12-month review For the financial year ended 31 July 2023, the Group recorded its higher revenue of RM4.08 billion, an increase of 2.3% compared to the preceding financial year of RM3.99 billion. Operating profit also came in higher at RM589.6 million compared to the preceding financial year of RM561.0 million. The higher revenue and operating profit were contributed by the better performance from Property Division.
For the current financial year, the Division saw strong take-up rates for its property launches in Pulai Mutiara 2, Scientex Sungai Petani, Scientex Kota Tinggi and Bandar Scientex Jasin. Moving forward, we will continue to launch new phases of affordable housing across its developments in Peninsular Malaysia to meet the robust demand by leveraging on its branding and strategic locations. The latest land acquisitions were located in Jenjarom in Selangor, Tebrau and Kulai in Johor Bahru, which are expected to be completed in the coming financial year 2024 and will contribute positively on the Division’s performance in the near future.
Barring unforeseen circumstances, the Property Division is optimistic that demand for its affordable housing will remain resilient for the coming financial year.
In respect of the financial year ended 31 July 2023, the Board of Directors recommended a single tier final dividend of 5 sen per ordinary share (single tier final dividend for financial year 2022 of 5 sen per ordinary share). The dividend will be payable on 26 January 2024, subject to shareholders’ approval at the forthcoming Annual General Meeting of the Company.
Silly company developing low cost houses in Johor, Malacca, Negeri Sembilan, Klang valley etc… spoiling prime landbank… should hv follow Matrix managing landbank, by providing holistic and futuristic concept, adding more values to property buyers… creating more non environmental friendly plastics that harm the planet!
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....