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Article: Firm feels impact of weak mart, project financing woes
- Article from:
- New Straits Times
- Article date:
- September 17, 2009
- Author:
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Presenna Nambiar
New Straits Times
09-17-2009
Firm feels impact of weak mart, project financing woes
Byline: Presenna Nambiar
Edition: Main/Lifestyle
Section: Business Times
Type: Company
PROPERTY developer Asian Pac Holdings Bhd, could run into losses this year, as it fights to cope with a weak commercial property market and project financing difficulties.
The company made a net profit of RM1.1 million for the financial year ended March 31 2009, mainly due to the downturn.
"This year we are going to bite the bullet, we have one or two small projects that should tide us over but it will be very tough," Asian Pac chairman Tan Sri Megat Najmudin Megat Khas said after its annual general meeting ...