Teladan to launch RM1.2bil GDV projects

PETALING JAYA: Teladan Group Bhd plans to launch properties with an accumulated gross development value (GDV) of RM1.2bil in the current financial year ending Dec 31, 2024 (FY24), including a maiden development in the Klang Valley.

The remaining projects are located in Melaka, Teladan said in a filing with Bursa Malaysia.

In the first quarter ended March 31 (1Q24), Teladan reported a total property sale of RM75.7mil, mainly contributed by sales from completed, ongoing as well newly launched projects.

During the quarter, it launched properties with a total GDV of RM47.6mil, including Taman Bertam Putra Phases 2 and 3, and Taman Impiana Kesang Phase 3 shoplots.

Teladan’s net profit tumbled 32.9% to RM5.6mil in 1Q24 compared with RM8.3mil in the same quarter last year.