BCB eyes more property projects in the Klang Valley

PETALING JAYA: Johor-based property developer BCB Bhd is eyeing opportunities to develop more projects in the Klang Valley.

“We are definitely looking at more prospects in the Klang valley,” group managing director Datuk Robert Tan Seng Leong told StarBiz yesterday.

Tan: ‘The prospects in the Klang Valley is good and is quite stable.’

“The prospects in the Klang Valley is good and is quite stable,” he pointed out.

BCB currently has three ongoing projects in the Klang Valley with total gross development value (GDV) of RM2.6bil.

“We have 151 acres in Kota Kemuning, Shah Alam, which would be allocated for a bungalow development. We also have a bungalow project in Taman Yarl and a luxury condominium development - Concerto Kiara @ Mont Kiara.”

He said response for the company Concerto Kiara, which was launched earlier this month,was good.

“Our other developments are in Johor. In Batu Pahat, BCB has a market share of between 60% and 70% of the projects being undertaken by about 26 developers there.”

Tan said the company had about 1,000 acres in Batu Pahat.

For its third quarter ended March 31, 2012, BCB's net profit rose to RM3.95mil from RM2.42mil a year earlier mainly due to better sales margins, while revenue fell to RM32.26mil from RM34.97mil previously.

For the nine-months ended March 31, net profit rose to RM7.64mil from RM6mil a year earlier while revenue rose to RM89.70mil from RM80.35mil previously.

In its notes accompanying its quarterly results to Bursa Malaysia, BCB said it was optimistic of its performance for its current financial year.

“In the coming months, the group will facilitate the launch and development of its Klang Valley properties.

“The group is optimistic that these projects as well as existing ones will contribute positively to its earnings,” the company said.

By The Star

iProperty to partner with LJ Hooker

KUALA LUMPUR: The iProperty Group today announced its partnership with LJ Hooker, Australia's best-known and most trusted real estate brand.

Listed on the Australian Securities Exchange, the iProperty Group owns and operates Asia's number one network of property websites under the iProperty.com umbrella brand.

The partnership between the two parties will see over 50,000 sales listings published from over 690 LJ Hooker offices in Australasia on the iProperty Group's network of property portals in Malaysia, Indonesia, Hong Kong, Macau and Singapore.

iProperty Group Chief Executive Officer Shaun Di Gregorio said in a statement that the agreement will allow LJ Hooker agencies to advertise their for sale properties in key Asian markets.

"This can tap into a whole new market of potential property buyers and investors in the Asian region," he said.

The partnership means that when a vendor lists a property for sale with LJ Hooker, that property will also be advertised on the iProperty Group's network of property portals.

Di Gregorio added that the partnership is in line with the company's strategic mission to deliver more choice for their consumers who are in search of properties locally and internationally.

LJ Hooker's General Manager of International and Head of Network Development Bill Russell said the company was proud to be in partnership with the leading operator of property portals in Asia.

"LJ Hooker is committed to growing and expanding the reach of our agents, not just in Australia and New Zealand but also in Asia.

"Our aim is to provide the best real estate experience and service for our customers and to continue to be the leading brand and the name that is synonymous with real estate," he added.

By Bernama