PJ Development sees Vietnam as launch pad for forays into Asean

PROPERTY developer PJ Development Holdings Bhd (PJD) sees Vietnam as its launch pad for forays into the rest of Asean, and is aggressively pursuing projects in properties, hotel and tourism management, construction and power cabling there. 

“We are talking to prospective clients there, but things are still at the preliminary stage,” its managing director Wong Ah Chiew said after Housing and Local Government Minister Datuk Seri Ong Ka Ting launched its Hartamas Regency 1 condominium in Kuala Lumpur last Friday. 

“We will be more active there and will be speeding things up. From Vietnam, we will want to branch out to other Asean markets,” he said, adding that it set up a representative office in Vietnam two months ago.  

He added that although China presents great prospects to the group, it would not jump into the Chinese market yet, preferring to take a prudent approach. 

On its hotel management business, he said potential clients from China and Sarawak and Sabah had expressed interest in franchising its Swiss Garden hotel chain.  

He, however, declined to give details on when the group would grant franchises to selected clients. 

“If we grant the franchise, we would, in the initial stages offer our consultancy expertise such as design as well as building materials needed for the hotels. After that, we would manage the establishments,” he added.  

PJD, through hotel management services company Swiss-Garden International (M) Sdn Bhd, manages the five-star Swiss-Grand Hotel Bondi Beach in Sydney, the Swiss-Garden Hotel in Kuala Lumpur, the Swiss-Garden Resort in Kuantan and Damai Laut, Damai Laut Golf & Country Club and Swiss-Inn in Kuala Lumpur and Sungai Petani.  

On a different note, Wong said the increased property labour costs would marginally affect its profit margins this year. However, he did not see it affecting its projects and the delivery of homes to buyers.  

“We had always worked ahead of our projects and we would continue to do so. We had invested in advanced construction technology systems and machinery for previously labour-intensive areas,” he added.  

PJD is currently tendering for new building projects locally worth RM200mil.  

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3

Next In Business News

Bank Islam continues enhanced targeted repayment aid
UK probe of Gupta’s GFG a big test for beleaguered SFO
ESG provokes laughter and nightmares
Soros bought up stocks linked to Bill Hwang’s Archegos implosion
KLCI futures to trade higher next week
CPO futures to move higher next week
Biden rescinds Trump-era health insurance requirement for new immigrants
Venezuelan court seizes newspaper office in defamation case
FTC officials say 7-Eleven purchase of Speedway chain likely illegal despite closing
GLOBAL-LNG-Asian spot prices hit $10 on global supply disruptions

Stories You'll Enjoy