An article on Damansara Perdana developer

From the Star last month which is worth a re-read...

Property developer MK Land Holdings Bhd is confident of getting back on its profit path after achieving better results in the first half of its financial year, says chairman Tan Sri Mustapha Kamal Abu Bakar.

He said the company had managed to increase sales in the first six months ended December 31 and has chalked up RM150 million in sales in its financial year-to-date.

At a media briefing Friday, Mustapha said: “Our turnaround plan for recovery seems to be working out well where everyone in the group is involved in the sales of our properties,”

“We can’t just rely on our sales team to boost sales. Everyone (in the group) needs to help do the sales and they are all rewarded if they manage to sell the property,” he said.

Major projects in the group’s pipeline include developments in Damansara Perdana, Damansara Damai and Ipoh, offering a total of 5,639 housing units and a gross development value of RM4.1 billion.

MK Land’s continuing turnaround has enabled it to address cashflow requirements and prompt payment of debt, Mustapha said adding that the company had no plans to cut jobs.

“We will swim or sink together regardless of whatever is happening outside there. In fact, the workers are still receiving bonuses from the company,” he said.