Crest Builder to focus on property development

Crest Builder executive director Eric Yong

KUALA LUMPUR: Construction outfit Crest Builder Holdings Bhd, with an external orderbook of RM350mil, intends to focus on property development to make better profits.

Executive director Eric Yong said on Wednesday that against the backdrop of soft property market, the company sees property division taking the lead after its construction division with property making up 70% to its bottom line.

He said its RM198mil Anggun project in Jalan Sultan Ismail would only allow its orderbook to stretch up till 2017.

"As such, we are still on the lookout to replenish our orderbook," he said after the company AGM here earlier.

The group expects the revenue ratio of construction and property segments to be 50:50 this year.

Going forward, Yong said it should be performing operationally better this year and see an improvement to the bottom line driven by sales from its Alam Sanjung property project in Shah Alam, which has a GDV of RM300mil.  This is almost 70% sold out.