Tambun Indah Land Bhd plans to launch new projects worth RM570 million this year after generating strong property sales in its financial year ended Dec 31, 2011.

In a statement today, Tambun Indah said it sold 912 units valued at RM347.3 million in financal year 2011 compared with 396 units valued at RM137.1 million previously.

The group was looking to launch five projects by year-end, namely Straits Garden in Penang Island, and Pearl Residence, Pearl Indah, Carissa Villas and BM Residence in Mainland Penang, it said.

The strong property sales last year saw group revenue and pre-tax profit increase 49.8 per cent and 29.8 per cent to RM191.8 million and RM46.9 million respectively, from proforma revenue of RM128.1 million and pre-tax profit of RM36.2 million a year ago. — BERNAMA

SOURCE: Business Times