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Friday, February 3, 2012

Hua Yang to focus on Malaysian market for now

KUALA LUMPUR: 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 said.

For the nine-month period ended December 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. I hope these countries are ready for foreign investors then. We are now exploring opportunities," he said.

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," Ho said.

Pulai Hijauan, with an estimated gross development value (GDV) of RM380 million, is about a kilometre 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 this, the GDV for ongoing projects is about RM983 million.

By Bernama

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