He added that Metro Kajang’s latest commercial development, Wang Commerz@Pelangi Semenyih, has been more than 70% sold and the hypermarket Tesco is scheduled to move in at the end of 2008. The freehold project was launched last month and has a GDV of RM33 million.The group, which has a presence in Kuala Lumpur, Petaling Jaya, Kajang and Semenyih, currently has 400 acres of undeveloped land to occupy them for another five years. Property development, which constitutes its core business, contributes 70% to the group’s profit. For the financial year ended Sept 30, 2007, the Group recorded a 21% increase in profit after tax to RM60.82 million from RM50.40 million in the preceding year.
(The Sun 27-2-2008)
