NCT Alliance Berhad (NCT Alliance) recorded a two-fold increase in profit after tax (PAT) for its first six months ended 30 June 2022, clocking in at RM19.1 million compared with RM9.6 million last year. PBT rose to RM25.4 million while revenue grew to RM100.3 million for the first half of the financial year.
For the Group’s second quarter ended 30 June 2022, PAT improved to RM11.1 million compared with RM9.5 million for the same quarter last year. PBT grew to RM15.6 million while revenue stood at RM48.8 million.
Dato’ Sri Yap Ngan Choy, Executive Chairman and Group Managing Director of NCT Alliance said “The Group’s positive performance was primarily driven by the strong take-up rate of our flagship development, the Grand Ion Majestic (GIM) project. Despite challenging market conditions, GIM received an overwhelming response due to its strategic locations and attractive features. Given the promising outlook, we are confident to achieve an 80% take-up rate by year end. In addition to GIM, the sales of completed stocks in our Mahkota Kampar project also contributed to the Group’s improved results.”
“With the economy on the road to recovery from the impact of COVID-19 pandemic, it has become all the more important for us to deliver high-quality products at an affordable price. As we continue to catering to consumers’ needs, the Government’s proactive initiative to offer 100% stamp duty exemption for first-time property owners through the Keluarga Malaysia Home Ownership Initiative (i-MILIKI) initiative indeed bodes well for the property sector. We are optimistic that this will encourage more buyers to own a home or purchase a property for investment, further contributing to the Group’s prospects moving forward.”