Land & General plans high-value property projects (3174)

KUALA LUMPUR: Land & General Bhd (L&G)
aims to undertake high-value property projects in Klang Valley as well
as Penang and Johor Bahru to generate the most returns per acre.
Managing director Low Gay Teck
said on Wednesday the group is working to break away from the mid-range
developer category, with the target to increase its market
capitalisation beyond RM300mil and profits above RM40mil.
L&G does not have a large landbank but the group is focused on how to generate the most returns per hectare.
"We
do not look at the acreage when it comes to our landbank but how the
land we have can generate most revenue and profits," Low said after the
AGM.
L&G is in talks with landowners in Penang and Johor
while it still has 36 acres in Sungai Petani and 20 acres of
undeveloped industrial land in Johor.
For FY12, L&G's property division contributed 82% to the group profits at RM33.12mil.