Malaysia: Boustead Expands Petrol Station Network
|
|
|
|
Tuesday, 08 April 2008 |
|
Boustead Holdings Bhd will invest about RM30mil in 15 to 30 new
stations to expand its retail petroleum network, according to group
managing director Tan Sri Lodin Wok Kamaruddin.
“In a bid to
strengthen BHPetrol’s market position, the group targets to increase
its service stations by 5% to 10% this year, from the existing 300
service stations nationwide,” he said after the company AGM yesterday.
On
the property development division, Lodin said its existing townships in
Selangor and Johor as well as niche high-end properties in the Kuala
Lumpur City Centre were expected to contribute positively to current
year earnings.
Meanwhile, executive director Datuk Ghazalli
Mohamed Ali said the group had an undeveloped landbank of about 2,000
acres, which would last the company for the next seven to 10 years.
He
said the group expected to launch three blocks of condominiums in
Mutiara Damansara, which had a gross development value (GDV) of
RM200mil, this year. On the property division's joint venture
with Bakti Wira Development Sdn Bhd, Ghazalli said there were plans to
develop a mixed property development on its more than 700 acres in
Bukit Raja, which had an expected GDV of RM2bil. “We hope to launch land sales by this year.” he added.
PetrolWorld 050408
|
