Selangor Properties Bhd (Selangor Prop) expects the group's earnings growth to remain flat in its current financial year ending Oct 31, 2016 (FY16), as the group, which has not launched new products for some years — though it has a luxury condominium planned this year — continues to rely on its property investment as its major income stream for now.
Banks continued a stringent lending policy that makes it difficult for homebuyers to get loans. The uncertainties over economic prospects and the political scene plus the GST are pushing many prospective property buyers away.
The project undertaken by GDSB involves development of a parcel of land, measuring 41.5 acres, located in Ganggarak, Wilayah Persekutuan Labuan, with an estimated total gross development value (GDV) of RM611 million
1MDB president and group executive director Arul Kanda Kandasamy said 1MDB subsidiary Bandar Malaysia Sdn Bhd would undertake the exercise
Mitrajaya's revenue was up 55.13% to RM161.59 million against RM104.17 million in 1QFY14
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