Thursday 28 Mar 2024
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KUALA LUMPUR: MKH Bhd has set an internal sales target of RM850 million for its property development business for the financial year ending Sept 30, 2015 (FY15).

The sales target, albeit amidst a property slowdown, is a 60.79% increment to the group’s FY14 property sales of RM528.63 million.

“This year is indeed a challenging year for us, but we are well-poised to overcome the challenges with our prudent land-banking strategy over the years and flexibility in our product launches,” MKH (fundamental: 1.2; valuation: 2.4) managing director Tan Sri Eddy Chen Lok Loi told the press after the group’s annual general meeting yesterday.

For FY15, Chen said the group’s property sales would mainly be driven by demand for affordable housing, as catered by its HillPark project in Shah Alam, with about RM366 million in gross development value. The project is slated to be launched soon.

“We will also focus more on affordable housing both in Kajang-Semenyih and greater KL for FY15 launches,” he said.

Despite challenges, Chen assures that the group will continue paying dividend in FY15.

“We have been consistently paying dividend to our shareholders since listing and will continue to do so,” he said.

MKH shares closed one sen or 0.35% lower to RM2.88 yesterday, giving it a market capitalisation of RM1.21 billion.

 

This article first appeared in The Edge Financial Daily, on March 6, 2015.

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