Melati moving into property development

KUALA LUMPUR: Having made its name in the construction services industry, Melati Ehsan Holdings Bhd intends to move into property development to diversify its earnings. “Construction services are currently the group's main contributor. However, we are always on the look-out for ways to enhance our income stream,” managing director Datuk Yap Suan Chee told StarBiz in an interview. Listed on the Bursa Malaysia main board last March, Melati will be developing its sole plot of land in Pandamaran, Klang soon. The 100-acre land was purchased from Bank Negara unit, TPPT Sdn Bhd, for RM32mil cash, Yap said. Datuk Yap Suan CheeThe development, which has an estimated gross development value of RM500mil, will comprise about 500 gated residential units, 320 shop lots with 8.97 acres of commercial units and 6.92 acres of industrial units. Executive director Tan Hong Hing said apart from diversifying its income base, venturing into property development would enable the group to command higher margins. Read more

(The Star 19-3-2008)