HOHUP (5169) - Ho Hup to generate RM90m to RM100m sales annually
Thursday, 30 April 2015
KUALA LUMPUR: Small cap property and construction company Ho Hup Construction Company Bhd will be able to generate between RM90mil and RM100mil annually from its mixed integrated Bukit Jalil development for the next seven to eight years.
CEO Derek Wong Kit-Leong said on Thursday this would enable the company to increase its land bank as it aims to continue making property development its main revenue contributor for the group.
The company, which exited from its PN17 status last year, other main business is construction but although revenue was fairly evenly distributed between property development and construction, at profit level, property segment accounts for 80% and the remainder coming from construction.
Wong said going forward, the company would "leverage" considerably on Aurora Place in Bukit Jalil and its joint venture with Malton Bhd. Aurora Place is located next to Malton's 50 acres.
Ho Hup is entitled to 18% of the estimated gross development value (GDV) ranging from RM4bil to RM4.5bil for the 50-acre project.
http://www.thestar.com.my
Thursday, 30 April 2015
KUALA LUMPUR: Small cap property and construction company Ho Hup Construction Company Bhd will be able to generate between RM90mil and RM100mil annually from its mixed integrated Bukit Jalil development for the next seven to eight years.
CEO Derek Wong Kit-Leong said on Thursday this would enable the company to increase its land bank as it aims to continue making property development its main revenue contributor for the group.
The company, which exited from its PN17 status last year, other main business is construction but although revenue was fairly evenly distributed between property development and construction, at profit level, property segment accounts for 80% and the remainder coming from construction.
Wong said going forward, the company would "leverage" considerably on Aurora Place in Bukit Jalil and its joint venture with Malton Bhd. Aurora Place is located next to Malton's 50 acres.
Ho Hup is entitled to 18% of the estimated gross development value (GDV) ranging from RM4bil to RM4.5bil for the 50-acre project.
http://www.thestar.com.my
