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.
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$1 = 3.3005 Malaysian ringgit