KUALA LUMPUR: Land and General Bhd (L&G), with current cash in hand of RM300mil and gearing ratio of 0.17, is exploring opportunities to acquire new pieces of land.
Managing director, Low Gay Teck, said the group was eyeing land in the Klang Valley, Johor Baharu and Penang for the development of residential areas.
On the total value of its land, Low said the group has not conduct any re-evaluation.
"The land held for development in Sungai Buloh, Tebrau and Sungai Petani has a net book value of RM38.0mil," he told reporters after the company's annual general meeting on Monday.
Low said the company was in the midst of reviewing a few proposals for the industrial land in Johor. "For the land in Sungai Petani, we are waiting for an appropriate time to develop it," he said.
On overseas project, Low said, the group was keen to explore Vietnam in the future as part of its expansion plan, following its overseas joint venture project, Hidden Valley, in Melbourne, Australia.
On the education division, Low said the shareholders had suggested the management establish a private school with international curricular.
L&G, through its wholly-owned unit, Lang Education Sdn Bhd, planned to set up a Malaysian-based curricular school, Sekolah Sri Bestari, which included a kindergarten, primary and secondary school, he said.
"However, it is still at the planning stage, and we are considering a few options when it comes to the stages of education," Low said.
L&G's pre-tax profit for the first quarter ended June 30, 2014 increased to RM59.46mil from RM29.720mil a year ago.
Its revenue improved to RM153.184mil from RM89.914mil previously. - Bernama
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