GOMBAK (Aug 24): Hua Yang Bhd is confident of achieving its property sales target of RM500 million, underpinned by two launches in the second half of this year.

Hua Yang chief executive officer and executive director Ho Wen Yan said the company aimed to roll out two affordable residential projects, one each in the Klang Valley and Penang. These projects have a combined gross development value of RM721 million.

Although the property market remains challenging, he said the "feedback for these two new projects is positive". Ho was speaking to reporters today after Hua Yang's annual general meeting.

He said Hua Yang achieved property sales of RM53.2 million in the first quarter ended June 30, 2016.

According to him, Hua Yang has unbilled sales at RM410.07 million, which will sustain the group's performance for at least a year.

At 12.30pm, the counter rose 2 sen or 1.1% to RM1.85 for a market capitalisation of RM485.75 million. — theedgemarkets.com

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