From left: Bina Puri Holdings Bhd group executive director Datuk Matthew Tee, executive director We Her Ching and group chief financial officer David Lee speaking to the media during a briefing yesterday. - Low Boon Tat/The Star
KUALA LUMPUR: Property and construction outfit Bina Puri Holdings Bhd
aims to launch projects worth about RM500mil next year.
According to group executive director Datuk Matthew Tee, the outlook for the property market remains positive.
“For the financial year ending Dec 31, 2018 (FY18), our total property launches could easily exceed RM500mil,” he said.
Tee said that currently, Bina Puri has ongoing property projects worth RM3.16bil in gross development value, which would sustain the company’s earnings until 2020.
In the first quarter of FY17, Bina Puri’s property business recorded sales of RM40mil.
The company expects its full-year property sales to exceed the RM100mil mark in FY17.
Matthew said Bina Puri hoped to achieve stronger top line contribution from its property development and power supply segments in FY17-FY18.
In FY16, the construction business was the largest contributor to its revenue, with a share of about 81%.
