For a more in-depth review of the Group’s performance, please refer to the “Management Discussion and Analysis Report” in this Annual Report. Malaysia’s gross domestic product (“GDP”) is expected to grow by 4% to 5% in 2024 after registering a 3.3% growth in the third quarter of 2023, to be driven by favourable labour market conditions, investment projects, improvement in global technology cycle and tourism. The Group continue to focus on the strong demand for affordable housing, with emphasis on delivering affordability in prime locations with appropriate product mix. For FY2023, the Property Development and Construction Division achieved notable results, with revenue of RM587.6 million and PBT of RM56.6 million. In today’s ever-evolving real estate landscape, the key to success lies not only in adapting to market challenges but also in envisioning innovative strategies that can transform those challenges into opportunities. One such strategy is Transit-Oriented Development (“TOD”). CHAIRMAN’S STATEMENT In response to the strong interest in TOD, MKH has been actively engaged in the development of TOD projects strategically situated along the Klang Valley transit system. Some of our noteworthy service apartment projects in this category include Nexus @ Taman Pertama in Cheras, MKH Boulevard II in Kajang, Nexus @ Kajang Station, MIRAI Residences @ Kajang 2 Precinct 1 and TR2 Residence @ Jalan Tun Razak in Kuala Lumpur. The Property Development and Construction Division achieved notable results, with revenue of RM587.6 million and PBT of RM56.6 million. Artist’s impression of NEXUS @ Taman Pertama with a stunning view of Kuala Lumpur city centre MKH BERHAD | ANNUAL REPORT 2023 13
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