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Country Garden appoints new president for Malaysia-Singapore market

GELANG PATAH (Aug 25): Country Garden Group has appointed Peng Guoqiang (pictured) as its regional president for Malaysia-Singapore.

Former president, Su Baiyuan will stepped down from his position. Despite the changes, he is still the director general manager of Country Garden Pacificview Sdn Bhd, executive director and vice president of Country Garden Group, and continues to take charge of overseas markets.

The newly appointed successor, Peng is now the new regional president. He has years of working experience in Malaysia-Singapore Region, which made him familiar with the local market and business development. He has rich experience and outstanding capabilities. He was the regional vice president in charge of company operations and project management. With the recent changes, our company's business goal of developing the Malaysian market will remain unwavering, said Country Garden.

Meanwhile, Country Garden recorded a 14% year-on-year (y-o-y) increase of total sales to RMB303 billion (RM196 billion) in the first half year of 2021. The group also registered revenue of RMB 234.93 billion (+27% yoy) and net profit of RMB22.42 billion (+2.3% yoy).

“Country Garden's available cash balance is as high as RMB186.24 billion, with ample cash on hand. These data shows that Country Garden continues to grow steadily. It has achieved good performance in terms of equity sales, area growth, return rate and operating performance, maintaining a leading position, demonstrating the group's good business development and sound financial status.

“We are hoping that the government will introduce sufficient economic recovery measures and related preferential policies to assist businesses to revive post pandemic. Country Garden Malaysia - Singapore region will put endless effort and work hand in hand with the government, industry, and industry players to promote the recovery and development of the local economy,” the group said.

While the pandemic is still severe and affecting construction, the company’s projects operations as well as disrupting the rhythm of business development, the group said the situation has not changed the company’s determination and belief in exploring the local market.

“During pandemic, the property services adopted a variety of measures to ensure the residents and staff’s safety. In addition to the movement control, the property management has come out with value-added services such as food delivery and errand services.

“All these to ensure everybody’s wellbeing and safety while abiding to the movement restriction during pandemic,” the group said.

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