Selangor Dredging to launch three developments worth RM750 million

Selangor Dredging to launch three developments worth RM750 million
Business & Markets 2013
Written by Bernama
Wednesday, 21 August 2013 12:05

KUALA LUMPUR (Aug 21): SELANGOR DREDGING BHD [] (SDB) will launch three more property developments in Selangor in the current financial year with a collective gross development value (GDV) of RM750 million.

Teh Lip Kim, the company's managing director said of the three, one, The HUB was already taking shape. It is located in SS2 Petaling Jaya, and comprises a 44-storey office tower and two blocks of retail units.

Sixty-four per cent of the project has been sold.

The second project, a mixed development called SqWhere, is expected to be launched in the last quarter of 2013, and is spread over 1.94 hectares (4.8 acres) in Kota Damansara.

This will be followed by Jia1 in Taman Melawati in the first quarter of 2014. It is a residential development comprising both landed and
apartments units.

Speaking to the media after the company's annual general meeting here today, Teh announced that the SDB Group had recorded an improvement in its net profit, which rose to RM47.99 million for the financial year ending Mar 31, 2013 from RM45.74 million previously.

"In the current financial year, for the three months ending June 30, the group recorded revenue of RM70.8 million and a net profit of RM9.26 million, with RM920 million worth of unbilled PROPERTIES [], " she said.