KUALA LUMPUR: Plenitude Bhd is planning six more launches with a combined gross development value (GDV) of RM280 million for its current financial year ending June 30, 2010 (FY10), said its executive chairman Chua Elsie.

The launches will include its first bungalow development, which is located at Taman Desa Tebrau, Johor, and the next phases of ongoing projects comprising double-storey terrace houses at Taman Putra Prima in Puchong, Selangor, and double-storey semi-detached and terrace houses at Bandar Perdana in Sungai Petani, Kedah.

“We plan to launch our Phase 8B project in Taman Putra Prima in Puchong next year comprising 248 units of semi-detached houses,” Chua told reporters after the group’s AGM here yesterday.

She said the group had rolled out its latest project, the luxury Bayu Ferringhi semi-detached houses and high-rise condominiums in Penang last week. “The response was very good. We sold almost all units excluding the bumiputera allocated units,” she added.

In 2008, the group launched several phases in its existing developments comprising double-storey terrace houses and commercial units with a combined GDV of RM350 million.

Chua said Plenitude was looking for land bank at suitable locations to add to its existing portfolio of more than 720ha. She also said the company was focusing on building more affordable houses.

Plenitude posted a 1.5% rise in net profit to RM79.78 million in FY09 — its highest since the group’s listing in 2003 — from RM78.63 million in the previous year, while revenue fell 18.7% to RM282.76 million from RM347.84 million.

Chua said the FY09 profit was attributed to the sales of existing projects, new projects, new phases and the sale of land.

At the AGM, Plenitude’s shareholders approved the payment of a first and final dividend of 14 sen per share less 25% income tax amounting to RM14.17million.


This article appeared in The Edge Financial Daily, November 19, 2009.