Talam Transform plans new launches in FY2017

KUALA LUMPUR (July 28): Property developer Talam Transform Bhd is targeting new launches in the financial year ending Jan 31, 2017 (FY17).

Talam Transform executive director Chua Kim Lan said the once-blacklisted property developer is in the midst of getting approvals from the authorities to be able to build again.

"We are in the midst of submitting. We are targeting next [financial] year to have new launches," she told reporters after the annual general meeting.

She said the new launches would be landed and condominium residential projects in Ulu Klang and Selayang, without disclosing the gross development value (GDV) of the launches.

The company currently has a total land bank of about 1,200 acres in Selangor, with a GDV of RM5 billion to RM6 billion.

Talam Transform saw its net loss narrow 74.7% on-year to RM4.16 million or 0.12 sen in the first quarter ended April 30, 2015 (1QFY16) compared with RM16.47 million or 0.47 sen previously, on gains made from the disposal of development lands and stocks, higher other operating income and lower finance cost.