Harvest Court To Diversify Into Property Sector

• Harvest Court Industries, which manufactures timber-related products, plans to diversify into property development while focusing more on timber services.

• The group has identified two prime areas in Selayang, Selangor, and Malacca for development and is negotiating with business associates that own the land parcels in the two areas for possible joint ventures.

• According to the firm, it would continue with its timber services amid the restructuring scheme that will see the company cease its business in the manufacturing of timber doors and emphasise more on timber services that have higher margins.

Significance: Through diversification and restructuring, Harvest Court aims to return to profitability by end FY17 and expects that the construction and property segment would provide more revenue once the activities kicked off in the first quarter of FY17.

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