KUALA LUMPUR (June 18): Mulpha Land Bhd announced it has received approval from its shareholders to be renamed as Thriven Global Bhd. The group said the change in its name signifies the company’s new leadership, focused business plans and positive growth trajectory.
“Combining ‘thrive’ and ‘driven’, and true to the meaning of the two words, Thriven, under its new management team, plans to be a leader in the property market, set new standards and build innovative ‘forward living’ lifestyle projects for its customers,” it said in a statement today.
Ghazie Yeoh Abdullah, the group’s executive chairman cum group managing director, said as part of the name-change, Thriven will focus on growing its three business divisions, namely the property development and investment, hospitality and lifestyle retail, and facility management.
“Thriven plans to build the company over the next five years to generate annual revenues of RM500 million. It expects to achieve this by elevating the company’s brand profile, increasing its land bank via outright purchase or joint ventures, and engaging and building the confidence of land owners to work with it.
“True to its new company name, Thriven will continue to ensure operational efficiency, maximize resources, acquire and enlarge our land bank, develop more affordable and luxury properties, establish a stronger presence in the property market and register better revenues,” Ghazie added.
Mulpha Land, now known as Thriven Global, closed 2.5 sen or 2.91% higher today at 88.5 sen, for a market capitalisation of RM211.97 million.
TOP PICKS BY EDGEPROP
Paisley Serviced Residences, Tropicana Metropark
Subang Jaya, Selangor