Sen­to­ria eyes RM350m prop­erty sales for FY17

> Devel­oper op­ti­mistic be­cause it op­er­ates in the af­ford­able hous­ing seg­ment

The Sun (Malaysia) - - SUNBIZ - BY EE ANN NEE

KUALA LUMPUR: Sen­to­ria Group Bhd is tar­get­ing prop­erty sales of RM350 mil­lion in the cur­rent fi­nan­cial year end­ing Sept 30, 2017 (FY17), com­pared with RM228 mil­lion achieved in FY16, said joint man­ag­ing direc­tor Datuk Gan Kim Leong.

“Over­all, the mar­ket is chal­leng­ing but be­cause we op­er­ate in the af­ford­able hous­ing (sec­tor) and we have slightly more un­billed sales (than last year), we think it’s still pos­i­tive to us,” he told re­porters at its cor­po­rate up­date briefing here yes­ter­day.

Sen­to­ria is an af­ford­able hous­ing devel­oper with 96% of its res­i­den­tial units priced be­low RM300,000 each. In FY17, Sen­to­ria will be in­ten­si­fy­ing its prop­erty launches with RM400.2 mil­lion worth of af­ford­able hous­ing development to be launched in Kuantan, Kuching and Morib.

It is tar­get­ing prop­erty sales of RM350 mil­lion in FY17 and RM450 mil­lion in FY18. In FY16, its prop­erty sales stood at RM228 mil­lion, com­pared with RM94 mil­lion in FY15. The group’s un­billed sales as of Sept 30, 2016 amounted to RM293.47 mil­lion.

Sen­to­ria has a to­tal land­bank of 1,800 acres with a gross development value (GDV) of RM9.8 bil­lion in Kuantan, Kuching, Kuala Lan­gat, Sun­gai Pe­tani and Langkawi.

Its leisure and hos­pi­tal­ity divi­sion saw a loss of RM89,000 in FY16, com­pared with an op­er­at­ing loss of RM6.6 mil­lion in FY15, amid de­clin­ing dis­posal in­come and weak con­sumer sen­ti­ment.

“We hope our leisure and hos­pi­tal­ity divi­sion will break even in FY17,” Gan said, adding that the group plans to im­prove cus­tomer ex­pe­ri­ence.

Mean­while, he said, the group aims to com­plete its se­cond re­sort city, the Bor­neo Sa­mar­i­ang Re­sort City (BSRC) in Kuching in 2017 for its open­ing by 2018.

Gan said BSRC should do bet­ter than its first re­sort city, which is the Bukit Gam­bang Re­sort City in Kuantan, in the first three years due to the strong meet­ings, in­cen­tives, con­ven­tions and ex­hi­bi­tions mar­ket in Kuching.

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