KUALA LUMPUR: NCT Alliance Bhd recorded a two-fold increase in net profit for its first six months ended June 30 2022, clocking in at RM19.1 million compared with RM9.6 million last year. 

At pre-tax level, the profit rose to 

RM25.4 million while revenue grew to RM100.3 million for the first half of the financial year.

For the second quarter, NCT Alliance's net profit improved to RM11.1 million from RM9.5 million in the same quarter last year.

Its pte-tax profit grew to RM15.6 million while revenue stood at RM48.8 million.

Datuk Seri Yap Ngan Choy, executive chairman and group managing director of NCT Alliance, said the positive performance was primarily driven by the strong take-up rate of its flagship development, the Grand Ion Majestic (GIM) project.

"Despite challenging market conditions, GIM received an overwhelming response due to its strategic locations and attractive features. 

"Given the promising outlook, we are 

confident to achieve an 80 per cent take-up rate by year-end. In addition to GIM, the sales of completed stocks in our Mahkota Kampar project also contributed to the group's improved results," Yap said in a statement today.

He added that with the economy on the road to recovery from the impact of Covid-19 pandemic, it had become all the more important for the company to deliver high-quality products at an 

affordable price. 

"As we continue to catering to consumers' needs, the government's 

proactive initiative to offer 100 per cent stamp duty exemption for first-time property owners through the Keluarga Malaysia Home Ownership Initiative (i-MILIKI) initiative indeed bodes well for the property sector. 

"We are optimistic that this will encourage more buyers to own a home or purchase a property for investment, further contributing to the group's prospects moving forward," Yap said.

Source: https://www.nst.com.my/business/2022/08/826783/nct-alliance-doubles-half-year-net-profit-rm191mil