MARKET DEVELOPMENT
KUB Malaysia Eyes More Revenue From Plantation, Construction Sectors
KUB Malaysia Eyes More Revenue From Plantation, Construction Sectors
17/06/2015 (Bernama) - KUB Malaysia Bhd is confident to remain profitable and plans to generate more revenue from the plantation and construction sectors this year.
KUB's independent non-executive director, Datuk Mohd Hafarizam Harun, said for the first quarter ended March 31, 2015, the group posted a pre-tax profit of RM10.8 million, an increase of 315 per cent from RM2.6 million in the same quarter last year.
"We will allocate a capital expenditure of RM64 million for this year. This will help us increase our land base for our plantation arm, KUB Agro Holdings which currently provides more than 50 per cent profit," he said after the group's annual general meeting here Tuesday.
KUB Agro owns and manages two oil palm plantations in Johor with a combined total area of 2,660 hectares.
Mohd Hafarizam said the group's construction arm, KUB Builders, would be busy with the redevelopment of its land in Petaling Jaya to build its two office towers, known as KUB Tower.
"KUB Tower will have a gross development value of RM250 million upon its completion in two years.
"It will be the group's new iconic landmark and the redevelopment of the site will be a catalyst to its profitability," he said, adding the group would be opening five new A&W outlets this year.
KUB's independent non-executive director, Datuk Mohd Hafarizam Harun, said for the first quarter ended March 31, 2015, the group posted a pre-tax profit of RM10.8 million, an increase of 315 per cent from RM2.6 million in the same quarter last year.
"We will allocate a capital expenditure of RM64 million for this year. This will help us increase our land base for our plantation arm, KUB Agro Holdings which currently provides more than 50 per cent profit," he said after the group's annual general meeting here Tuesday.
KUB Agro owns and manages two oil palm plantations in Johor with a combined total area of 2,660 hectares.
Mohd Hafarizam said the group's construction arm, KUB Builders, would be busy with the redevelopment of its land in Petaling Jaya to build its two office towers, known as KUB Tower.
"KUB Tower will have a gross development value of RM250 million upon its completion in two years.
"It will be the group's new iconic landmark and the redevelopment of the site will be a catalyst to its profitability," he said, adding the group would be opening five new A&W outlets this year.