Titijaya 'confident' of achieving RM600m property sales in FY18

SUBANG JAYA (Sept 12): Titijaya Land Bhd said it is "confident" of achieving up to RM600 million worth of new property sales in the current financial year, as the property developer prepares to launch RM1.8 billion worth of projects.

Titijaya chief financial officer Edmund Tan said the group has set its sales target at RM500 million to RM600 million for financial year ending June 30, 2018 (FY0218), after breaching the RM300 million mark in FY2017.

“Our launches have been held back for the past year or more, but we are gearing up this year”, Tan told reporters after the group’s extraordinary general meeting here today.

He said the group’s two high-rise mixed development in Kuala Lumpur, namely 3rdNvenue along Jalan Ampang and Riveria City at Kuala Sentral, will bring “significant contribution” to Titijaya’s FY2018 performance.

At 12:30pm today, Titijaya shares settled at RM1.51, for market value of RM632.43 million. The company's latest-reported net assets per share stands at RM1.65. — theedgemarkets.com

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