAYA (Nov 20): Malton Bhd's near-term earnings growth will be underpinned by three Klang Valley property launches with a collective gross development value of RM1.2 billion.

Malton Corporate Finance Director Ng Chee Kiet said the launches comprise the "Bukit Jalil City" and residential projects "Nova Pantai" and "Ukay Spring".

"Bukit Jalil City" is undertaken in collaboration with Ho Hup Construction Co Bhd.

"These projects will keep the company busy for the next five years," Ng told reporters after Malton's annual general meeting today.

Malton's financials have improved. Net profit rose to RM15.11 million in the first quarter ended September 30, 2014 from RM4.06 million a year earlier.

Revenue was higher at RM111.59 million versus RM91.11 million.

Malton shares fell one sen or 1% to RM1.04 at 12 noon for a market capitalisation of about RM501 million.