News : Crest Builder - Property segment, 40% to top line by year-end

Alam Sanjung take up rate 70% - balance still have 30% unsold

2015 Jun 25

KUALA LUMPUR: Crest Builder Holdings Bhd expects its property segment to contribute 50% to the group's top line, from the current 40%, by year-end.



Executive director Eric Yong Shang Ming said, to date, the construction segment, the company's core activity, contributed 60% to revenue and the property segment 40%. However, the property segment contributed 70% to the bottom line and the construction division 30%.



Yong said the target will be driven by sales in the property segment.



"We will be aggressive in pushing the segment forward as we see the property sales picking up two months after the introduction of the Goods and Services Tax," he told reporters after the group's annual general meeting here yesterday.



He said the company expects to start the fifth phase construction of Hijauan Residensi, a project which consists of 646 residential units in August this year.



"Total gross development value of our projects for this year is RM320 million and one of our projects, Alam Sanjung, which is located in Shah Alam, has recorded a 70% take-up rate," he said.



Yong expects the performance of the group's construction segment to be better this year, supported by its external order book, which stands at RM350 million.



"However, we are actively bidding for projects, including in Sabah as well as testing the Penang market, through participating in tenders for projects in that state," he said, adding that company's success rate in bidding for project is between 10% and 20%. – Bernama