Melati Ehsan to increase contribution from property business

KUALA LUMPUR: Melati Ehsan Holdings Bhd is looking to reduce reliance on the construction division by ramping up its property projects.
"Our revenue is mainly from construction. In the future we hope to move more towards property. When our Selayang project is approved, property will contribute more to revenue," managing director Tan Sri Yap Suan Chee told reporters at its AGM today.
Last year, the construction division contributed about 70-80% of its revenue. The group hopes to reduce this to about 50-60% by 2018.
Yap said Melati Ehsan will focus on affordable housing, especially PPR and PPA1M projects. For land acquisitions, it will focus on the Klang Valley.
The group's Selayang land, which is about 10 acres, will be launched in the third quarter this year subject to approvals.