SERI KEMBANGAN: Country Heights Holdings Bhd
(CHHB) has lined up property projects with a combined gross development value (GDV) of RM920 million to drive its business in 2023.
Newly appointed managing director Datuk Mircle Yap said CHHB is building Mines Beach Suite which has a GDV of RM600 million, a RM200 million Jitra housing project in Kedah, housing development Cyberlake Heights and Pajam industrial hub in Negeri Sembilan, each having a GDV of RM60 million. All of them will be launched this year.
"We want to monetise all the assets we have. The CHHB brand has been in the market for over 39 years and we hope the new management can take the brand further. We have a lot of plans for the company," Yap told reporters after the company's annual general meeting today.
The company plans to build 387 double-storey and 64 semi-detached units on the 16.19-hectare (40-acre) Jitra land while 60 freehold industrial lots are being planned for the Pajam industrial hub.
The group will also expedite its international medical and wellness hub development and reposition the Mines Beach Resort into a premier retreat destination dedicated to promoting health.
GHHS Healthcare’s resort, hospitality and wellness divisions will be restructured to support the 80.94-hectare (200-acre) international medical and wellness hub development.
In addition to the Palace of the Golden Horses and Mines Waterfront Business Park Tower 4 and 5, an adjacent 4.9 hectares (12.10 acres) of recreational land will be set aside for the international medical and wellness hub.
For its financial year ended Dec 31, 2022, CHHB reported a net loss of RM81.63 million compared to a net profit of RM2.64 million in the previous corresponding period.
Revenue dropped to RM45.84 million versus RM104.91 million previously, owing primarily to the completion of a significant RM54 million land sale in the previous year. - Bernama
