Ken Holdings Expects Sustainable Earnings From Menara Ken @TTDI - See more at: http://www.iproperty.com.my/news/10044/ken-holdings-expects-sustainable-earnings-from-menara-ken-ttdi#sthash.ib9wyKe1.dpu
Date：2015/04/14
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KUALA LUMPUR, April 13 (BERNAMA) -- Property developer, Ken Holdings Bhd, expects its Menara Ken @TTDI project to contribute sustainable earnings of over RM10 million yearly, says group executive chairman, Datuk Tan Boon Kang.
He said the income would be secured from renting the double platinum corporate offices, which were scheduled to be completed by year-end.
"The building, among others, comprises platinum-grade office spaces, art gallery, performing arts theatre and a variety of food and beverages outlets," Tan told reporters after the company's annual general meeting here Monday.
The Menara Ken @TTDI has received awards for its sustainable design, architecture and green features.
He said the property developer would kick-start another project in Kota Baharu, Kelantan by year-end.
With a gross development value of between RM70 and RM80 million, the project would involve service apartments and a 150-room hotel, just next to the Kota Baharu Mall, he said.
"We will also be working on our Ken Rimba 2 project by year-end or early next year," he said, adding that the it would be a 240-unit condominium at Shah Alam.
At the moment, the company has a landbank of 40.47 hectares in Pahang, Melaka, Penang, Perak and Johor Baharu, coupled with unbilled sales of RM230 million.
For financial year ended Dec 31, 2014 its revenue rose by 63.3 per cent to RM91.1 million from RM55.83 million a year ago.
Its pre-tax profit increased by 53.1 per cent to RM43.74 million from RM28.26 million the previous year.