Hua Yang plans to double revenue -The Edge
Hua Yang Bhd expects to continue selling
affordable houses - priced less than 500,000 ringgit ($151,500)
- as its core strategy to double its revenue to 800 million
ringgit in five years.
For the financial year ended March 31, 2013 (FY2013), it
posted a net profit of 70.47 million ringgit or 36.58 sen per
share on the back of 408.67 million ringgit revenue.
Hua Yang chief executive officer Ho Wen Yan said the group
caters to first home buyers and the affordable market segment,
where demand outstrips supply.
"First home buyers are a very good market. If you look at
our (Malaysia's) demographic, about 60 percent of our population
is below 40 years old," he said.
NOTE: Reuters has not verified these stories and does not
vouch for their accuracy.
(Kuala Lumpur newsroom, +603 2333-8046, fax 603 2161-3340,
($1 = 3.3005 Malaysian ringgit)