KUALA LUMPUR (March 13): Country View Bhd has appointed former Dewan Rakyat Speaker Tan Sri Azhar Azizan @ Harun as its independent and non-executive director.

The property developer announced the appointment in its bourse filing on Monday (March 13).

Azhar Harun was the Dewan Rakyat Speaker from 2020 to 2022, and retired after Datuk Johari Abdul was appointed as the new Dewan Rakyat Speaker for the current parliamentary term.

He was admitted as an advocate and solicitor of the High Court of Malaya on February 27, 1987 and has extensive experience as an advocate & solicitor and currently concentrates his practice in litigation matters involving shareholders right and remedies, corporate liquidation and receivership; corporate debts restructuring and building and construction claims.

He is now practising law in Messrs Azhar & Goh.

Meanwhile, Country View’s net profit increased 37.55% to RM1 million or four sen per share in the fourth quarter ended Nov 30, 2022 (4QFY2022) from RM727,000 or three sen per share in the same quarter a year earlier (4QFY2021), against higher revenue by 178.76% of RM24.67 million in 4QFY2022 from RM8.85 million.

The improved revenue and profit were from its property development division.

Its second interim dividend of four sen per ordinary share was paid on Feb 17.

For its full year 2022, its net profit decreased 54% to RM3.04 million in 2022 (FY2022) from RM6.61 million a year earlier (FY2021), against increased revenue by 19.36% to RM81.32 million from RM68.13 million.

“Our group will continue to monitor both global and local developments closely to remain proactive and vigilant in mitigating any potential impact to the businesses of the group,” said Country View on its prospects.

“The group expects its revenue and performance for the financial year ending Nov 30, 2023 to be derived from the properties sold in Taman Nusa Sentral, Iskandar Puteri, Johor as well as the new development of Aurora Resort Villas (ARVs) in Aurora Sentral, Iskandar Puteri, Johor.”

Country View also plans to launch a further phase of the ARVs in Aurora Sentral and affordable homes under the Rumah Mampu Milik Johor scheme in Taman Nusa Sentral in FY2023.

Its share price closed unchanged at 96 sen, giving it a market capitalisation of RM96 million.