KUALA LUMPUR: Nexgram
Holdings Bhd is steadfast in its decision to acquire a parcel of land in
the 1Malaysia Development Bhds Tun Razak Exchange (TRX) here, its chief
executive officer Datuk Larry Tey said.
However,
to date the company is still in a negotiation phase and remains
cautious in terms of costs and returns for the property.
“If the price tag matches our appetite, we will proceed," he told reporters after the company's EGM here, yesterday.
TRX,
an iconic 28.32ha development in the heart of the capital, is set to
become a leading centre for international finance and business.
Tey said TRX's strategic location made it attractive for any developer and the price was attractive.
As a property developer, he said Nexgram would ensure that the margin was good, otherwise it would discontinue the negotiation.
He said since venturing into property development three years ago, Nexgram had been very careful in selecting its projects.
Going forward, he said the company would be launching property projects in Cyberjaya and Putrajaya by year-end.
Nexgram
is undertaking a commercial development project worth RM1.1bil in
Cyberjaya and building affordable houses worth RM300mil in Putrajaya.
“These
will keep us busy for a couple of years," he said, adding that the
company expected a double-digit contribution from its property sector in
the 2016 financial year.
Besides
property development, Nexgram has diversified into telecommunication
media and technology, and project investments and incubation.
At noon, the investment holding company's share was traded at 9.5 sen, up by half a sen. — Bernama
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