DNP plans five property projects

PENANG: DNP Holdings Bhd will next year launch in Kuala Lumpur and Penang five property projects that will be major contributors to its revenue for the 2008 and 2009 financial years.

Three of these projects were at Jalan Ampang, Jalan U-Thant and Bukit Ceylon in Kuala Lumpur, general manager Lee Kong Beng said after the company AGM yesterday.

Menara DNP, comprising 200 luxury condominium units, was slated for the 1.5-acre site at Jalan Ampang.

“The project will have 420,000 sq ft saleable floor space. A French architect has been engaged to design the project,” Lee said.

The Jalan U-Thant project is a low-rise 30-unit condominium block on a one-acre site while Bukit Ceylon would have four condominium blocks offering 420 units on a 2.67-acre site.

“In Penang, we will launch at least two projects on the mainland and on the island. These projects will comprise medium and high-end landed residential properties,” he said.

Lee said he could not disclose the gross sale value of the projects, as the unit selling prices had not been determined.

For the year ended June, property business contributed about 30% of the group's RM425mil revenue.

On the retail business segment, Lee said another 18 retail outlets selling the group’s fashion labels such as Topshop, Topman and Dorothy Perkins would open by the end of next month in Kuala Lumpur.

“This would increase the number of our retail fashion shops in the country to 50 from the present 32,” he said.

For the first quarter ended Sept 30, the group posted RM15.6mil in pre-tax profit on RM96mil revenue, compared with RM10.9mil pre-tax profit and RM79mil revenue previously.

By The Star (By David Tan)