Bertam Alliance Casabella bungalows soft-launched

KUALA LUMPUR: Bertam Alliance Bhd is optimistic that its high-end bungalow project, Casabella, in Kota Damansara in Petaling Jaya, has soft-launched the project two months ago.

Its Executive Chairman Ng Sing Hwa said the official launch is set for this July.

"With the Malaysian economy projected to grow beyond five per cent for this year, we are optimistic that the housing market will be buoyant again. This is evident from the recent announcements of the substantial locked-in
sales achieved by some of the major developers in the country.

"The current housing market condition is certainly favourable to the launch of the Casabella," he told reporters after the group's annual general meeting (AGM) here on Wednesday May 26.

For the financial year ended Dec 31, 2009, Bertam recorded a lower pre-tax profit of RM4.188 million from the RM5.788 million recorded previously. Revenue also decreased to RM39.759 million from RM45.182 million previously.

"This was due to the delay in launching the Casabella project as all necessary approvals were obtained in the last quarter of 2009. I am confident the group will remain profitable for the current financial year," he added. -- Bernama
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