Property development spurs SHL

SHL affordable homes project - Artist's impression

PETALING JAYA: SHL Consolidated Bhd’s net profit for its first quarter ended June 30, 2021, rose to RM9.74mil from RM1.53mil in the previous corresponding period, mainly due to higher revenue generated by its property development segment.

In a filing with Bursa Malaysia yesterday, the company said revenue in the first quarter grew to RM33.61mil from RM7.13mil a year earlier.

“The property development segment continues to be the key contributor registering a revenue of RM23.51mil for the three months period ended June 30, 2021, representing about 69.9% of the consolidated revenue."

“The property development segment will remain focused on building landed properties and affordable value homes with readily available mortgage financing facilities from banks.”

Commenting on its prospects, SHL said it will focus on projects in Bandar Sungai Long, Goodview Heights in Sungai Long South, Alam Budiman in Shah Alam and Rasa in Batang Kali, as well as developments in Selangor.

“Barring any unforeseen circumstances, the board of directors are cautiously optimistic that the group’s performance for the current financial year will be satisfactory,” it said.

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