Monday, March 13, 2006

Brighter days ahead for MK Land

MK LAND Holdings Bhd may be looking at brighter days again if its plans to restructure the group's operations and introduce a more impressive suite of higher-end property products showed results.

Instead of building only high-rise apartments and condominiums in its flagship Damansara Perdana development, the company now wants to offer landed residences, including semi-detached houses and bungalows, from June onwards.

Next year MK Land will be ready to kick off its 98-acre Setiawangsa project that has an indicative gross development value of RM500mil.

Unperturbed by talk of a supposed rift between them, executive chairman Tan Sri Mustapha Kamal Abu Bakar and executive director Datuk P. Kasi, are fervently working to introduce more positive changes to the organisation after the company's sales and earnings were eroded last year.

“We expect this year to be the worst year for MK Land, and things should start to improve next year,” Kasi told StarBiz at the MK Land head office in Damansara Perdana.

With a consolidation exercise to revamp the company's operations, the group should be more efficient and profitable going forward.

Datuk P Kasi (left) and Tan Sri Mustapha Kamal.
Mustapha said the company's focus was not to launch a high volume of properties, "but we are looking at higher value products that will spur the company's earnings potential."

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