KUALA LUMPUR (Aug 24): Hua Yang Bhd rose 9.44% this morning after the company said it is confident of meeting its RM400 million new property sales target for the financial year ending March 31, 2018 (FY18) as the real estate developer prepares to launch an estimated RM2 billion project in Puchong, Selangor, during 2HFY18.

At 9.30am, Hua Yang rose 2 sen to 84 sen with 57,400 shares traded.

Yesterday, Hua Yang chief executive officer Ho Wen Yan said the group expected to meet the sales target despite a slower market in 1HFY18.

"Our FY18 sales target is RM400 million. We are still confident that we can achieve that but the first half has been quite challenging, so hopefully in the second half with the new launches we will be able to recover quite a bit of sales from that," he said after Hua Yang's annual general meeting (AGM). — theedgemarkets.com

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