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Thursday, February 2, 2012

Hua Yang plans overseas expansion

Property developer, Hua Yang Bhd, will explore the overseas market when the company achieves its targeted RM800 million revenue in the next few years, says chief executive officer Ho Wen Yan.

“We hope to grow our revenue to RM800 million by 2018. By then, we will be at a comfortable size and can start looking for opportunities overseas or other high-end segments,” he told Bernama in an interview.

For the nine-month period ended Dec 31, 2011, Hua Yang’s revenue was RM222.13 million.

Ho said the company could bring its affordable housing model and technical expertise to emerging markets like Vietnam, Cambodia and Indonesia.

"Currently, venturing overseas is not in our plan, not within the next three years. The Malaysian market is still very strong, especially for our segment, the affordable housing.

"After three years, we will take a look. At that time, I hope these countries are ready for foreign investors. We are now exploring opportunities,” he said.

Ho said there are ample opportunities in Indonesia and Vietnam and developed countries like Singapore and Australia.

However, his company would have to offer different products for Singapore and Australia, being developed nations.
On the domestic front, Hua Yang plans to launch its next township "Pulai Hijauan" in Johor in April or May.

"Everything is ready now for the official launch of the township," he said.

Pulai Hijauan, with an estimated gross development value (GDV) of RM380 million, is about one kilometre away from the company’s existing township, Taman Pulai Indah, in Skudai.

Ho said the total GDV for the company’s ongoing projects and yet-to-be-developed ones was RM2.4 billion. Of that, the GDV for ongoing projects stands at about RM983 million.

“The rest are undeveloped and some are in the planning stage. These properties will be developed in the next few years. More phases will be developed in our townships, Taman Pulai Indah and Bandar Universiti Seri Iskandar in Perak,” he said.

Ho said the company aims to launch RM800 million worth of properties in Johor, Perak and the Klang Valley next year.

By Bernama

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