Land and General Berhad and its group of companies were incorporated in 1964 and was engaged in businesses such as property development, property investment, education and plantation.
The group has now grown and transformed into a premier property developer specializing in developments of condominiums and serviced apartments.
The company’s growth can be seen from its rise in its total assets and net assets, which increased nearly one and a half times from 2012 to 2016 respectively. In addition to that, the net assets per share grew by 36% over the same period.
However, the firm’s pre-tax profit decreased to RM127.2 million, from RM192.3 million last year. This was due to a lower revenue of RM342.1 million, compared to RM465.8 million previously. These revenues and profits were mainly derived from the successful completion and handing over of Damansara Foresta Phase 1.
The current tight lending rules imposed by Bank Negara Malaysia and the sluggish economy has not affected L&G, as the firm has continued to grow steadily.
According to the Managing Director Low Gay Teck, since 2009 the firm has start focusing on high-rise residential properties which provide innovative and functional layouts, state-of-the-art facilities, as well as round the clock security features.
Being the pioneer in township developments which include the development of Bandar Sri Damansara during the 90s, the firm will once again move its direction towards developing townships to diversify their offerings.
Currently, the firm’s RM79.7 million of unbilled sales and RM2 billion worth of upcoming developments in the pipeline will keep the group busy for the next few years.
“Our upcoming projects include Astoria @ Ampang, Damansara Foresta Phase 2, 3 and 4 @ Bandar Sri Damansara, Sena Parc @ Senawang, U10 @ Shah Alam and redevelopment at Sungai Jernih,” added Low.
Mangalesri Chandrasekaran, Editor at PropertyGuru, edited this story. To contact her about this or other stories email mangales@propertyguru.com.my
