GuocoLand Malaysia Bhd has announced revenue of RM77.8 million for the first quarter of financial results ended 30 September 2018 (FY2019), a decrease of 55% over compared to RM173.6 million in the same quarter of the prior year.
The decrease in first quarter FY2019 revenue is primarily due to lower sales achieved of completed units.
Datuk Edmund Kong, Group Managing Director of GuocoLand Malaysia Berhad stated, “Despite the current challenging market and consumer sentiments, we believe the Group will be able to regain its sales momentum, given its well-located land banks in the Klang Valley.”
“As demonstrated by the positive take-up rate of our newly launched residential development in Cheras – Emerald Hills, we can see that the demand is still firm for quality products at affordable prices especially landed properties in good locations. Emerald Hills is a 47-acre freehold low-density residential development that sits amid hilly green with a calming central lake at its heart. The gated and guarded development comprises 2 & 3-storey garden terrace houses and lake front condominiums. The 21-acre open spaces for various facilities are designed to enhance the quality of life of residents.”
“Our next significant offering shall be a Transit Oriented Development – Emerald 9, an integrated residential and commercial project located in the mature neigborhood of Cheras, which has garnered strong interest from a range of potential buyers. At the same time, we will maintain our focus of launching affordable properties at townships such as Emerald Rawang and Emerald Sepang, where demand for these properties remains strong,” he said.