Glomac Upbeat On Property Sales
Last week we reviewed Glomac’s new Suria Stonor in the KLCC area. But it looks like the good times are set to roll on for this property developer.
The Edge recently reported recently that they have planned about RM630mil worth of development for the current financial year ending April 30, 2006. According to their group managing director Datuk Fateh Iskandar Mohamed Mansor, they are now undertaking 6 property development projects (including Suria Stonor), and with the new ones coming, they will have a total of 13 projects with a total gross development value of about RM2.70 billion.
In addition to that, he also reported that
FY05, Glomac’s net profit rose 3.60% to RM40.10 million from RM38.70 million in the previous year, despite a drop of 18.20% in revenue to RM261.90 million from RM320.20 million previously.
Read the entire article here.
