TERENGGANU'S PMINT TARGETS RM100 MLN ACQUISITIONS IN 2023
KUALA TERENGGANU, Feb 1 (Bernama) -- State agency Kumpulan Perbadanan Memajukan Iktisad Negeri Terengganu (PMINT), which owns nine subsidiaries, has targeted acquisitions of about RM100 million this year.
Chief executive officer Wan Adnan Wan Derahman said this year’s targeted value of acquisitions is higher than last year’s RM60 million, which was mainly from subsidiary PB Hotel Management Sdn Bhd.
To achieve the target, the state investment agency has implemented a reorganisation exercise in terms of operations and strategies to enhance the profitability of its subsidiaries, such as P-Excell Management Sdn Bhd, Pertima Terengganu Sdn Bhd, and TTI Management Sdn Bhd.
“With the reorganisation of strategies and operations, already profitable companies will be even more profitable this year. For example, the selection of TTI Management Sdn Bhd to be the tourist hub for Pulau Redang will have a major impact in terms of income where previously the company had struggled with high costs,” he said at the state agency’s dinner here last night.
Wan Adnan said this year, Kumpulan PMINT through P-Excell Management Sdn Bhd, plans to develop more commercial properties to maintain its position as the market leader in the Terengganu real estate sector.
A major potential project will be in Bandar Baharu Kertih involving 500 homes.
He said the real estate sector is expected to give a return of 40 per cent to the group this year.
-- BERNAMA
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