MK LAND EXPECTS DOUBLE-DIGIT GROWTH IN SALES

PETALING JAYA, Aug 12 (Bernama) -- MK Land Holdings Bhd expects double-digit
growth in sales annually to RM1 billion within five years mainly from its
Armanee terrace condominium, Rafflesia and Metropolitan Square projects in
Damansara Perdana.
Its executive chairman/chief executive officer, Tan Sri Mustapha Kamal
Abu Bakar, said with the expected good response to the projects, the company was
confident of achieving RM600 million in sales by 2010.
"The three projects, worth over RM3.5 billion, will last the company for the
next five year," he told reporters after handing over the motorcycles to the
Royal Malaysia Police in Damansara Perdana here today.
He said the company recorded RM52 million in sales in July, exceeding its
initial target of RM42 million.
Mustapha Kamal said the company recently sold 178 units of the Armanee
Terrace condo (Wing C) to a local company.
He, however, declined to give details.
Mustapha Kamal said the company was optimistic of turning in positive result
for the fourth quarter ended June 20, 2009 despite a slowdown in property
market.
The company is expected to announce its fourth-quarter result on Aug 28.
He said the company recorded a profit in the third quarter due to its
aggressive sales. -- BERNAMA
WNA THS