NAIM’s New Businesses to Generate Revenue Streams

KUCHING: Property developer Naim Holdings Bhd’s venture into the hotel business and specialist healthcare services will soon generate new revenue streams for the group.

Managing director Datuk Hasmi Hasnan said Naim-owned Fairfield by Marriott Hotel project in Bintulu would be completed in July. It is scheduled to commence operation in early 2020.

“This 230-room hotel is the first international standard hotel in Bintulu,” he told StarBiz after the company’s AGM held last Friday.

The three-star hotel is located within Naim’s flagship integrated development Bintulu Paragon on 14.5ha in the heart of the industrial town. Naim is building Sarawak’s tallest condominium, a 34-storey tower called The Peak there. The condominium project is scheduled for completion within the current quarter.

Other completed components in Bintulu Paragon include a street mall and small offices, home offices units.

He said construction work for the 96-bed Miri KPJ Specialist Hospital project is completed. Wholly-owned unit Naim Land Sdn Bhd and Kumpulan Perubtan (Johore ) Sdn Bhd, which is 100% owned by KPJ HealthCare have a 30% and 70% equity interest, respectively, in the joint venture hospital.

Naim Land Sdn Bhd is a wholly-owned unit of Naim Holdings Bhd, while Kumpulan Perubatan (Johore) is 100% owned by KPJ HealthCare.

KPJ will announce when the hospital is operational. The first KPJ Specialist Centre in Sarawak is located in Kuching.

On the property development front, Hasmi said Naim would launch another 100 units of affordable residential units in its flagship development Bandar Baru Permyjaya in Miri later.

“The demand for these affordable homes is very strong,” he added. The units of affordable homes launched earlier are priced around RM300,000 each.

Source: The Star, May 27, 2019