PETALING JAYA: Classita Holdings Bhd
has proposed a diversification of its business to include property investment and trading as a move to improve its financial performance in the long run.
In a Bursa Malaysia filing yesterday, the lingerie maker said the proposed diversification will provide the group with an additional stream of income and is expected to augur well in its overall structure moving forward.
The diversification involves acquiring 18 retail units in Kajang for RM17mil, which is expected to yield a 4% to 6% annual rental return.
These units are part of the “Louvre,” a premium commercial project slated for completion in the first quarter of 2025.
Classita executive director Datuk Kuan Poh Huat is said to spearhead the operation of the group’s property business.
