KPMNPS To Gain RM3.5 Million Profit From Collaboration With Econmas
KANGAR, April 1 (Bernama) — Koperasi Guru-Guru Melayu Perlis Bhd (KPMPs) expects to generate a profit of RM3.5 million from the development of its 3.32 hectares in collaboration with a developer, Encomas Sdn Bhd.
The agreement for the cooperation was signed by the cooperative’s chairman, Kamarudin Che Kassim and its treasurer and secretary, Ashikin Talib and Dahlan Ismail, while Encomas was represented by Managing Director Datuk Rick Cheng Wooi Seong.
Kamarudin said the land at Datuk Kayaman, Chuping, here was slated to be a mixed development with 94 housing units and 14 shop houses.
“This is the first big project by KPMPs after recovering from the failure of its housing project venture in the 90s,” he said after signing the agreement here today.
He said that KGMPs planned to buy the shop houses to expand its existing assets consisting of 16 shop houses worth RM16.5 million and two semi-detached houses worth about RM500,000.
KGMPs has 1,000 members and it allocates some RM1 million for loans, death benefits, scholarships, and medical benefits of its members.
Meanwhile, Cheng said, the project would be started by the end of next year and expected to be completed in two year’s time.
He said the housing units to be build would be single-storey terrace units priced between RM150,000 and RM200,000 and single-storey semi-detached (RM250,000 to RM300,000) while the shop houses would be priced at RM300,000 per unit.
— BERNAMA