PETALING JAYA: Plenitude Bhd posted a significant jump for its net profit to RM23.1 million in its second quarter ended Dec, 31, 2009, a 126% surge from the previous year’s corresponding quarter.
Its revenue soared 202% to RM109.4 million against the previous year’s corresponding quarter.
In a statement on Feb 23, Plenitude’s executive chairman Chua Elsie said the strong demand and return of consumer confidence in the property market has benefited Plenitude, particularly for properties in Puchong, Johor and Penang, which contributed substantially to the quarter’s performance.
“Our maiden luxury project in Penang, Bayu Ferringhi enjoyed great demand and to date, only a few bumiputra units of the condominium are available” she said.
The subsequent launch of the 2½-storey semi-detached homes in November 2009 also garnered much interest and sales.
“During this reporting quarter, our development in Puchong, namely Taman Putra Prima, also did exceptionally well,” she said.
The high demand for Plenitude’s new launch, Phase 8A in Taman Putra Prima, which consists of 197 units of 2-storey terraced houses set a record sale for its subsidiary, where all the units were sold out within two months from the launch date.
“The commercial developments of 2- and 3-storey shopoffices have been sold out. We are of course extremely excited and driven by these developments,” added Chua.
The sales of its townships in Sungai Petani, Kedah and Taman Desa Tebrau, Johor also continued to rise.
Chua said the attractive low interest rates offered by banks have also supported the increase in sales.
“Plenitude’s continued strategy of prudent management and selection of strategic product launches have proven to be key factors in delivering our financial results today.”
Cumulative half yearly results for financial year 2010 saw a profit after tax of RM34.9 million over revenue of RM167.3 million. This represented an overall increase of 49% and 61% in net profit and revenue, respectively.
Drawn on fundamental growth, Plenitude is poised to develop positively as the uptrend continues.
Given this positive environment, the cumulative half-year earnings per share also soared to 25.83 sen compared with 17.38 sen for the same period last year.
source: http://www.theedgeproperty.com
Tuesday, February 23, 2010
Tuesday, February 16, 2010
Sunday, January 31, 2010
LRT service from Ampang to be extended soon
PETALING JAYA -- Transport Minister Datuk Seri Ong Tee Keat said today his ministry plans to expand the light rail transit (LRT) service from Ampang soon.
He said the ministry received feedback from the public requesting it to include and improve the Ampang line in the expansion plan, especially around Puchong and Serdang area.
"The ministry has just completed tackling the extension of the rail service from Kelana Jaya to Subang.
"We will be conducting the same process as we did when tackling the Kelana Jaya extension, including conducting public hearing and also town hall meetings, for the expansion of the rail service from Ampang to Puchong-Serdang," he said.
He was speaking to reporters after launching the "Hope and Train 2009/2010 Appreciation Ceremony" at Taylor's University College new campus here.
Ong said the ministry received an overwhelming support for the expansion of the Kelana Jaya-Subang rail last year and decided to conduct the same process for the Ampang line.
He also said that the public also wanted the LRT service to be improved including shortening the waiting time for coaches.
"As improving public transportation is one of priorities in the National Key Result Area (NKRA), it is the responsibilities of the ministry to improve the LRT system," he said.
The Ampang LRT line extension will begin from the Sri Petaling Station passing through Kinrara and Puchong before ending at Putra Heights, covering a distance of 17.7km with 13 new stations.
Asked whether the Ampang LRT line would also be using new coaches like the Kelana Jaya LRT line, Ong said the ministry was looking into it.
The extensions for the Kelana Jaya and Ampang LRT lines are estimated to cost RM7 billion and managed by Syarikat Prasarana Negara Berhad (SPNB).
He said the ministry received feedback from the public requesting it to include and improve the Ampang line in the expansion plan, especially around Puchong and Serdang area.
"The ministry has just completed tackling the extension of the rail service from Kelana Jaya to Subang.
"We will be conducting the same process as we did when tackling the Kelana Jaya extension, including conducting public hearing and also town hall meetings, for the expansion of the rail service from Ampang to Puchong-Serdang," he said.
