Titijaya profit jumps to RM17m on project completion
KUALA LUMPUR: Property developer Titijaya Land Bhd’s fourthquarter net profit ended June 30 this year increased 14 per cent from RM14.9 million to RM17.01 million, thanks to sales recognition of its various projects.
This translates to an improved earnings per share of 4.31 sen, compared with 4.18 sen a year ago.
In a statement yesterday, Titijaya Land group managing director Tan Sri Lim Soon Peng said the higher profit was mainly attributed to project completion at 3Elements, Seri Alam Phase 1 & II, Zone Innovation Park and progressive recognition from project H2O.
For the year ended June, it posted RM76.74 million in net profit, 12 per cent more than the RM68.34 million registered a year ago.
Revenue stood at RM380.75 million, compared with RM400.08 million a year ago. The profit after tax achieved was at RM76.38 million, compared with RM68.29 million in this financial year (FY).
Lim highlighted the current property market was undergoing a consolidation period, but there were signs of recovery in recent months.
“Titijaya has in the pipeline a slew of projects with a total gross development value of RM1.75 billion to be launched in FY2018.”
Currently, Titijaya’s outstanding unbilled sales amounting to RM409 million will keep the company busy in the months ahead.
He noted that Titijaya’s subsidiary, Aman Kemensah Sdn Bhd, had on August 21 received the High Qlassic Achievement Awards 2017 for its Embun @ Aman Kemensah project.
This is a low-density gated and guarded development with a 51 units of courtyard villas with private lifts and private club house facilities. It is surrounded by trees and comes with a hilltop cityscape view.
Each villa has been meticulously designed using feng shui principles, which, when harmoniously aligned with its surroundings, will promote well-being and an auspicious life for residents.
The Qlassic (Quality Assessment System in Construction) is a system and method to assess and evaluate the workmanship quality of building projects, based on the Construction Industry Standard (CIS 7).
The CIS 7 was established as a means to objectively compare the quality of workmanship among construction projects through a standardised scoring system. Ooi Tee Ching