Ti­ti­jaya will keep seek­ing strate­gic part­ner­ships

New Straits Times - - Business / News -

KUALA LUMPUR: Prop­erty de­vel­oper Ti­ti­jaya Land Bhd will con­tinue to pur­sue strate­gic part­ner­ship and op­por­tunis­tic landb ank ac­tiv­i­ties, given the chal­leng­ing mar­ket con­di­tion.

The group, in a state­ment, said it was on the right tra­jec­tory to achieve the RM300 mil­lion sales tar­get for the fi­nan­cial year end­ing next month.

Group man­ag­ing di­rec­tor Tan Sri Lim Soon Peng said the group’s on­go­ing and up­com­ing projects and con­tin­u­ous and ex­ist­ing project progress recog­ni­tion were ex­pected to have a pos­i­tive impact on its per­for­mance, thus al­low­ing it to achieve bet­ter re­sults for the fi­nan­cial year 2017.

The group is op­ti­mistic of its out­look, backed by strong out­stand­ing un­billed sales of RM471 mil­lion and en­cour­ag­ing re­sponse to ex­ist­ing projects.

Ti­ti­jaya has projects with a to­tal gross de­vel­op­ment value of RM1.8 bil­lion in the pipeline. “Based on our lat­est pre­view, the out­look for the prop­erty mar­ket in Malaysia is turn­ing pos­i­tive and re­gain­ing some buoy­ancy, es­pe­cially in the af­ford­able low unit price seg­ment.

“For in­stance, our 3rdNv­enue Em­bassy Row Project in Jalan Am­pang, here, re­ceived stag­ger­ing re­cep­tion dur­ing a pri­vate pre­view ses­sion held ear­lier.”

Mean­while, the prop­erty de­vel­oper reg­is­tered a net profit of RM19.2 mil­lion in the third quar­ter for the fi­nan­cial year end­ing June 30, com­pared with RM15.2 mil­lion recorded in its pre­vi­ous cor­re­spond­ing pe­riod. Bernama

Com­pany on right tra­jec­tory to achieve

sales tar­get

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