Land & General Berhad Announce Increased Profits
Share story
In its 56th annual general meeting, Land & General Berhad (L&G) has announced an improvement in its revenue and core pre-tax profits. This is attributed to the sales and construction progress of its three on-going development projects – Astoria Ampang, Sena Parc in Senawang and Damansara Seresta in Sri Damansara.
The group’s revenue of RM134.4 million for FY2019 has seen a 45.6% increase compared to RM92.3 million in the previous year.
“We are confident that there is demand for a well-designed landed development township that is affordably priced, surrounded by lush, beautiful parks and a stone’s throw away from major townships like Seremban and Senawang, and their many conveniences,” said Mr Low Gay Teck, Managing Director of L&G.
Low was referring to the recent launch of L&G’s Sena Parc project in Senawang, having a Gross Development Value (GDV) of RM230 million. Phase 1A has a current take-up rate of 60%.
“We already have three on-going projects. We are careful with our product launches next year, yet at the same time we are optimistic that the Government’s initiative, such as Home Ownership Campaign and stamp duties waiver will stimulate the property industry,” said Low.
