Plenitude to launch six new projects

KUALA LUMPUR: Plenitude Bhd plans to launch six new projects with a gross development value (GDV) of RM280 million in its financial year ended June 30, 2010.

Its executive chairman, Chua Elsie said the group has outlined several launches that includes the first ever bungalow development at Taman Desa Tebrau, Johor.

She said ongoing development projects such as 2-storey terraced houses at Taman Putra Prima, Puchong, as well as 2-storey semi-detached homes at Lot 88 and affordable terraced houses at Bandar Perdana in Sungai Petani, Kedah, will continue.

“We plan to launch our Phase 8B project in Taman Putra Prima in Puchong next year comprising 248 units of 2-storey terraced houses,” Chua told reporters after the group’s annual general meeting (AGM) here on Nov 18.

At the AGM, shareholders approved the payment of a first and final dividend of 14 sen per share less 25% income tax amounting to RM14.17 million.

The group recently rolled out its luxury semi-detached houses and high-rise resort-style condominium development called Bayu Ferringhi in Penang.

“The respond is very good. We sold almost all the units excluding the bumiputera-allocated ones,” she said.

The Bayu Ferringhi project comprises 44 semi-detached houses and a condominium tower.

Plenitude had also launched several new phases in its existing developments of 3-storey commercial units in Taman Desa Tebrau, Johor on FY2009 and a mixture of semi-detached and terraced houses in Lot 88, Sungai Petani on Nov 14.

Meanwhile, Phase 8A of Taman Putra Prima, Puchong, which consists of 197 units of 2-storey terraced houses, was launched on June 2009 and Phase 9A and 9B, made up of 72 commercial units, were launched in late 2008.

In total, the group launched four projects with a total gross development value of approximately RM350 million.

In its financial year ended June 30, 2009, the Plenitude group registered a profit after tax of RM79.8 million, the highest since the group’s listing in 2003 against revenue of RM282.7 million. Basic earnings per share stood at 59.1 sen.

“Profit for financial year 2009 was attributed to the sales of existing projects, new projects, new phases and the sale of land. Prudent management and selection of strategic project launches have been significant factors in realisation of profits,” she said.

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