DBhd sees better performance on restructuring

  • Business
  • Tuesday, 03 Jul 2012

JOHOR BARU: Damansara Realty Bhd (DBhd) is optimistic that its financial performance will improve in the current financial year ending Dec 31 onwards.

Chairman Kamaruzzaman Abu Kassim said the company’s ongoing restructuring exercise would help enhance its existing businesses and introduce new income-generating assets.

He said DBhd had successfully implemented phase one of the exercise dubbed “clean-up” and would embark in phase two known as “revival”.

Kamaruzzaman said the first phase of the exercise was aimed at fortifying the company’s balance sheet and improving its operational efficiency.

“Under phase two, we’ll acquire companies involved in the property sectors to add synergy to our operations,” he told StarBiz after the company AGM and EGM yesterday.

The “clean up” phase, Kamaruzzaman said, involved reorganising its shares via capital reduction, repaying its long outstanding borrowings, creditors and disposing of its non-performing assets.

At the EGM, shareholders approved the company’s proposal to acquire parking operator Metro Parking Sdn Bhd, facilities management solution provider TMR Urusharta Sdn Bhd and professional care and cleaning company HC Duraclean Sdn Bhd.

Kamaruzzaman said the company’s experience and expertise in the property sector and services sector started in 2007 when it acquired Healthcare Technical Services Sdn Bhd (HTS).

HTS provides comprehensive end-to-end technical services in the healthcare sector from technical design and technical consultancy on hospital development. Its other services include project and construction management for hospital development, biomedical engineering maintenance as well as facilities engineering maintenance for operations hospitals.

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