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Friday, November 23, 2007

Three projects by PJ Development

KUALA LUMPUR: PJ Development Holdings Bhd (PJD) plans to launch three projects by June 30.

Managing director Wong Ah Chiew said the projects were Swiss Garden Residence in Jalan Galloway and Siarah Oakleaf in Bukit Antarabangsa, both in Kuala Lumpur and Mont' Callista in Pulai, Johor.

Wong Ah Chiew

“We are mainly focusing on property development in the high-growth areas of Johor, Kuala Lumpur and Penang, as well as the east coast,” Wong said after the company's AGM yesterday.

The high-end Swiss Garden Residence would most likely be launched in January. The serviced apartments with an estimated gross development value (GDV) of RM250mil will consist of two towers. The 33-storey Tower A will offer 227 units and the 37-storey Tower B, 251 units.

PJD will also launch the Siarah Oakleaf within the next six months. The project has an estimated GDV of RM30mil.

The Johor project is a gated and guarded community of 192 three-storey semi-detached houses with a total GDV of RM150mil.

“Prospects for the current year (ending June 30, 2008) are very good due to our ongoing projects as well as high demand for electrical cables,” Wong said.

PJD has a capacity for RM200mil–RM300mil worth of “Olympic cable” a year at its plant in Malacca. The capacity would be increased by about RM15mil with the opening of the first phase of PJD's new factory in Vietnam by January, Wong said, adding that it involved an investment of RM20mil to RM30mil.

PJD has planned for two more phases of electrical cable manufacturing facilities on the 10-acre site in Vietnam.

The company's construction division, meanwhile, has RM800mil projects in-hand in Malaysia and Thailand.

On PJD's hotel division, Wong said the sector had improved in recent years in terms of both room rates and occupancy.

By The Star

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