He was speaking to reporters after launching the "Hope and Train 2009/2010 Appreciation Ceremony" at Taylor's University College new campus here.
Ong said the ministry received an overwhelming support for the expansion of the Kelana Jaya-Subang rail last year and decided to conduct the same process for the Ampang line.
He also said that the public also wanted the LRT service to be improved including shortening the waiting time for coaches.
"As improving public transportation is one of priorities in the National Key Result Area (NKRA), it is the responsibilities of the ministry to improve the LRT system," he said.
The Ampang LRT line extension will begin from the Sri Petaling Station passing through Kinrara and Puchong before ending at Putra Heights, covering a distance of 17.7km with 13 new stations.
Asked whether the Ampang LRT line would also be using new coaches like the Kelana Jaya LRT line, Ong said the ministry was looking into it.
The extensions for the Kelana Jaya and Ampang LRT lines are estimated to cost RM7 billion and managed by Syarikat Prasarana Negara Berhad (SPNB).
source: Bernama January 31st, 2010
Saturday, January 16, 2010
MPSJ looks at long-term plan to end Puchong traffic woes
WHILE the Subang Jaya Municipal Council (MPSJ) has yet to collect sufficient funds to fully implement the traffic system upgrade plan in Taman Perindustrian Puchong Utama, several efforts are being made to alleviate the traffic situation.
It includes traffic lights for Jalan Utama 2, which will also be widened.
Plenty of space: The plot of vacant land will be used to widen the road in an effort to alleviate congestion.
MPSJ councillor Ng Sze Han said 10 developers, which had projects in the area, are supposed to contribute to the RM20mil fund according to the size and progress of their developments.
So far, only 38.5% (or about RM7.7mil) has been collected from seven developers and only one of them has fully settled its contribution.
“The rest are still going on with their projects, while three other haven’t started their projects yet,” Ng, who sits on the infrastructure committee, said.
The main part of the upgrade plan involves the construction of an interchange from the Damansara-Puchong Expressway (LDP) into Jalan Utama 2 and several upgrade works on Jalan Utama 2.
Ng said the interchange would cost RM17mil and the initial planning could only start when the council had collected at least RM10mil.
The council had also used part of the money to install traffic lights at the junction of Jalan Utama 2 and Persiaran Puchong Perdana last year.
It is also looking at widening Jalan Utama 2 by turning a part of the vacant land into lanes.
Meanwhile, Litrak, the LDP highway concessionaire, has agreed to upgrade the Puchong Perdana Interchange following requests from the MPSJ.
A slip road would be constructed at the traffic light junction underneath the flyover in both directions (from Tractors and Puchong Jaya Selatan toll).
Persiaran Puchong Perdana would also be widened to have one extra lane at both directions.
Litrak communications head Bhavani Krishna Iyer said Litrak would start the work as soon as it received the approval.
“Some of the land we will be working on belongs to the council and we need to wait for the approval. It will take about nine months for the work to be completed,” she said.
Bhavani stressed that this was not a permanent solution and the Puchong Utama Interchange must be pushed through for a long-term solution to the traffic woes.
As-salam Mosque women’s bureau chief Noorhanim Ismail, whose mosque is located along Persiaran Puchong Perdana, welcomed the upgrade plan.
Mohd Ariffuddin Kamari from the MPSJ Engineering Department said the council would seek opinions from the residents regarding the sound barriers.
“The residents can let us know what type of sound barriers they prefer and we will forward their views to Litrak,” he said.
source: The Star January 16, 2010
It includes traffic lights for Jalan Utama 2, which will also be widened.
Plenty of space: The plot of vacant land will be used to widen the road in an effort to alleviate congestion.
MPSJ councillor Ng Sze Han said 10 developers, which had projects in the area, are supposed to contribute to the RM20mil fund according to the size and progress of their developments.
So far, only 38.5% (or about RM7.7mil) has been collected from seven developers and only one of them has fully settled its contribution.
