KUALA LUMPUR: Property developer Selangor Dredging Bhd (SDB) plans to launch RM1.6 billion worth of real estate locally and abroad in the next three years, with overseas projects expected to contribute about 30% of turnover in fiscal year 2010. The former mining company, which started building properties in 2002 and owns Hotel Maya here, hopes to unveil the first of its overseas real estate developments — two projects in Singapore collectively valued at some RM410 million — within the next few months. Earnings for the current financial year to March 31, 2008, and for FY09 would be largely underpinned by property development income, helped by some RM230 million of unbilled real estate sales, SDB managing director Teh Lip Kim said.
(28-1-2008 The Edge)
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