NEXGRAM PLANS AFFORDABLE HOUSES

KUALA LUMPUR: Nexgram Holdings Bhd is planning to build affordable houses priced between RM300,000 and RM500,000, in response to the government’s call for more affordable housing.

Executive chairman Datuk Donald Lim Siang Chai said Nexgram was expected to firm up its decision to develop the projects via j oint-development agreements.

“The developments will be within the Klang Valley and big- ger cities,” he said after Nexgram’s annual general meeting, here, yesterday.

Lim said Nexgram was negotiating with various companies and landowners to embark on affordable housing projects.

“We hope by next year, we are able to firm up some of the joint ventures for affordable housing projects.”

The company is open to new partnerships to undertake the Angkasa Icon City mixed-devel- opment project in Cyberjaya, after its agreement with Seychelles Incorporated China Asian Capital Holding Ltd lapsed recently.

“We will submit our plan to the authorities for approval. We hope the market will get better,” he added.

Lim is optimistic about Nexgram turning around in 2019.

In the financial year ended July 31 2017, Nexgram posted a net loss of RM16.19 million and revenue of RM53.16 million.

He said Nexgram did not expect to perform better in the current financial year after suffering a loss in the 2017 financial year.

“We are confident that we should be able to move forward in the 2019 financial year.”

Lim said Nexgram was looking to improve its cash flow through its three core businesses of information, communications and technology (ICT), property and logistics.

“At the moment, the compa- ny’s focus is on ICT, which is very competitive.”

Executive director Mazru Mat Yusof said Nexgram would focus on ICT software development.

He expects the ICT business to contribute about 70 per cent of revenue in the 2018 financial year.

“Our ICT security service will be mainly in local banking (automated teller machines) and residential security installation system,” he said. Ayisy Yusof