Managing Director Datuk Gary Gan - Radium
Radium Development Berhad reveals strong Q3 FYE2023 results, achieving RM46.78 million in revenue and RM3.05 million in Profit After Tax.
The Group’s strategic moves include acquiring land at Old Klang Road with an estimated GDV of RM500 million and forming a Strategic Partnership Agreement with MyCharge EV Sdn. Bhd. for EV Chargers integration.
Despite a marginal dip in revenue due to ongoing projects, the Group maintains a commendable gross gearing ratio of 0.08 times, demonstrating financial stability.
Managing Director Datuk Gary Gan expresses confidence in the Group’s momentum, emphasizing the launch of new projects and leveraging Malaysia My Second Home (MM2H) applications to attract foreign tourists and investors.
Detailing Radium’s strategic trajectory post-listing on the Main Market of Bursa on May 31, 2023, Gan highlighted the allocation of RM109.3 million from the initial public offering (“IPO”) proceeds. This capital infusion is earmarked for the development of a 145-room boutique hotel seamlessly integrated into a mixed development project in Ampang, aligning harmoniously with R Suites Chancery Residences.
Cover Photo: Edge
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