GEORGE TOWN: Hunza Properties Bhd expects decent results for FY ending June 30, 2013, underpinned by Gurney Paragon, Bandar Putra Bertam in Kepala Batas and Infinity, a high-end residential project.

Executive chairman Datuk Khor Teng Tong said on Thursday Hunza was focusing on Gurney Paragon, the major contributor for the property segment for the 2012 financial year.

"Rental income from tenants at Gurney Paragon's retail podium and St Jo's heritage building are the new stream of recurring income which just started for Hunza.

"The revenue contribution will increase significantly to the group upon completion and operations of the Gurney Paragon phase two retail mall and office tower soon," he said after Hunza's AGM.

Khor said Gurney Paragon Mall is slated to open in July next year and he expected more tenants.

Among them are Debenhams, Lunarich Pizza and Pasta, Angus House Japanese Charcoal Steak and leading retail group Valiram have confirmed to take up the main mall with over 10 retail stores.

On Bandar Putra Bertam in Kepala Batas, Khor said the new phase of 128 double-storey semi-detached houses has been launched and has started to contribute to attributable sales in the financial year ended June 2012.

"In addition, the 173 units double-storey terrace houses will be launched soon and together with the double-storey semi-detached houses, will contribute significantly to Hunza's property development segment revenue and profit in FY13," he said.

On Hunza's Bayan Baru land, Khor said some 700 low-cost units would be built for the affected squatters in the next two to three months before development begins by end-2014 or early 2015.

He said the land in Bayan Baru was more than four times the size of Gurney Paragon land and Hunza was planning to develop the area into a multi-billion ringgit integrated development which would transform Penang into an international city.

"We expect the Gurney Paragon project will firmly put Hunza in Penang's development spotlight while the Bayan Baru project will thrust the group on the national level," Khor added. - Bernama

• 
• 
• 

More News Business Headlines      Ivory Group to start phases 3 to 5 of Penang Times Square by year-end      Japanese corporates might be eyeing Malaysia as operational hub      MHTC eyes RM630mil revenue for medical tourism      Lazada secures RM320mil fund      MBM Resources targets RM4b revenue by 2015      MRCB shareholders vote for RM729m merger with Nusa Gapurna (Update)      Asian markets in the red, KLCI down 10 points at midday (Update)      Malaysia PC sales hit 898,000 in Q1, 2013, Lenovo top vendor      RHB Research maintains "Neutral" on auto sector      Kulim Malaysia offers RM812.3m for another 20% stake in NBPOL (Update)      RHB Research maintains "Neutral" on IHH Healthcare      Sumatec up ahead of meeting on O&G asset buy plan      Ringgit falls to 1-yr low at 3.2010 versus US dollar      Malaysia's KLCI falls nearly 10 points in early trade      Malaysian equities to face selling pressure on Thursday      Public Invest Research: TSH Resources becoming big cap plantation company      US stocks down after Bernanke hints at slowing stimulus      Assore - Assmang approves ferromanganese joint venture in Malaysia      CIMB Research ups MY EG target price to RM1.74      Malaysia-Market factors to watch on June 20(Thursday)      Kulim to take another 20% stake in New Britain Palm Oil Ltd (Update)      Nusa Gapurna rejects PKNS offer to up stake in PJ Sentral      AirAsia wants no further delays in opening of new low-cost terminal KLIA2      AirAsia signs RM27.5bil engine deal      AirAsia X shares worth up to RM1.66 each      Use of psychometrics assessment for employees can be controversial      Low bids for Hwang-DBS due to the banking group’s poor Q3 results      Reality check on Asean Economic Community, is it rather ambitious?      Sumatec shareholders to vote on Kazakhstan oil and gas asset buy      Genting’s Aussie move a surprise      3 parties said to be in talks to take over Luster      MISC to consolidate ops, re-balance portfolio and income mix      Malaysian market closes lower      Pos Malaysia proposes 9.5 sen final dividend      Stability boost for UEM Sunrise project in Iskandar      IGB buys into Johor-based property developer      Tambun Indah plans RM200mil capex to expand landbank      MAS to beef up ties with six code share partners      Consumer Price Index up 1.6% in May      CEO: MBSB not in hurry to get banking licence      Banks urged to implement Basel III within proper context      Tune Ins sees healthy growth in earnings      Etiqa sees good family takaful growth      Integrax may gain if TNB wins      Petronas Dagangan eyes airports      MARC assigns AA+IS rating to Kapar Energy      Eversendai tendering for RM8bil projects      Asian businesses optimistic, sentiment index highest in five quarters      GM revs up plans for Cadillac in China luxury market      Robinsons plans up to US$924mil Philippine IPO      Send reckless bankers to jail, say UK lawmakers      Finnish economy set to shrink on weaker exports      Asia Business Sentiment Survey - by economy      New book-keeping rule to priprizese open insurers' 'black box' accounts      Microsoft reverses position on Xbox One Internet, game sharing      Bernanke says Fed likely to reduce bond buying this year      Microsoft talked with Nokia about buying devices unit      Bernanke says Fed likely to reduce bond buying this year      Japan's conservative values collide with plan to mobilise women for economy      Britain to start sale of Lloyds soon, review RBS split      Bernanke says Fed likely to reduce bond buying this year      Britain, France face EU action over high Eurostar charges  Go

