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Update Glomac targets sales of about RM800 million for FY14

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Update Glomac targets sales of about RM800 million for FY14 Empty Update Glomac targets sales of about RM800 million for FY14

Post by Cals Thu 24 Oct 2013, 13:18

Update Glomac targets sales of about RM800 million for FY14
Business & Markets 2013
Written by Kamarul Anwar and Wei Lynn Tang of theedgemalaysia.com   
Thursday, 24 October 2013 12:42
KUALA LUMPUR (October 24): Glomac Bhd is targeting approximately RM800 million for its financial year ending April 30, 2014 (FY14), which is about the same amount of sales it made in the previous financial year.
Speaking to reporters after Glomac's AGM and EGM, group managing director/CEO Datuk FD Iskandar said the group currently has 12 ongoing projects with a future gross development value (GDV) of RM7 billion.
"This GDV could last us about six to seven years," said Iskandar, before adding that Glomac is not resting on its laurels.
He added the group is actively seeking for land banks.
While Glomac is currently focusing on the Greater Kuala Lumpur area, Iskandar said the group is not ruling out other areas, provided they will bring attractive returns to Glomac.
The group also had unbilled sales of RM852 million as at July 31, 2013. According to Iskandar, Glomac's unbilled sales value is the eighth highest among all listed property developers in Malaysia.
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