Mitrajaya expects RM1.75bil contribution from construction business
Date：2015/06/24
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Mitrajaya Holdings Bhd expects contribution from its construction business to remain good this year, supported by its RM1.75 billion outstanding order book.
According to Managing Director Tan Eng Piow, the company was also looking into the possibility of acquiring more land banks in the coming years.
Currently, the company which is also involved in property development, has a total land bank of 104.27 hectares worth more than RM2 billion.
“Our immediate plans are buying properties with the probability of developing it.
“The next land bank to be developed is Puchong Prima followed by residential developments in Banting, Selangor,” Tan told reporters after the company’s annual general meeting here today.
He added that the company is also considering of exploring Pulau Melaka for residential development but no firm plans had been made.
Meanwhile, Tan said the company’s investment in South Africa should also perform better this year where they have investments in South Africa since 1998 and have properties there worth RM150 million in gross development value.
The company is also expected to generate an additional RM72.5 million in profits by developing land parcels in South Africa with residential, neighbourhood shopping mall and office building projects.