By BERNAMA
MK Land Holdings Bhd, one of the largest property developers in Malaysia, welcomes requests from state governments to help build affordable homes.
Group chief executive officer Lau Shu Chuan said the company is more than happy to help them because it has the experience in the building of affordable homes.
“MK Land founder Mustapha Kamal Abu Bakar is well known as ‘King of Affordable Housing’,” Lau told reporters after the company’s annual general meeting today.
Lau said the company is not involved in the government’s affordable housing project 1Malaysia People’s Housing.
He said currently, revenue from affordable houses accounts for about 50% of the company’s revenue, up from 20% to 30% previously.
Lau said the company is now focusing on the northern part of Peninsular Malaysia, like Perak, because it offers more potentials.
He said the company is expected to spend about RM7 million on resort development, of which some RM 5 million will be used to refurbish on its Bukit Merah theme park.
For financial year ended June 30, 2015, MK Land’s pre-tax profit rose to RM73 million from RM71.4 million in 2014. Its revenue, however, fell to RM488.3 million from RM488.7 million previously.
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