27 November 2014

MK Land expects 1,600ha landbank in Perak to drive growth

  27 November 2014

PETALING JAYA: MK Land Holdings Bhd says its 1,600ha landbank in Perak, which has a gross development value potential of over RM2.8 billion, will drive the company’s growth.

Group chief executive officer Lau Shun Chuan said the lands are in, among others, Bukit Merah, Ipoh and Beriah.

MK Land, he said, is looking into building educational, industrial, residential and commercial precints.

“We are waiting for the infrastructure to be completed … this (developments in Perak) is the future for MK Land,” he said after the company’s annual general meeting, here, yesterday.

“We have these launches coming up but are still focused on growth in the Klang Valley, where we have on-going semi-detached residential projects such as Rafflesia@Park, Rafflesia@Hill and Rafflesia@Peak in Damansara Perdana,” Lau said.

MK Land has a landbank of 2,023.43ha that can generate a gross development value of RM6 billion.

The company plans to launch some RM2.2 billion new projects over the next two years in Damansara Perdana, Damansara Damai and in Ipoh.

MK Land’s net profit jumped 63 per cent to RM65.7 million for fiscal year 2014. Revenue was RM488.7 million, slightly higher than in 2013.



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