Property Development Division The Group’s on-going development project, namely 100 Trees Private Estate, which comprises 60 units of semi-detached houses in Bandar Seri Alam, Johor, and Phase 2 of the Bukit Bayu Project, which comprises of 16 units of bungalows, are expected to contribute positively to the Group’s revenue and profit, with further construction progress and further sales. The collective gross development value (“GDV”) of these 2 developments is approximately RM110 million. The Group expects to launch one service apartment development comprising 896 apartment units in Johor, with estimated GDV of approximately RM300 million, in the second half of year 2024. The Group expects to submit its development planning application in relation to few of its land bank for the relevant authorities’ approval this year. DIVIDEND POLICY While we do not adopt a formal dividend policy, our Company has been declaring dividends every year since its listing on the Main Market of Bursa Malaysia Securities Berhad in 2010. In respect of FY2023, the Board recommends a single tier final dividend of 1.0 sen per share. Our Company is always mindful to reward our loyal shareholders who have supported our growth over the years while trying to strike a balance with the funding needs at our different development phases. MANAGEMENT DISCUSSION AND ANALYSIS 025 Annual Report 2023
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