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Boustead Holdings targets 25% annual revenue growth from property

KUALA LUMPUR: Boustead Holdings Bhd hopes to achieve 25% annual growth in terms of revenue from its property segment, said group managing director Tan Sri Lodin Wok Kamaruddin.

He said on Tuesday, Nov 2 the property segment contributed about 20% of group revenue at present.

He was speaking to reporters after the signing ceremony of its medium-term notes programme to raise RM1 billion to fund its acquisitions and pare down borrowings, Lodin said from the first tranche of the debt notes of RM620 million, RM350 million would be used to complete its acquisition of Pharmaniaga Bhd.

Another RM100 million would be for plantation assets acquired from Golden Crop Returns Bhd, and the remainder as working capital and to expand its property division.
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