Kumpulan Europlus "positive" on FY15

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KUALA LUMPUR (Aug 28): Kumpulan Europlus Bhd (KEuro) is positive on its profitability for the financial year ending March 31, 2015, said independent non-executive director Datuk Oh Chong Peng, after the group's annual general meeting today.

"I think it should be positive this year, because we have a number of revenue sources," he said, adding that KEuro would be recognising revenue from its Bandar Rimbayu township in Shah Alam, the construction of the West Coast Expressway, and from its trading and manufacturing subsidiaries.

For the financial year ended March 31, 2014 KEuro posted a consolidated net loss of RM33 million, on revenue of RM14 million. This is compared to a net loss of RM22 million and revenue of RM18 million for the previous year.

On the Bandar Rimbayu development, KEuro’s chief operating officer Shuy Eng Leong said the group aimed to launch two to three phases of the project every year, with sales value of between RM400-RM500 million.