Scientex Incorporated Bhd expects its property development and industrial packaging divisions to continue to drive the company’s growth in the current financial year.

Managing director Lim Peng Jin said property development and industrial packaging were equally important, as they contributed 40% each to the group's bottom line.

He said it would launch 350 units of double-storey terrace houses – the Aman Puri – in the RM1.2 billion Taman Scientex, the group's flagship project in Pasir Gudang, Johor, on Jan 7.

He said some 200 units or 57% of the houses were taken up during the soft launch last month. Aman Puri has a total sales value of RM45 million.

"We see huge demand for this segment from the medium-income group. We expect by then (the official launch), to see an 80% take-up rate.

"To date, we have realised about RM300 million to RM400 million in revenue from Taman Scientex," he told reporters after the company’s AGM in Subang Jaya on Dec 28.

Lim said the company would also launch 100 units of cluster semi-detached houses, priced between RM200,000 and RM250,000 each, in April to tap the medium-high market segment.

He added that it had recently acquired a 40ha parcel of land, bringing the total landbank in Taman Scientex to 260ha, which would keep the company busy for five to six years.

On its industrial packaging business, Lim expects the division to perform better, following an expansion plan by its subsidiary Scientex Packaging Bhd to increase production capacity at its plants.

Announcing the company's latest financial results yesterday, Scientex said its net profit for the quarter ended Oct 31, 2006 rose 20% to RM8.2 million from RM6.84 million a year earlier, on the back of an 8% rise in revenue to RM156.46 million from RM145.22 million.

Earnings per share rose to 13.04 sen from 11.04 sen.

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