BIGGEST CONTRIBUTOR: Market in the north resilient, demand among property buyers in from Kedah still strong
BINA Darulaman Bhd (BDB), a public listed Kedah state government-linked company is expected to continue to generate most of its revenue from the property sector in the next few years.
Last year, the company's property division was the biggest earnings contributor - RM105.2 million in revenue and RM13.3 million in profit - which made up 45 per cent of the total profit.
Group managing director Datuk Izham Yusoff said the property market in the north is resilient and demand in Kedah remains strong.
"We have not seen any slowdown in property demand, be it for the low cost, medium cost or the high end properties. So far, all of our property units in the state have been sold out.
"Most of the buyers look at the accessibility aspects, while some look forward to a green landscape when deciding on a property purchase," he said after BDB's annual general meeting, here, Sunday.
Izham said Darulaman Utama in Kuala Ketil and Darulaman Perdana in Sungai Petani are among the company's projects which hold excellent prospects and are set to boost the group's future growth, considering their strategic locations and easy access to Kulim, Baling and Penang.
Besides property, he said, BDB also relies on the road and quarry sector, which continues to become a stable contributor to the company's revenue and profit.
Meanwhile, the construction sector contributed a lower RM11.1 million profit last year, compared with RM15.4 million in 2012.
It is learnt that the division's lower revenue and profit were due to the slow progress of ongoing projects. In 2012, the Kolej Universiti Insaniah's main campus project in Kuala Ketil was the biggest contributor to the group's performance.
Izham said the drop in the construction division's earnings had led to the decline of BDB's total revenue by 10 per cent last year, compared with 2012's.
- THE BUSINESS TIMES
0 comments:
Post a Comment