TH Properties Sdn Bhd, the property arm of pilgrims fund management institution Lembaga Tabung Haji, will take on more infrastructure projects in Malaysia to expand the company.
Group managing director and chief executive officer Datuk Roszali Othman said the company has about RM1 billion worth of construction jobs in hand and this is expected to increase next year.
TH Properties is targeting private finance initiative projects under the Economic Transformation Programme.
It expects to conclude several deals with the respective government agencies by early next year.
"We are looking into the bigger role now, especially to drive up our construction activities. We have very low gearing and substantial cash in TH Properties to move up a notch," he told Business Times in an interview recently.
Roszali said if the need arises, TH Properties will raise funds through a bond sale, among others.
TH Properties is involved in property development, construction and facilities management.
Its ongoing construction contracts include a RM400 million job to develop a complex in Putrajaya for the Department of Islamic Development Malaysia.
TH Properties is also involved in Tabung Haji's integrated Haj Pilgrims Complex development at the Kuala Lumpur International Airport, besides carrying out its own two property development projects in the Klang Valley.
The two projects are the RM9.2 billion Bandar Enstek township in Sepang and a residential project in Keramat, worth RM700 million.
TH Properties will launch several new phases at Bandar Enstek and the project in Keramat next year.
"What we intend to do is to grow all our businesses. It is a positive move forward," Roszali said.
By Business Times
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