MK Land to help state govts build affordable homes
Published on: Friday, November 27, 2015
SHAH ALAM: MK Land Holdings Bhd, one of the largest property developers in Malaysia, welcomes requests from state governments to help build affordable homes.Group Chief Executive Officer, Lau Shu Chuan, said the company was more than happy to help them because it has the experience in the building of affordable homes."MK Land founder, Tan Sri Mustapha Kamal Abu Bakar, is well-known as 'King of Affordable Housing'," Lau told reporters after the company's annual general meeting here Thursday.
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Lau said the company was not involved in the government's affordable housing project, 1Malaysia People's Housing.He said currently, revenue from affordable houses accounted for about 50 per cent of the company's revenue, up from 20-30 per cent previously.Lau said the company was now focusing on the northern part of Peninsular Malaysia, like Perak, because it offered more potentials.Stay up-to-date by following Daily Express’s Telegram channel.
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For financial year ended June 30, 2015, MK Land's pre-tax profit rose to RM73 million from RM71.4 million in 2014. Its revenue, however, fell to RM488.3 million from RM488.7 million previously. – Bernama
