Selangor Dredging cautious on property outlook despite 95% inventory sold

KUALA LUMPUR: Selangor Dredging Bhd (SDB) is cautious on the property sector, despite having achieved 95% inventory sold for some of its development projects.

“Malaysia’s property sector is picking up at a slow rate due to challenging market conditions coupled with consumers’ cautious spending habits from the increased cost of living, as well as firmer bank policies,” the group’s chairman Eddy Chieng Ing Huoung (pix) told the media after its AGM today.

Although SDB did not disclose the total inventory value, its current unsold properties are valued at RM111 million.

On the other hand, its unbilled sales for ongoing projects in Malaysia and Singapore stand at RM241.90 million.

source https://www.thesundaily.my/business/selangor-dredging-cautious-on-property-outlook-despite-95-inventory-sold-DF1304104