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Stock: [ACME]: ACME HOLDINGS BERHAD
2022-02-24 07:43 | Report Abuse
In their Quarterly report: https://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=217446&name=EA_FR_ATTACHMENTS
14. Prospects
After the completion of our highly successful Quayside @ Clear Water Bay development in
2017, the Property Development Division is currently gearing up for 2 upcoming new launches.
The Group will be embarking on the final phase of the project which involves 3 blocks of 12-
storey condominiums (404 units) located in Teluk Air Tawar, Seberang Perai Utara, Penang on
a piece of 11-acre land. The Group targets to launch this development project in the first quarter
of year 2022 and forecasted to generate a gross development value of approximately
RM198.50 million.
In addition, the Group intends to launch an affordable housing project consisting of 2 blocks of
39-storey apartments (646 units) on 2 adjoining parcels of freehold development land in Air
Itam, Penang with a total land area measuring approximately 4.1 acres in the second quarter
of year 2022. The gross development value is forecasted to be approximately RM194.37
million.
As disclosed in Note 10 Changes in Composition, the Company had completed the disposal of
its entire equity stake in one of its wholly owned subsidiaries, Supportive Technology Sdn Bhd
on 21 December 2021. Going forward, the Group intends to focus its resources on property
development segment which is expected to contribute positively to the Group’s future earnings
and improve the Group’s financial performance and prospect.