FIRST THEMED DEVELOPMENT: Saujana Rawang, featuring residential sanctuaries amidst an exotic tropical setting, is registering stronger contributions to Glomac’s revenue.

KUCHING: Glomac Bhd’s (Glomac) new property sales spiked up in the first half of the financial year 2012 due to maiden recognition of sales from Glomac Damansara as well as strong take up rates in exciting township projects.

ECM Libra Capital Sdn Bhd (ECM Libra Capital) expected the sales momentum to remain strong in the second half of the financial year 2012 given strong key launches of Glomac Cyberjaya 2, BU Centro at Bandar Utama and also strong interest in its serviced apartments.

Glomac’s second quarter of the financial year 2012 reported revenue of RM134.8 million decreased year-on-year by four per cent foremost due to completion of two projects namely Glomac Tower and Glomac Galleria.

However, Glomac Damansara, Glomac Cyberjaya, Saujana Rawang and Bandar Saujana Utama contributed stronger revenue as compared with the preceding year. The research firm pegged Glomac’s revised net asset value at RM1.55 per share.