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  Articles: Golden Hope to profit more than properties

 

Golden Hope Plantations Bhd expects its property unit to contribute 20%-30% to group pre-tax profit in the next two to three years, said group chief executive Datuk Wahab Maskan.

Contribution from this division in the last few years had ranged from 16%-20%, he said.

Abdul Wahab told reporters this after the signing of a memorandum of agreement (MoA) and sale and purchase agreement (SPA) for part of the Sungai Sedu main division in Kuala Landat, Selangor, between Golden Hope Development Sdn Bhd and Syarikat Perumahan Pegawai Kerajaan Sdn Bhd in Kuala Lumpur yesterday.

The MoA was for the proposed disposal in phases of part of 228.17 acres in Sungai Sedu while the SPA was for the first phase of the disposal involving 64.07 acres.

The sale was expected to contribute revenues of RM9.2mil to Golden Hope Development for the financial years 2002/03 and 2003/04, Golden Hope Plantations said in a statement.

 

   
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