DNP Holdings Bhd will be launching five property projects in Kuala Lumpur and Penang next year. These projects are expected to be major contributors to its revenue for financial years 2008 and 2009
For the year ended June, the property arm contributed about 30 percent to the group's RM425 million revenue.
According to general manager Lee Kong Beng, three of these projects will be located in Jalan Ampang, Jalan U-Thant and Bukit Ceylon in Kuala Lumpur. Menara DNP, a high-end condominium project in Jalan Ampang, will be built on a 1.5-acre site and will comprise of 200 units. A French architect has been engaged to design the project.
The Jalan U-Thant project will be a low-rise 30-unit condominium block on a one-acre site and the project in Bukit Ceylon will comprise of four condominium blocks offering 420 units on a 2.67-acre site.
Commenting on the projects in Penang, Lee said that they will launch at least two on the mainland and island, that will comprise medium and high-end landed residential properties.
On the retail business segment, Lee said another 18 retail outlets in Kuala Lumpur selling the group’s fashion labels such as Topshop, Topman and Dorothy Perkins will open by the end of next month. This will bring its total number of fashion retail stores in Malaysia to 50.
For the first quarter ended Sept 30, the group posted a pre-tax profit of RM15.6 million on the back of a turnover of RM96 million turnover, compared with a pre-tax profit of RM10.9 million and RM79 million revenue previously.