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Press Release: Land & General Berhad 58th Annual General Meeting Press Release

Press Release: Land & General Berhad 58th Annual General Meeting Press Release

Full year results 

? Group posted full year revenue of RM134.9 million for the financial year ended 31 March 2021

? Compared to RM139.7 million in the previous year, Group’s revenue for the year was marginally  lower 

? Marginally lower revenue was due to vacant possessions handed over for two projects, namely  Astoria Ampang Phase 1 in Ampang and Sena Parc Phase 1A in Senawang, Negeri Sembilan

? Group’s full year profit before tax was RM38.3 million for financial year ended 31 March 2021

? Compared to RM26.2 million in the previous year, Group’s profit before tax for the year was 46%  higher 

? Higher full year profit before tax was due to: 

o higher sales and progress billings from its on-going Damansara Seresta project located in  Bandar Sri Damansara; and 

o lower development cost incurred arising completion and handing over of Astoria Ampang  Phase 1 and Sena Parc Phase 1A mid-way through the financial year

On-going development projects 

? L&G Group presently has 3 on-going projects, namely: 

o Astoria Ampang Phase 1 comprising 506 units of service apartments located in Ampang,  Selangor; 

o Sena Parc Phase 1A comprising 163 units units of double storey terrace houses in Senawang,  Negeri Sembilan. Phase 1C comprising 54 units of double storey terrace houses was recently  launched in May 2021; 

o Damansara Seresta comprising 452 units of condominium located next to Bukit Lanjan Forest  Reserve in Bandar Sri Damansara. 

? Vacant possessions at Astoria Ampang Phase 1 and Sena Parc Phase 1A were both handed in  September 2020.  

? The number of units sold as at 31 August 2021 for its on-going projects are: 

o Astoria Ampang Phase 1 (total 506 units of service apartments) – 390 units or 77%

o Sena Parc Phase 1A (total 163 units double storey terrace houses) – 158 units or 97%

o Sena Parc Phase 1C (total 54 units double storey terrace houses launched in May 2021) – 7 units or 13% 

o Damansara Seresta (total 452 units of condominiums) – 288 units or 64% 

Upcoming launches 

? The Group plans to launch two new project phases for the remaining of this financial year ending  31 March 2022, namely: 

o Astoria Ampang Phase 2 (506 units of serviced apartments in Ampang); and

o Sena Parc Phase 1D (162 units of double storey terrace houses) in Senawang, Negeri Sembilan 

? The combined Gross Development Value for the planned launches above (and including Sena Parc  Phase 1C which was launched recently in May 2021) in this financial year ending 31 March 2022 will  be in excess of RM450 million  

Dividends declared 

? The Board of Directors of L&G is pleased to announce that the shareholders have approved a final  single tier dividend payment of 0.5 sen per share in respect of financial year ended 31 March 2021. Entitlement date and payment date have been fixed on 5 October and 18 October 2021 respectively.  

-End of Press Release-

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Charles Tan The Founder The Writer Kopiandproperty
Charles Tan

Charles is Founder of kopiandproperty.com He writes from his investment experience for the the past 20 years in investments including property, stock, unit trust and more as well as readings and conversations with many property gurus in the industry. kopiandproperty.com is an independent property blog which is not affiliated to any media company, property developer or even real estate agencies.

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