KUALA LUMPUR: Shares in GSB Group Bhd advanced 3.4% in early trade Tuesday as the company expects to turnaround in the current financial year ending March 31, 2020 (FY20).
The property developer, which has been loss-making for the last six consecutive years, rose 3.36%, or two sen to 61.5 sen. It is one of the most actively trade stocks with 3.45 million shares done.
GSB expects to turn profitable in the current financial year ending FY20, driven by sales contribution from its three ongoing property projects, Bloomsvale, Straits Residence and Kaleidoscope projects.
GSB executive chairman Datin Toh Siew Chuon said the group's strategy was to continue to focus on residential property development.
However, should there be any opportunity to go into other types of development, GSB will explore it.
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