The financial year ended 31 March 2014 for Amcorp Properties Berhad (“AMPROP” or “Company”) marks the end of Company’s transformation programme since 2008 with the disposal of its associate company, Kesas Holdings Berhad for RM280.0 million. I am pleased to report that on the back of this disposal, AMPROP achieved a group profit before tax of RM153.7 million for the financial year, a multi-year high and a notable increase of 60% as compared to the previous financial year. Our net asset per share has also risen significantly by 27%, from RM1.27 to RM1.62 per share and our shareholders’funds now fall just short of the billion Ringgit mark at RM937.9 million. This positive result contributed to the increase in AMPROP’s share price by 31% from 1 April 2013 to 31 March 2014.
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We remain focused on our strategy of properties in London and Malaysia, and will consider expanding to other established countries with economic conditions that favour the property cycle in the short to medium term. This will be in the form of joint ventures with established and reputable developers who have the required familiarity and knowledge in the selected countries.
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