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Tuesday, May 26, 2009

Metro Kajang H1 pre-tax profit up

Metro Kajang Holdings Bhd's pre-tax profit for the six months ended March 31, 2009, rose to RM25.205 million from RM22.857 million in the same period of 2008.

Revenue increased to RM175.293 million from RM149.773 million previously.

In a statement today in Kuala Lumpur, executive chairman, Datuk Alex Chen Kooi Chiew, said property sales were encouraging.

"Our non property-related activities also delivered commendable results, notably our manufacturing and integrated livestock divisions continue to grow in significance," he said.

Chen said although economic uncertainty prevailed, the recent improvement in stock market sentiment could translate into overall improvement in confidence, especially in the property sector.

He said the company planned to launch the initial phases for several key property projects over the next 18 months.

"These new developments, which has a total estimated gross development value of RM1.5 billion, consist of township projects as well as the RM133 million-Melawati serviced apartments in Desa Melawati, Kuala Lumpur," he said.

He said at the group level, the company has identified and would continue to build up four core divisions -- property development, investment, integrated livestock and oil palm plantation -- as future growth drivers," he said.

By Bernama

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