DNP Holdings Bhd expects its property division to gradually contribute to half the group’s yearly turnover over the next five years.

For the fiscal year ended Dec 31, 2002, earnings from the property division (RM21.9mil) made up about 30% of group turnover, general manager (treasury & accounts) Lee Kong Beng told reporters after the company AGM. In 2001, the division generated a turnover of RM14.4mil.

''Among the projects we plan to launch later this year is the Ukay Heights project in Kuala Lumpur, comprising 1,400 units of landed residential and high-rise condominiums,'' he said.

''The project, on a 125-acre site, will take five to six years to complete, and has a gross sales value of RM520mil.''

The group will launch this quarter some 122 terrace and semi-detached houses, and shophouses in Seberang Perai Tengah, under the third phase of the Bukit Minyak Indah project, which has a gross sales value of RM70mil.

''Last year, we completed and handed over the units sold in the first, second, and the low-cost phases,'' he added.

DNP also plans to launch, within three months, the second phase of the Taman Seri Impian project in Alma, Seberang Perai Tengah. It will comprise 194 double-storey link houses.

The on-going Taman Seri Impian project, with gross sales value of about RM100mil, comprises 727 detached, semi-detached, and terrace houses, as well as shophouses, and low-cost flats.

As for the garments division, Lee said, in the first quarter of 2002, DNP opened 12 franchised men and ladies apparel shops under the brand names of Miss Selfridge, Top-Man, Top-Shop, and Dorothy Perkins in the Klang Valley.

''For the 2002 fiscal year, these outlets generated a turnover of RM22mil.''

He added that the group planned to establish more franchised outlets in Penang and Johor.

For the financial year ended Dec 31, 2002, DNP recorded a turnover of RM303.4mil, 6% lower than the RM322.2mil achieved in the previous year, due to weaknesses in the US market.

Profit before tax and minority interests was RM16mil, compared with RM17.5mil before.

Source : The Star  8/5/2003