“The rest are still going on with their projects, while three other haven’t started their projects yet,” Ng, who sits on the infrastructure committee, said.
The main part of the upgrade plan involves the construction of an interchange from the Damansara-Puchong Expressway (LDP) into Jalan Utama 2 and several upgrade works on Jalan Utama 2.
Ng said the interchange would cost RM17mil and the initial planning could only start when the council had collected at least RM10mil.
The council had also used part of the money to install traffic lights at the junction of Jalan Utama 2 and Persiaran Puchong Perdana last year.
It is also looking at widening Jalan Utama 2 by turning a part of the vacant land into lanes.
Meanwhile, Litrak, the LDP highway concessionaire, has agreed to upgrade the Puchong Perdana Interchange following requests from the MPSJ.
A slip road would be constructed at the traffic light junction underneath the flyover in both directions (from Tractors and Puchong Jaya Selatan toll).
Persiaran Puchong Perdana would also be widened to have one extra lane at both directions.
Litrak communications head Bhavani Krishna Iyer said Litrak would start the work as soon as it received the approval.
“Some of the land we will be working on belongs to the council and we need to wait for the approval. It will take about nine months for the work to be completed,” she said.
Bhavani stressed that this was not a permanent solution and the Puchong Utama Interchange must be pushed through for a long-term solution to the traffic woes.
As-salam Mosque women’s bureau chief Noorhanim Ismail, whose mosque is located along Persiaran Puchong Perdana, welcomed the upgrade plan.
Mohd Ariffuddin Kamari from the MPSJ Engineering Department said the council would seek opinions from the residents regarding the sound barriers.
“The residents can let us know what type of sound barriers they prefer and we will forward their views to Litrak,” he said.
source: The Star January 16, 2010
Saturday, November 28, 2009
Sunday, November 22, 2009
Plenitude posts lower profit for 1Q10
PETALING JAYA: PLENITUDE BHD
started its financial year ending June 30, 2010 on a lower note compared with the previous year. Net profit declined 11% year-on-year to RM11.74 million for its first quarter ended Sept 30 (1Q10). Revenue was down 14% to RM57.95 million for the quarter.In a statement to Bursa Malaysia last Thursday, the company noted that the group’s lower financial results were mainly due to lower progressive profit recognised on PROPERTIES sold, completed and handed over.It said the progressive profit recognised on properties handed over were in respect of, among others, Taman Desa Tebrau in Johor, Taman Putra Prima in Selangor, Bandar Perdana in Kedah, The Residences and Changkat View in Sri Hartamas, Kuala Lumpur and Bayu Ferringhi in Penang.It noted that "based on the group’s commitment on timely completion of the ongoing projects, the board of directors is fairly optimistic that the group would be able to continue to record satisfactory results for the current year ending June 30, 2010".The stock closed unchanged at RM2.75 last Thursday.
source: http://www.theedgemalaysia.com
started its financial year ending June 30, 2010 on a lower note compared with the previous year. Net profit declined 11% year-on-year to RM11.74 million for its first quarter ended Sept 30 (1Q10). Revenue was down 14% to RM57.95 million for the quarter.In a statement to Bursa Malaysia last Thursday, the company noted that the group’s lower financial results were mainly due to lower progressive profit recognised on PROPERTIES sold, completed and handed over.It said the progressive profit recognised on properties handed over were in respect of, among others, Taman Desa Tebrau in Johor, Taman Putra Prima in Selangor, Bandar Perdana in Kedah, The Residences and Changkat View in Sri Hartamas, Kuala Lumpur and Bayu Ferringhi in Penang.It noted that "based on the group’s commitment on timely completion of the ongoing projects, the board of directors is fairly optimistic that the group would be able to continue to record satisfactory results for the current year ending June 30, 2010".The stock closed unchanged at RM2.75 last Thursday.
source: http://www.theedgemalaysia.com
Wednesday, November 18, 2009
Plenitude to launch six new projects
KUALA LUMPUR: Plenitude Bhd plans to launch six new projects with a gross development value (GDV) of RM280 million in its financial year ended June 30, 2010.
