Bolton ... Sep11

It will be launching projects with a gross development value (GDV) of RM3 billion over the next 12 months.

The group has three projects to be launched with a total GDV of RM1 billion. It has also received preliminary approval for our proposed revision to the development plan of the 1.74 hectare Jalan Mayang land in the KLCC area, which we plan to launch in 2012.

For the financial year ended March 31, 2010, the group posted a lower pre-tax profit of RM20.3 million as compared to RM50.7 million previously, while revenue was down to RM243.8 million from RM257.5 million.

The decline in pre-tax profit was due to one-off charges, namely, the mark-to-market losses on quoted securities of RM6.5 million and higher marketing expenses of RM17.6 million incurred due to the record sales performance achieved during the year.