The group attributed improved profit to increased revenue and profit recognition from the sales achieved to date, and the timely handovers of its maiden property project, Fulton Lane in Australia, which was accounted based on the completion method.
The land is slated for a light industrial park and is a part of GUH Holdings' plan to cultivate future earnings growth in its property division, it said in a filing with Bursa Malaysia.
The highest growth in capital values can be found at Danau Impian, with the average price here up 26.2% to RM474 psf. This could be due to its location, close to shops and eateries, or its pricing. With practical unit sizes between 918 and 1,000 sqft for a 3-bedroom unit, the price quantum for units here fall within the RM400,000 – RM470,000 range.
In the review period, transactions of non-landed residences in the secondary market have yet to breach the RM1,000 psf level.
The project owner, Prasarana Malaysia Bhd targets to complete the pre-qualification of contractors by December this year and commence construction work in early 2016. The project is due for completion in Aug 31, 2020.
In a filing with Bursa Malaysia yesterday, CHHB said two summonses, dated Aug 17, were received by the company on Sept 4.
Taman Desa was originally developed in the 1970s as an upper-middle class enclave of houses and bungalows.
This projection is based on the group’s three-year business plan target until 2016.
Based on theedgeproperty.com’s analysis of transactions, prices of non-landed properties in Taman Desa appreciated steadily in the review period of 2012–2014.
The Kuala-Lumpur-Singapore HSR project was announced in 2010 and will reduce travel time between Kuala Lumpur and Singapore to 90 minutes.
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