INTERVIEW: Malaysia MK Land Expects Pft Growth From FY07

- January 21, 2006

   By Carolyn Lim
  Of DOW JONES NEWSWIRES

KUALA LUMPUR (Dow Jones)--Malaysia's MK Land Holdings Bhd. (8893.KU) expects to reverse the past few years of sliding profits starting with the year that ends June 2007, senior executives at the homebuilder said.

That financial year will also mark the start of development of luxury houses at MK Land's flagship Damansara Perdana project, Executive Director Kasi Palaniappan told Dow Jones Newswires recently.

The houses - the first MK Land is building in the capital - are aimed at offsetting slower demand for apartments, which have been the company's main product thus far. MK Land is Malaysia's seventh-biggest homebuilder in terms of market capitalization.

"By doing landed property, we are opening another avenue. If (apartment sales) slow down, we have got another product, another market coming up so we can boost our revenue," Kasi said.

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