DBhd eyeing to be profitable in FY17

KUALA LUMPUR: Damansara Realty Bhd (DBhd) is aiming for a balanced contribution from its property and integrated facility management (IFM) businesses, which it hopes would return it to profitability in the financial year ending Dec 31, 2017 (FY17).  

The company had trimmed its pre-tax loss in the first quarter ended Mar 31, 2017 to RM1.74mil from RM3.49mil in the same quarter last year, while revenue stood at RM50.77mil compared with RM43.32mil previously.

The company had been wallowing in losses for the last three consecutive years, from FY14 to FY16.

Group chief executive officer Brian Iskandar Zulkarim said the company had embarked on a strategic restructuring exercise which entailed the restructuring and integration of its IFM solutions business and expansion of its project management and consultancy (PMC) services to support its property development ventures. 

Under the revamp scheme, DBhd has integrated three of its subsidiaries under the IFM umbrella, namely TMR Urusharta (M) Sdn Bhd, HC Duraclean Sdn Bhd and Metro Parking (M) Sdn Bhd. 

“We are actively bidding for more projects under the IFM sector and extending our existing services to the Petronas Refinery and Petrochemical Integrated Development. We have also received invitations to participate in other projects,” he told a media briefing today.

He said that the group had also secured new IFM and PMC contracts, estimated to be worth over RM250mil.  On the property segment, Brian Iskandar said the company is currently engaged in four projects in Kuantan, Pahang, Johor Bharu and Putrajaya, of which two would be launched this year while the other two were in the development stage.

“We will be streamlining the group’s property portfolio to revive or start new projects to improve margins, cash flow and bottomline performance,” he added.  DBhd’s landbank stood at 222.6 hectares, mostly located in Johor Bharu and Kuantan - Bernama.