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Friday, August 19, 2011

Hua Yang plans to expand into Sabah, Sarawak

MAIN Market-listed Hua Yang Bhd plans to introduce its affordable housing to Sabah and Sarawak.

The company is currently talking to landowners to acquire land near city centres there.

"Sabah and Sarawak are our next market. We've done a lot of study and we believe the population and economic growth there will generate strong demand for our houses," chief executive officer Ho Wen Yan said.

Currently, Hua Yang's property projects are concentrated namely in Klang Valley, Johor and Perak.

The company, which was incorporated some 33 years ago in Ipoh, has no plans for now to go abroad.

Ho said the market is still big in Malaysia and the company wants to grow its market share here.

However, he said Hua Yang may bring its affordable housing model abroad, probably into Asian market in the next three to five years' time.

Merger and acquisition (M&A) is also not the company's way of expanding.

"We want to build a sustainable business over the long term ... We don't want to overborrow and we want to grow organically so that we can handle the growth," he said.

By Business Times

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