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Saturday, December 15, 2007

Insas hits 90% sales

A model of Insas’ Putra Residen

A good response has been achieved for Insas Bhd’s two maiden launches of the Ampang Putra Residency and Putra Residen@ Bukit Rahman Putra said its group managing director and chief executive officer Datuk Wong Gian Kui (pix).

The Ampang Putra Residency in Jalan Ampang comprises 18 units of 3-storey shop offices and two 20- storey blocks of apartments. More than 90% sales for shop offices and the one block of apartments have been achieved. Plans are to launch the second block of apartments soon,” he said in his statement in the group’s 2007 annual report.

The group had soft-launched the freehold 10.2-acre Putra Residen @ Bukit Rahman Putra, Sungai Buloh a year ago and a take-up of over 70% has been achieved for the 57 units of “zero boundary” bungalows.

The RM60 million Putra Residen is being developed by Insas’ subsidiary Hastanas Development Sdn Bhd.

There are only five units per acre and the bungalows have builtups of 3,605 to 3,843 sq ft with prices from RM835,000 onwards.

He added that the group is currently awaiting approval for the development order for its 22.3 acres of land in Cheras into a gated and guarded residential project. “We will continue to identify and invest in good property investment and development projects in the Klang Valley that yield
attractive returns and have good development potential,” Wong said.

Insas Bhd is listed on the main board of Bursa Malaysia and its businesses include stock broking,
investment holding, property investment and development, project and credit financing, highfashion retail and car rental.

For the financial year ended 30 June, 2007, the group’s revenue increased by 30% from RM163.4 million to RM212.2 million and profit before tax rose by 216% to RM77.3 million from RM24.5 million in the previous financial year.

By theSun (Allison Lee)

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