Business

Friday July 10, 2009

Naim finalising JV details

By JACK WONG


jackwong@thestar.com.my

KUCHING: Naim Holdings Bhd expects to finalise details of a proposed joint-venture housing project with Sarawak Timber Industry Development Corp in Tanjung Manis in the Sarawak Corridor of Renewable Energy by the year-end.

Group managing direc tor Datuk Hasmi Hasnan said both parties were working on an agreement based on a recently signed memorandum of understanding.

Datuk Hasmi Hasnan (fourth from left) and Naim Holdings executives at the launch of the ‘Zero Defects My Priority’ campaign

“The proposed joint venture will involve the construction of atleast 1,000 affordable houses,’’ he said after the launch of Naim’s “Zero Defects My Priority” campaign at the group’s new Kuching branch premises yesterday.

Hasmi said the group targeted to build 700 houses this year, with an averaage price of RM150,000 a unit.

“Sales of our houses in Miri are still strong,” he said.

Naim has built about 15,000 homes at its flagship development in Bandar Baru Permyjaya in Miri, Desa Ilmu in Kota Samarahan and Riveria satellite township in Kuching’s southern corridor over the past 13 years.

Earlier, Hasmi said Naim would double the defects liability period for all the properties that it developed to 24 months with immediate effect.

Naim, Sarawak’s largest property developer, is believed to be the f irst company in east Malaysia to offer the two-year warranty period.

“Our objective is to deliver the best-quality houses at affordable prices to buyers.

“We will not compromis e on quality and are now aiming for zero-defects in all the properties we develop,” Ha smi said.

He added that Naim had suspended and blacklisted a few of its sub-contractors who failed to deliver quality works


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