Impossible gsb let those pix takeover loh. Sima group oldtimer, an+ Andrea so beauty and smart. This stock once you get in, dun geel like go out like dik into xxxx lor.
what i know is they finally launch a new housing project in Bentong, Pahang as per they mention last year near October. A 33 unit of double storey 22 X 80 & 22 X 103ft, the outlook design is modern like KL. A boutique hotel with shop lot (i not sure how many) the event will took place at Taman Bentong Makmur sale office this 7 & 8 Feb.
GSB Group expects to be back into the black in 2015
February 4, 2015
GSB Group Bhd expects its new property business will contribute almost all of the group’s profits for the 2015 financial year, and take the company back into the black.
GSB MD Andrea Gan Pik Mui said the company’s diversification into property is part of the strategy to bring back profitability and sees the property division overtaking its traditional core optical disk business in contributions to the bottom line.
She said the group has RM291.5 million of new projects in its orderbook, comprising commercial and residential property developments.
“We have a RM55.3 million residential project on 2.42ha in Klang, a RM133 million mixed development in Seksyen 15, Shah Alam and a RM103.2 million commercial project in Kelana Jaya. We also have ongoing projects in Bentong and Johor Baru worth RM572.83 million, making the total gross development value (GDV) of our ongoing and future projects RM864.33 million.
“We see the property business overtaking the optical disk business for this financial year and turning the company back to black. GSB is already making profits at the moment,” said Gan.
Last Friday, GSB received shareholders approval for the proposed acquisition of two plots of land measuring 0.9ha in Shah Alam for RM20.5 million from PKNS Engineering and Construction Bhd.
The acquisition will also include the development orders granted to the land.
“The acquisition should be completed within the third-quarter of this year (3Q15) and the layout would comprise of 359 units of service apartments and retail lots at the bottom.
“The total GDV has not been finalised but as for now it is RM133 million. We foresee the launch to be in 1H15 and expect it to be completed within four years,” she said.
Gan said its optical disk manufacturing business has not been making profit due to technological changes that have reduced the demand for the product.
“Nonetheless, we are still carrying on with the manufacturing of optical disks,” said Gan.
On the outlook for the property market, Gan said its projects in Bentong and the Klang Valley have been performing well, despite a slight slowdown in its project in Johor.
“Bentong is a mature township and our development is located in a strategic position.
We have also built a strong brand there.
“As for the project in Johor, there is an oversupply in the market but our project is not too affected as we are focused on the end users and is targeted towards the middle-income market,” said Gan.
Gan said GSB is looking for further opportunities in its property business, and at the possibility of a joint venture to reduce its initial cash outlay.
For March 31, 2014, GSB recorded a total revenue of RM11.73 million, of which RM8.03 million came from its optical disk business, while the remaining RM3.7 million came from its property business.
The optical disk business recorded a loss of RM0.87 million for the financial period while the property business recorded a loss of RM0.5 million, making the total loss to RM1.37 million.
Calvin still drop by G Residence from time to time. Hope to see sales move faster. China Developers promise to promote Iskandar property to China buyers. So there is hope.
Paperplane is engrossed with Andrea while Calvin is looking for Better Sales! Will post again on further news.
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....
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Posted by paperplane > 2015-01-25 10:41 | Report Abuse
Impossible gsb let those pix takeover loh. Sima group oldtimer, an+ Andrea so beauty and smart. This stock once you get in, dun geel like go out like dik into xxxx lor.