SBC CORP Bhd is planning to launch some RM100mil to RM150mil worth of property projects in the next 12 to 15 months.

Managing director Sia Teong Heng said the projects would be in Kuantan, Kota Kinabalu and two in Kuala Lumpur.

''The new property development is related to the existing projects that we have for the last five to six years and is in addition to what we have already planned,'' he told reporters after the group’s AGM in Kuala Lumpur yesterday.

The company will launch condominiums in Park Avenue at Mastiara, Kuala Lumpur, next year. This will be followed by Signal Hill in Kota Kinabalu, a landed gated development offering bungalows and semi-detached houses, which will be opened to the public next month.

Sia Teong Heng

About 1,000 affordable houses in Perkampungan Seri Mahkota Aman in Kuantan, Pahang, and houses at the foothills of Genting Highlands, Bandar Ligamas in Batang Kali, will complete the construction and property developer's offering of four main housing projects.

Sia said the current projects, started five years ago, were reaching maturity. ''When the townships have reached a level of maturity, we try to support it by adding more value-added commercial units to meet the needs of residents,'' he added.

He said the launch of SBC's new properties, which would be staggered, would keep the company busy for the next five years.

Last year, properties contributed 30% to 50% to the group's total revenue.

The group recorded an increased pre-tax profit of RM7mil for the year ended March 31, on the back of a turnover of RM86.32mil.

Formerly known as Siah Brothers Corp Bhd, SBC has a paid-up capital of RM82.44mil on Bursa Malaysia main board with interest in construction, housing development and manufacturing. – Bernama

Source : The Star  24/09/2004