• Parliament dep speakers: One each from Pakatan and BN, suggests Anwar
• Haze: All Batu Pahat schools to close for two days
• Selangor to set up commission to investigate allegations of electoral fraud in GE13
• Court rules William Yau’s death as misadventure
• Six men with parang cart away RM400,000 worth of jewellery
• Tee’s MCA membership suspended for three years
• Toddler suffocated after being pinned down, doctor tells court
• Haze: Schools have discretion to close when air quality turns hazardous, says Education DG
• NS to trainees: “If you are pregnant, tell us”
• Haze: Flights not affected
• Probe on trainee who gave birth at PLKN camp
• American pastor’s murder: Two more Pakistan nationals charged
• William Yau inquest: Verdict later today
• Haze: Muar’s 200 schools to close temporarily from today’s afternoon session
• MCMC offers free money to small businesses, few takers

• Assange says WikiLeaks assisting Snowden asylum bid
• Kim Dotcom slams Megaupload 'data massacre'
• Study: Jordan teens still 'honour killings' justified

• Murray poised to end Britain's 77 years of pain
• Steady as Jie goes
• Ferrer loses title after opening round loss
• Park preps for third major title bid at LPGA event
• Gavin Green confident he can take on title-holders this weekend
• Zhang switches focus on developing golf in China
• Thaworn hopes to find his ‘A’ game in Selangor Masters
• Paul Revington is glad to be back to train the Malaysian team
• Heavy task on Faizal’s shoulders
• Singapore Open: Chong Wei Feng fights to survive
• Rachel owes her rich vein of form to change in technique
• Future looks gloomy for men’s squash when Beng Hee calls it a day
• Khairy: RM8mil to be forked out for Sukma due to lack of sponsorship
• A chance for local cyclists to shine
• Rahul survives weekend of harsh hurdles in Norfolk

• Please wait.

• Use of psychometrics assessment for employees can be controversial
• Sumatec shareholders to vote on Kazakhstan oil and gas asset buy
• Sumatec up ahead of meeting on O&G asset buy plan
• AirAsia X shares worth up to RM1.66 each
• 3 parties said to be in talks to take over Luster
• Japanese corporates might be eyeing Malaysia as operational hub
• MHTC eyes RM630mil revenue for medical tourism
• Malaysia PC sales hit 898,000 in Q1, 2013, Lenovo top vendor
• Ringgit falls to 1-yr low at 3.2010 versus US dollar
• Public Invest Research: TSH Resources becoming big cap plantation company

Copyright © 1995-2013 Star Publications (M) Bhd (Co No 10894-D) - Investor Relations