Its executive chairman, Chua Elsie said the group has outlined several launches that includes the first ever bungalow development at Taman Desa Tebrau, Johor.
She said ongoing development projects such as 2-storey terraced houses at Taman Putra Prima, Puchong, as well as 2-storey semi-detached homes at Lot 88 and affordable terraced houses at Bandar Perdana in Sungai Petani, Kedah, will continue.
“We plan to launch our Phase 8B project in Taman Putra Prima in Puchong next year comprising 248 units of 2-storey terraced houses,” Chua told reporters after the group’s annual general meeting (AGM) here on Nov 18.
At the AGM, shareholders approved the payment of a first and final dividend of 14 sen per share less 25% income tax amounting to RM14.17 million.
The group recently rolled out its luxury semi-detached houses and high-rise resort-style condominium development called Bayu Ferringhi in Penang.
“The respond is very good. We sold almost all the units excluding the bumiputera-allocated ones,” she said.
The Bayu Ferringhi project comprises 44 semi-detached houses and a condominium tower.
Plenitude had also launched several new phases in its existing developments of 3-storey commercial units in Taman Desa Tebrau, Johor on FY2009 and a mixture of semi-detached and terraced houses in Lot 88, Sungai Petani on Nov 14.
Meanwhile, Phase 8A of Taman Putra Prima, Puchong, which consists of 197 units of 2-storey terraced houses, was launched on June 2009 and Phase 9A and 9B, made up of 72 commercial units, were launched in late 2008.
In total, the group launched four projects with a total gross development value of approximately RM350 million.
In its financial year ended June 30, 2009, the Plenitude group registered a profit after tax of RM79.8 million, the highest since the group’s listing in 2003 against revenue of RM282.7 million. Basic earnings per share stood at 59.1 sen.
“Profit for financial year 2009 was attributed to the sales of existing projects, new projects, new phases and the sale of land. Prudent management and selection of strategic project launches have been significant factors in realisation of profits,” she said.
source: http://www.theedgeproperty.com/
Its executive chairman, Chua Elsie said the group has outlined several launches that includes the first ever bungalow development at Taman Desa Tebrau, Johor.
She said ongoing development projects such as 2-storey terraced houses at Taman Putra Prima, Puchong, as well as 2-storey semi-detached homes at Lot 88 and affordable terraced houses at Bandar Perdana in Sungai Petani, Kedah, will continue.
“We plan to launch our Phase 8B project in Taman Putra Prima in Puchong next year comprising 248 units of 2-storey terraced houses,” Chua told reporters after the group’s annual general meeting (AGM) here on Nov 18.
At the AGM, shareholders approved the payment of a first and final dividend of 14 sen per share less 25% income tax amounting to RM14.17 million.
The group recently rolled out its luxury semi-detached houses and high-rise resort-style condominium development called Bayu Ferringhi in Penang.
“The respond is very good. We sold almost all the units excluding the bumiputera-allocated ones,” she said.
The Bayu Ferringhi project comprises 44 semi-detached houses and a condominium tower.
Plenitude had also launched several new phases in its existing developments of 3-storey commercial units in Taman Desa Tebrau, Johor on FY2009 and a mixture of semi-detached and terraced houses in Lot 88, Sungai Petani on Nov 14.
Meanwhile, Phase 8A of Taman Putra Prima, Puchong, which consists of 197 units of 2-storey terraced houses, was launched on June 2009 and Phase 9A and 9B, made up of 72 commercial units, were launched in late 2008.
In total, the group launched four projects with a total gross development value of approximately RM350 million.
In its financial year ended June 30, 2009, the Plenitude group registered a profit after tax of RM79.8 million, the highest since the group’s listing in 2003 against revenue of RM282.7 million. Basic earnings per share stood at 59.1 sen.
“Profit for financial year 2009 was attributed to the sales of existing projects, new projects, new phases and the sale of land. Prudent management and selection of strategic project launches have been significant factors in realisation of profits,” she said.
source: http://www.theedgeproperty.com/
Subscribe to:
Posts (Atom)