SM Nasarudin SM Nasimuddin
Chairman SM Nasarudin SM Nasimuddin said the new projects were expected to increase the group's net profit this year by 22% to RM100mil from RM82mil last year.
“Having said this, the group's turnover this year is targeted to hit RM1bil, up 57.5% from RM635mil in 2010,” he said yesterday at Naza TTDI 2010 Performance Review & 2011 Plans event.
SM Nasarudin added that these new launches would comprise both residential and commercial developments such as TTDI Grove in Kajang, TTDI Alam Impian in Shah Alam, TTDI Dualis in Puchong and a 35-storey tower at Jalan Tun Razak.
“This year's launches are in line with our aspirations to be among the top 10 property developers in the country over the next three years,” he said, adding that by 2015, the group was targeting to achieve a net profit of RM267mil and turnover of RM2.22bil.
Meanwhile, group managing director SM Faliq SM Nasimuddin said in addition to the new launches, Naza TTDI had also established an associate construction company, Naza TTDI Construction (NTC).
“This company will complement Naza TTDI's business and offer complete construction services, specialising in the fields of building, civil engineering and infrastructure works,” he said.
SM Faliq also said the group was looking at expanding its land bank locally and regionally over the next few years.
The group currently has an existing land bank of over 161.87ha in Malaysia.
“Apart from that, we are also looking at the potential of penetrating other markets in the region such as Singapore, Vietnam, Indonesia and China with high-impact and high-visibility projects that will provide the necessary profile to propel us into the global property market,” he said.
By The Star
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