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JOHOR BARU: Daiman Development Bhd is planning to turn a freehold 128.78ha agriculture land near Kulaijaya into a gated and guarded industrial park cum commercial outlets in its latest development.

Its property management general manager Heng Song Teck said the land was acquired after the group financed the project via a sale of shares agreement with Sin Yue Holdings Sdn Bhd.

He said the acquisition was completed on June 20 and plans were ongoing to develop the land, located about 10km from the Sedenak Industrial Area, to meet with growing demand for such facilities and to cater to the light- and medium-industries.

“Furthermore, if the speculation about US-based Microsoft Corp setting up a data centre in Sedenak, Kulaijaya is true, it will definitely have positive impact for our development as well,” he said after the group’s annual general meeting here yesterday.

Besides that, he said group revenue was RM166.2mil while net profit stood at RM62.9mil for the financial year ended June 2014.

The company also announced a dividend of 8 sen for each share.

Heng said since taking over Menara Landmark here and giving it a facelift two years ago, the group had increased the building’s occupancy rate from 60% to the current 81%.

“This has made us among the top three most occupied commercial buildings in Johor Baru,” he added.

Separately, he said the group was now developing a township in Kota Tinggi under Taman Daiman Jaya where it spent RM4mil to relocate and build SJKC Mawai to add to the facilities in the area.

“We expect to launch at least 230 units of affordable homes priced below RM350,000 in Kota Tinggi in the second half of next year,” he said.

He said that the project would be part of its township development plan on a some 917.24 ha.

Source: The Star Online

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