THE Naza group of companies is confident it has the right products for the market to achieve 15% growth in profit this year despite the slowing domestic economy.

The automobile and development divisions would be the main growth contributors.

Group executive chairman and chief executive officer SM Nasarudin SM Nasimuddin aims to double the group’s motor vehicle market share to 6% this year from 3% last year.

“We plan to increase sales to 28,000 units this year by introducing competitive, affordable and quality models. Ninety per cent of the sales will come from completely-knocked-down (CKD) vehicles,” he told reporters during the company briefing yesterday.

SM Nasarudin SM Nasimuddin (left) and SM Faliq SM Nasimuddin.

Naza group has a plant in Gurun, Kedah with a production capacity of 55,000 units a year. The plant produces 14 models under the Kia, Peugeot and Naza brands.

Nasarudin says more new models will be launched this year, including Kia Forte in the second quarter; Kia Soul, Kia Suria, Kia XM and Peugeot 207 in the third quarter; and Peugeot Prologue in the fourth quarter. So far this year, it has launched the facelifted Peugeot 407 and Peugeot 308.

Nasarudin is also studying the possibility of bringing electric cars into the domestic market.

Meanwhile, Naza TTDI deputy group managing director SM Faliq SM Nasimuddin says new development launches will continue during these challenging times.

“There is still a market out there. We will continue with branding, ongoing projects and launches to protect TTDI’s 35-year history,” he says.

The group’s property development arm, Naza TTDI is launching Bukit Indah’s 136 high-end villas in Ampang, Kuala Lumpur next month.

Faliq targets 60% sales this year from the RM360mil development as he has received good feedback from potential buyers from the Middle East and Singapore. The selling price starts from RM2.5mil.

Naza TTDI is also finalising en bloc sale for one of the Platinum Park Grade A office towers to a government-linked company. The RM4bil Platinum Park comprises seven towers of offices, service apartments, retail units and condominiums in the Kuala Lumpur City Centre. The first tower, a 50-storey office, was sold to FELDA for RM640.7mil or RM900 per sq ft last year.

Naza TTDI is also scouting for attractive and mature land bank especially in the Klang Valley. It has 447 acres now that would last for another four years, says Faliq, who prefers land with sizes ranging from 50 to 100 acres.

Nasarudin says he aims to grow Naza TTDI to be among the top three developers in five years.

Currently, Naza TTDI has unbilled sales of RM1.5bil that would be realised over the next four years and book order of RM1.8bil. Last year, it posted revenue and net profit of RM239mil and RM86mil respectively.