News

Country Heights confident of achieving FY22 financial targets

There are several ‘game-changers’ that will help the group to achieve its net profit target

by ANIS HAZIM / pic by TMR FILE

COUNTRY Heights Holdings Bhd is poised to achieve strong profitability for the financial year of 2022 (FY22) driven by its diversification and digitalisation plans, said founder and major shareholder Tan Sri Lee Kim Yew (picture).

He said there are several “game-changers” that will help the group to achieve its net profit target in 2022 such as the collaboration with China’s largest online retailer JD.com’s wholly owned subsidiary, Beijing Wodong Tianjun Information Technology Co Ltd.

The collaboration will result in the development of JD.com’s omnichannel business model for the Malaysian market, utilising its technologies and Country Heights’ resources.

“Besides the joint venture with JD.com, I think it will also be driven by our property business,” Lee told reporters after hosting the Tiong Hua Media Dialogue and Aidilfitri celebration yesterday.

He said Country Heights is planning to build about 10,000 units of double-storey houses over the next five years with a price range of RM500,000 to RM1 million which will be launched by end of this year.

“These homes will be unique and have a ‘Five S’ concept and the value of the home will continue to appreciate,” he said.

Country Heights’ Five S home concept remains confidential for now but Lee said the proposed projects would have a “sports friendly” and “smart living” home concept and have a gross development value of about RM250 million for 500 units of houses.

Country Heights plans to convert the Palace of the Golden Horses property in Seri Kembangan, Selangor, into a wellness hotel to attract domestic and international tourists.

“We’re considering several options, including establishing a confinement centre. Outsiders visiting Malaysia will not simply be staying in a hotel. Within the hotel complex, they can have their wellness and wellbeing rebuilt. Since the Covid-19 outbreak, we have seen increased interest in this area,” he said.

The company also intends to add a rehab centre with facilities to help people boost their immune systems and self-healing abilities by staying at the Palace of the Golden Horses.

Zukri

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